Statistics Canada released the labour market data on Friday. Canada's unemployment rate remained unchanged at 7.1% in April. Analysts had expected the unemployment rate to rise to 7.2%.

The labour participation rate declined to 65.8% in April from 65.9% in March.

The Bank of Canada monitors closely the labour participation rate.

The number of employed people declined by 2,100 jobs in April, missing expectations for a rise of 1,000 jobs, after a 40,600 increase in March.

The decrease was mainly driven by a fall in full-time work. Full-time employment declined by 2,400 in April, while part-time employment increased by 400 jobs.

Employment declined in manufacturing, business, building, and other support services, 'other services' natural resources, and agriculture.