Home Business News Canada added 303,100 jobs in March, the unemployment rate dropped to 7.5%...

Canada added 303,100 jobs in March, the unemployment rate dropped to 7.5% According to Reuters


© Reuters. FILE PHOTO: A job poster is available at Clocktower Brew Pub hanging from a window in Ottawa

OTTAWA (Reuters) -Canada added more jobs than expected in March, while unemployment fell to its lowest level since the pre-pandemic, Statistics Canada data showed Friday .

Driven by a continued recovery in sectors impacted by the January shutdown, Canada added 303,100 jobs in March, triple analysts’ expectations of 100,000. The unemployment rate fell to 7.5%, beating the expected rate of 8.0%.

Manufacturing jobs increased 43,200 jobs, while service employment increased 260,000 jobs. Part-time jobs increased by 128,000, with 175,000 new full-time positions.

Doug Porter, chief economist at BMO Capital Markets, said: “Apparently the economy was much more open than many thought and I think very mild weather has contributed to a strong comeback. This strong ”.

Employment is still 1.5% below pre-pandemic levels, with 296,000 people employed in February 2020 who have yet to return to work.

The Canadian dollar traded almost unchanged at $ 1.2559, or 79.62 US cents, after having recovered its previous decline.

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