The unemployment rate in Canada recorded another historic decline and wages continued to rise, keeping pressure on the Bank of Canada to continue raising interest rates.

Statistics Canada said on Friday that the economy added 40,000 jobs in May, driven by gains in full-time jobs, while the unemployment rate fell to 5.1 percent, the lowest rate since at least 1976, which goes beyond comparable data.

The country's labor market added 135,000 full-time jobs, while losing 96 part-time jobs.

Employment last month rose mainly in the services sector, which added 81,000 jobs. However, these gains were offset by a loss of 41,000 jobs, mainly in the goods sector and especially in manufacturing.

The Canadian authority said, "The rise in employment is mainly attributed to increased full-time work among young women and women in the main working age group."

Employment gains were mainly focused in wholesale and retail trade. The province of Alberta particularly benefited from this job increase according to the statistics agency, which also indicated a decline in unemployment in the province of Newfoundland and Labrador, Prince Edward Island in the east of the country, and in the provinces of Saskatchewan, Manitoba, and British Columbia in the west.