Canada employment grew 34.7k in March, well above expectation of 10.2k. Employment gains in March were concentrated among private sector employees (+35,000; +0.3%). There was little change in the number of public sector employees and self-employed workers.
Unemployment rate was unchanged at 5.0%, better than expectation of 5.1%. That’s just above the record low of 4.9% recorded in June and July of 2022. Total hours worked rose 0.4% mom, 1.6% yoy. Average hourly wages rose 4.% yoy.
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