MNI DATA IMPACT: Canada Wage Growth Picks Up Despite Job Cuts>

By Yali N'Diaye

     OTTAWA (MNI) - The following are the key points from the March data 

on the Canadian Labor Force Survey released Friday by Statistics Canada: 

     - The Canadian economy shed a net 7,200 jobs in March, while the 

market consensus was at +10,000 and MNI consensus was flat. This was the 

largest monthly decline since August 2018. The private sector lost 

17,300 jobs, the largest drop since January 2018, while the public 

sector added 4,200 positions. 

     - However, the unemployment rate remained stable at 5.8%, as 

expected, with the participation rate edging down to 65.7% from 65.8%. 

     - The overall picture remains favorable, as the monthly decline 

came on the back of a cumulative gain of 122,700 jobs in February and 

January. Over the first quarter, the economy added 116,000 jobs, the 

most since 4Q 2017. 

     - Full-time employment fell 6,400 and part-time was down 900. The 

overall monthly employment decrease was led by services, with 8,800 

positions lost, while goods-producing industries added 1,600 jobs, led 

by manufacturing and utilities. Details in services were mixed, with 

strong declines in health care, business, building and other services, 

as well as accommodation and food. Still, the services sector added 

136,600 jobs in the first quarter, the most since 1Q 2007, led by the 

private sector. 

     - Despite March job cuts, wage gains accelerated, giving more 

indication that the upward momentum since the beginning of the year 

could be a turnaround. Average hourly wage growth for permanent workers 

picked up to 2.3% year-over-year from 2.2% in February. 

     --MNI Ottawa Bureau; email: yali.ndiaye@marketnews.com 

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