ottawa june 9 reuters  canada unexpectedly shed jobs in may and the unemployment rate rose for the first time in nine months data showed on friday a first sign of jobmarket softness after the central bank hiked rates this week in part because of the tight labour market the economy shed a net 17300 jobs in may entirely in fulltime work while the jobless rate inched up to 52 statistics canada said analysts surveyed by reuters had forecast a net gain of 23200 jobs and for the unemployment rate to edge up to 51 in may after staying at 50 since december a series of surprisingly strong economic data and stubbornly high inflation led the bank of canada to raise its overnight rate to a 22year high of 475 on wednesday markets and analysts forecast another increase in july as the bank struggles to bring down inflation that remains far above its 2 target some cracks appeared within the canadian labour market in may but these may not yet be wide enough to convince the bank of canada that inflation is about to meaningfully cool off said andrew grantham senior economist cibc capital markets employment for youth aged 15 to 24 dropped by 77300 jobs in may more than offsetting the nearly 63000 gained in the core 25 to 54 age group the net job losses capped an eightmonth upward trend in employment gains the average hourly wage for permanent employees  a figure the bank of canada watches closely  rose 51 from may 2022 a notch lower than aprils 52 yearoveryear increase employment in the goods sector increased by a net 22800 jobs led by manufacturing while the services sector lost a net 40100 jobs largely in business building and other support services the canadian dollar was trading nearly unchanged at 13351 to the greenback or 7490 us cents after earlier touching a onemonth high at 13317