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Jordan- Canada loses 7,200 jobs, its first employment drop in seven months



(MENAFN - Jordan News Agency)
Ottawa, April 6 (Petra)--- Canada posted its first employment drop in seven months, ending an unusually strong run of job gains.

Employment fell by 7,200 in March, mostly full-time positions in the services sector, a statement by the country's Statistics Commission late Friday said .

Canada's economists had forecast employers would add 6,000 jobs, but statistically, the decline is considered a flat reading and the country's jobless rate was unchanged at 5.8 per cent.

It was only a matter of time before Canada's jobs market cooled after a sharp rise in employment in recent months, particularly as other indicators have showed a much weaker picture.

Canada's economy had added 290,000 jobs between August and February, the largest six-month increase since 2002. Those gains however were out of line with other indicators that showed production stalling at the end of last year, in part because of falling oil prices.

The strong performance of the jobs market up to now has been one of the reasons why the Bank of Canada has stuck to its belief the economy will rebound later this year.

Employment has been one of the most-resilient areas of an economy that has shown signs of slowing down in recent months, the figures showed.

In March, the number of employee positions in the private sector fell by 17,300, while public sector-employee jobs increased by 4,200 and self-employed occupations rose by 6,000.

S Kh
06/04/2019 09:17:55

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Jordan- Canada loses 7,200 jobs, its first employment drop in seven months

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