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- Canada adds 303,100 new jobs in March; unemployment rate decreases to 7.5 percent
Canada adds 303,100 new jobs in March; unemployment rate decreases to 7.5 percent
Statistics
Canada reported on Friday that the number of employed people increased by 303,100
m-o-m in March (or +1.6 percent m-o-m) after an unrevised gain of 259,200 m-o-m
in the previous month.
Economists
had forecast an advance of 100,000 m-o-m.
Meanwhile,
Canada's unemployment rate fell to 7.5 percent in March from 8.2 percent in February,
exceeding economists’ forecast for 8.0 percent. This was the lowest rate since February
2020.
According
to the report, full-time employment increased 175,400 (or +1.2 percent m-o-m)
in March, while part-time jobs rose by 127,800 (or +3.9 percent m-o-m).
In March,
the number of public sector employees grew by 45,500 (or +1.1 percent m-o-m), and
the number of private sector employees surged by 201,300 (or +1.7 percent
m-o-m). Meanwhile, the number of self-employed climbed 56,400 (or +2.1 percent
m-o-m) last month.
Sector-wise,
employment increased both in goods-producing (+1.1 percent m-o-m) and
service-producing (+1.8 percent m-o-m) businesses.
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