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4/8/2016, 3:01 PM (Source: TeleTrader)
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Canada: Employment rises in March on full-time, private sector jobs

Employment in Canada increased at the rate of 0.2% in March, thus lowering unemployment rate by 0.2 percentage points to 7.1%, according to data provided by Statistics Canada on Friday.

With added 41,000 jobs in March, the overall change in the first quarter grew by 0.2%, being the fourth consecutive quarter with the same rate of growth of 0.2%. When observed for the last 12 months ending on March 31, number of employed increased by 130,000 or 0.7%, mostly on growth of full-time work; the number of hours worked added 1.2% in the same period.

Employment increased by 40,000 in the age group 25-54 years both for women (22,000) and men (18,000), while the annual rate changed little.

In the 15-24 years of age group, employment rate held steady in March, with unemployment rate high at 13.4%. On the year-over-year basis, youth employment actually fell by 2.4% (60,000), which is awkwardly offset by loss in their population by 1.0% (44,000).

Unemployment rate for those aged over 55 years remained the same, and stood at 6.0%; on annual level ending on March 31, employment rose by 4.2%, driven partly by growth of aging population.

"Adjusted to U.S. concepts, the unemployment rate in Canada was 6.1% in March versus 5.0% in the United States. Compared with March 2015, the unemployment rate increased by 0.2 percentage points in Canada, while it declined by 0.5 percentage points in the United States," said the report from Statistics Canada.

Breaking down by provinces, Alberta became a leader, as unemployment rate slid to national average of 7.1% in March, from 7.9% in February, while the rate rose in both Calgary and Edmonton.

The main Canadian stock market S&P/TSX index last closed down 0.61% at 13,266 points.

The Canadian dollar was 1.05% stronger against its main counterpart the U.S. dollar, and 1.21% versus the euro, and 1.50% against the Japanese yen at 3:00 p.m. CET (9:00 a.m. EDT).

Employment in Canada increased at the rate of 0.2% in March, thus lowering unemployment rate by 0.2 percentage points to 7.1%, according to data provided by Statistics Canada on Friday.

With added 41,000 jobs in March, the overall change in the first quarter grew by 0.2%, being the fourth consecutive quarter with the same rate of growth of 0.2%. When observed for the last 12 months ending on March 31, number of employed increased by 130,000 or 0.7%, mostly on growth of full-time work; the number of hours worked added 1.2% in the same period.

Employment increased by 40,000 in the age group 25-54 years both for women (22,000) and men (18,000), while the annual rate changed little.

In the 15-24 years of age group, employment rate held steady in March, with unemployment rate high at 13.4%. On the year-over-year basis, youth employment actually fell by 2.4% (60,000), which is awkwardly offset by loss in their population by 1.0% (44,000).

Unemployment rate for those aged over 55 years remained the same, and stood at 6.0%; on annual level ending on March 31, employment rose by 4.2%, driven partly by growth of aging population.

"Adjusted to U.S. concepts, the unemployment rate in Canada was 6.1% in March versus 5.0% in the United States. Compared with March 2015, the unemployment rate increased by 0.2 percentage points in Canada, while it declined by 0.5 percentage points in the United States," said the report from Statistics Canada.

The main Canadian stock market index S&P/TSX last closed down 0.61% at 13,266 points.

The Canadian dollar was 1.05% stronger against its main counterpart the U.S. dollar, and 1.21% versus the euro, and 1.50% against the Japanese yen at 3:00 p.m. CET (9:00 a.m. EDT).

Breaking the News / ZR