The number of people collecting employment insurance in April fell to the lowest level in at least 21 years.

According to Statistics Canada, roughly 453-thousand people received the regular wage insurance payments in April, down more than 100-thousand.

That’s an 18 per cent drop over April of last year, and the lowest number since comparable data became available in 1997.

The reduction coincides with a drop in the national unemployment rate from 6.5 per cent to a record low of 5.8 per cent over the same 12-month period.

The TSX lost 85 points to 16,335.

Gold closed at $1270.50 U.S. per ounce, down four dollars.

Oil closed at $65.54 U.S. per barrel, down 17 cents.

The loonie closed at $75.13 cents U.S