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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI BRIEF: Canada Unemployment Rate Falls To Lowest Since 1976
Unemployment in March fell to the lowest in Statistics Canada records back to 1976 as companies hired back service workers following restrictions during the omicron Covid wave. Wage gains pushed further above the central bank's target range in the last major data before Governor Tiff Macklem is expected to hike lending rates by 50bp.
The jobless rate fell to 5.3% from 5.5% in February, the agency said Friday, beating the prior low of 5.4% set in May 2019. Employment climbed another 72,500 following February's 336,600 surge. Economists predicted 38,000 jobs and a steady unemployment rate.
Hourly wages rose 3.4% from a year earlier, faster than February's 3.1% pace, and for permanent employees they climbed 3.7%. While long-term unemployment was 25% greater than a year earlier, a measure including people who stopped looking for work returned to pre-pandemic levels for the first time.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.