© Reuters. FILE PHOTO: A sign hangs in a window in Ottawa promoting vacancies at the Clocktower Brew Pub
OTTAWA (Reuters) Canada created far more jobs than expected in March, while the unemployment rate fell to its lowest level since before the pandemic, Statistics Canada data showed on Friday.
As a result of the ongoing recovery in the sectors hit by the January shutdown, Canada created 303,100 jobs in March, a triple analyst expectation of 100,000. The unemployment rate fell to 7.5% and exceeded the expected 8.0%.
Employment in the goods manufacturing sector rose by 43,200 jobs, while jobs in the service sector rose by 260,000. Part-time employment increased by 128,000 with 175,000 new full-time positions.
"The economy has clearly been much more open than many believed, and I believe the very mild weather contributed to this very robust comeback," said Doug Porter, chief economist at BMO Capital Markets.
Employment remains 1.5% below pre-pandemic levels, with 296,000 people who were employed in February 2020 still not working again.
The Canadian dollar was virtually unchanged at 1.2559 against the US dollar, or 79.62 US cents, after reclaiming its earlier decline.
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