US Non-farm payroll employment rose 196k in March, above expectation of 175k. Prior month’s figure was revised slightly up from 20k to 33k. Unemployment rate was unchanged at 3.8%, matched expectations. Labor force participation rate, at 63.0%, was little change on net over the past 12 months. However, average hourly earnings growth slowed to 0.1% mom, below expectation of 0.2% mom.
Canadian employment contracted -7.2k, slightly better than expectation of -10k. Unemployment rate was unchanged at 5.8%.
USD/CAD jumps notably after the release.
