Employment increased in the private sector and remained stable in the public sector and among the self-employed. Bojan / stock.adobe.com
Canada’s economy added 35,000 jobs in March, while the unemployment rate held steady at 5% for the fourth consecutive month near an all-time low, Statistics Canada said on Thursday. Job creation increased in March after little change in February (+22,000) and increased significantly in December (+69,000) and January (+150,000). “This is a better-than-expected result as the analyst consensus was expecting only a modest increase in employment,” said Royce Mendes, an analyst at Desjardins.
Employment increased in the private sector and remained stable in the public sector and among the self-employed. Employment growth was particularly evident in the transport, finance and insurance sectors. Employment fell in construction and the raw materials sector. Average hourly wages for workers rose more than 5% year-on-year to reach CA$33.12 in March.
The unemployment rate has been flat since declining slightly in December and is nearing a record high of 4.9% recorded in June and July. According to Statistics Canada, most unemployed workers have been unemployed for 13 weeks or less. The proportion of long-term unemployed, i.e. those who were unemployed for 27 weeks or more, fell.
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