Statistics Canada reported Thursday that the Canadian economy added 35,000 jobs in March, while the unemployment rate stayed unchanged at 5%, close to a record low for the fourth consecutive month.
After little change in February (up 22,000), and big gains in December (up 69,000) and January, job creation surged in March. (up 150,000).
“That was a stronger outcome than expected, with the consensus of forecasters looking for only a modest increase in employment,” said Royce Mendes, analyst with the Desjardins Group.
Employment increased in the private sector while being unchanged in the public and self-employed sectors.
Employment increased most rapidly in transportation, banking, and insurance, but dropped in construction and natural resources.
Employee hourly wages increased by more than 5% year on year, reaching CAD$33.12 (US$24.56) in March.
The unemployment rate has been stable after dipping marginally in December, remaining close to the record low of 4.9 percent achieved in June and July.
According to Statistics Canada, the majority of the unemployed had been out of work for no more than 13 weeks.
The proportion of long-term unemployed, defined as those out of work for 27 weeks or more, was 16%, down from 20.3 percent a year earlier.
