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Canada Adds 14,000 Jobs in March as Unemployment Holds at 6.7%

The reading gives the Bank of Canada little reason to move rates this month.

Overview

  • Statistics Canada, in Friday's release, reported a net gain of 14,100 jobs with the jobless rate unchanged at 6.7%.
  • All the increase came from part-time work, which rose by 15,200 positions, while full-time employment slipped by 1,100.
  • Average hourly wages grew 4.7% from a year earlier, and the agency said changes in the mix of jobs likely boosted that pace.
  • Hiring was uneven across sectors, with gains in other services, professional and technical roles, natural resources and some manufacturing, and losses in finance, insurance, real estate and leasing.
  • Regional results diverged, as British Columbia lost 19,000 jobs and reached a 6.7% unemployment rate, while Manitoba and Saskatchewan recorded job gains.