Canada Jobless Rate Down to 7.1%

Canada's unemployment rate decreased to 7.1 percent in March of 2016 from 7.3 percent in the previous month, well below market expectations of 7.3 percent. Employment increased by 41,000 (+0.2 percent) while unemployment went down by 25,500 (-1.8 percent).
Statistics Canada | Yekaterina Guchshina | 4/8/2016 1:55:24 PM
Unemployment decreased by 25,500 to 1,384,900, while employment increased by 40,600 to 18,043,500. Full-time employment rose by 35,300 and part-time added 5,300 jobs. Meantime, labour force went up by 15,100 to 19,428,400.

On a year-over-year basis, employment grew by 0.7 percent (+129,600), with the gains coming from full-time work (+133,700 or +0.9 percent). The unemployment rate rose from 7.0 percent to 7.3 percent, as the labour force grew at a faster pace than employment. At the same time, the number of hours worked increased by 1.2 percent. 

There were more people employed in Alberta, Manitoba, Nova Scotia and Saskatchewan. At the same time, employment declined in Prince Edward Island and was little changed in the other provinces.

Employment rose in health care and social assistance (+25,000), accommodation and food services (+18,000), professional, scientific and technical services (+12,000) and 'other services' (+9,900). At the same time, there were less people working in manufacturing sector (-32,000).

The number of private sector employees increased in March, while there was little change in the number of public sector employees and self-employed workers.

The participation rate remained steady at 65.9 percent from the previous month.

Youth unemployment rate rose to 13.4 percent from 13.3 percent in February.

Canada Jobless Rate Down to 7.1%