June 7, 2013 / 12:35 PM / in 5 years

UPDATE 1-Canada May job gains biggest in 11 years

* Economy adds 95,000 jobs in May

* Jobless rate drops to 7.1 pct from 7.2 pct

OTTAWA, June 7 (Reuters) - Canada’s economy created a whopping 95,000 new jobs in May, the biggest monthly gain in 11 years, and most were full-time positions and in the private sector, Statistics Canada said on Friday in a report showing the economy may be gaining momentum.

The stellar performance beat market expectations for a 15,000 gain and came after just 12,500 jobs were generated in April.

The May data bring the average monthly employment growth to 19,000 over the past six months, considered a more accurate reading because of the volatility of the labor force survey data and the large margin of error.

The unemployment rate ticked down to 7.1 percent in May from 7.2 percent.

Some 76,700 full-time positions were added in the month and 94,600 jobs were in the private sector, Statscan said.

The construction sector did the most hiring, adding 42,700 jobs in May, followed by trade, “other services” and business, building and other support services. Sectors showing losses included manufacturing and professional, scientific and technical services.

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