The Canadian economy unexpectedly shed 7,200 jobs in March, its first decline in...
OTTAWA - The Canadian economy unexpectedly shed 7,200 jobs in March, its first decline in seven months, Statistics Canada data showed on Friday, reinforcing market expectations that the Bank of Canada will keep interest rates unchanged next month.
Analysts said the small decline in March, following six months of consecutive gains, was unlikely to alter the Bank of Canada’s view of employment as a bright spot in Canada’s economy. The central bank, which has hiked rates five times since July 2017, held rates steady last month. The next rate decision will be April 24, when the bank also will provide its quarterly monetary policy update.
Full-time jobs dropped by 6,400 from February to March, while 900 part-time jobs were shed, the data showed.
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