Canada’s labour market posted a modest rebound in March, adding 14,000 jobs after a significant loss of 84,000 positions in February, according to new data from Statistics Canada.
Despite the job gains, the unemployment rate remained unchanged at 6.7 per cent, reflecting a largely stable labour market with little variation in full-time versus part-time employment.
Employment growth was led by gains in the natural resources sector and “other services,” which includes industries such as personal and repair services. However, job losses were recorded in finance, insurance, real estate, rental and leasing sectors.
The data also showed steady growth in public sector employment on a year-over-year basis, outpacing gains in the private sector.
Meanwhile, average hourly wages rose 4.7 per cent year-over-year, increasing by $1.68 to reach $37.73, indicating continued wage pressure despite mixed employment trends.
The March figures follow February’s unexpected downturn, which saw the economy shed 84,000 jobs, catching many economists off guard and raising concerns about labour market volatility.
