Construction is killing it and Manufacturing is strong

Canada had an unexpectedly strong month of job creation in May adding 14,000 Jobs. Construction and Manufacturing were two of the bright spots with Ontario and Quebec leading the way, likely with Toronto’s strong housing market being the biggest driver.

19,000 more people working in construction in May 2016 than in April. Since 2015 construction employment rose by 42,000 (+3.1%), and this has really happened since November with strong residential construction happening in Vancouver, Victoria and Toronto. Industrial construction is also happening with BC Hydro, Newfoundland Hydro and Muskrat Falls all ramping up, alongside some big commercial and retail construction in BC.

Employment in manufacturing has also climbed by 12,000 (+0.7%) in May. Helped by a reasonable Canadian dollar manufactures continue to do well in Canada, but also exporting to the US. We have seen recent jobs food and beverage companies opening up especially on the maintenance side.

Hopefully, the US election will not upset employment numbers in Canada and the US. Analysts were disappointed with only 30,000 new jobs in the US last month. With their lower participation rate, they always look for 150,000 jobs to be created monthly. If only Canada could be so lucky!