Statistics Canada says employers were actively seeking to fill 997,000 vacant positions in the second quarter, the highest quarterly number on record.
It marks the capital’s lowest unemployment rate since at least March 2001 – the earliest date for which statistics are available.
The Canadian economy grew at an annual rate of 3.3 per cent in the second quarter, bringing the quarterly reading below estimates and an early look at July suggests a contraction.
The agency says employers were actively seeking to fill 1,037,900 positions compared with 1,005,700 in May.
The Canadian economy stayed flat in May, with real gross domestic product showing neither growth nor contraction after a 0.3 per cent expansion in April.
The Bank of Canada raised its key interest rate by half a percentage point on June 1, bringing it to 1.5 per cent. Since then, it has signalled a willingness to move in a more aggressive direction.
Central bank says businesses' expectations for near-term inflation have increased, and firms expect inflation to be high for longer than they did in the previous survey.
Bank of Montreal chief economist Doug Porter said it's highly unlikely Canadians are in for a double-digit, '80s-style interest rate shock any time soon.
Statistics Canada says a number of signs point to an increasingly tight labour market in recent months, including a drop in the number of part-time workers that would prefer full-time work.
Statistics Canada says core retail sales -- which exclude sales at gasoline stations and motor vehicle and parts dealers -- rose 1.4 per cent.