Canada’s Economy Adds 82,300 Jobs In March

05 April 2012 10:30am - Florence Fullalove

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Canada’s Economy Adds 82,300 Jobs In March

Statistics Canada has said that Canada added a significant 82,300 jobs in March in the biggest jump since September 2008 and the unemployment rate fell to a 6 month low of 7.2% from 7.4% in February. Economists had predicted only 10,500 jobs to be added last month and the unemployment rate to remain the same. This surprising jump in employment was seen in many sectors but was mainly led by full time private sector hiring. Douglas Porter, deputy chief economist at BMO Capital Markets said, “The Canadian job market shook off its winter blues with authority in March, likely aided by the incredibly mild weather.” He added, “Hibernation is over for Canadian employment. After a lengthy lull it’s come roaring back with a rather incredible gain.”

There were 70,000 full-time jobs created and 12,400 part-time positions were added. Out of these new jobs, 42,600 were in the private sector and 29,000 positions were added to the public sector. Statistics Canada said that gains were spread across several industries including health care and social assistance; public administration; and information, culture and recreation. However, educational services saw a decline. Regionally speaking jobs were added in Quebec Manitoba and Ontario but Nova Scotia and New Brunswick shed jobs.

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Related Links:
• Statistics Canada
Labour Force Survey, March 2012
• BMO Capital Markets
Economic Research
• Latest News
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