Canada’s jobless rate at record low

OTTAWA:

Canada’s unemployment rate fell to 5.3% in March, the lowest level on record, highlighting the tightening of the country’s labour market, Statistics Canada data showed on Friday, with the economy adding a net 72,500 jobs. The job gain was slightly below analyst predictions of 80,000, while the unemployment rate met expectations. The average hourly wage of permanent employees rose 3.7%, up from a 3.3% gain in February. “We are beyond full employment. We are seeing the market heating up, and that shows with the wage growth,” said Jimmy Jean, Chief Economist at Desjardins Group. Employment growth continues to outpace population growth, leading to tighter labour markets, Statscan said. 

Published in The Express Tribune, April 9^th, 2022.

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