May 26, 2022

Canada March unemployment rate, record low 5.3%

Canada March unemployment

Statistics Bureau of Canada announced on the 8th that the unemployment rate in March was 5.3%, a new record low. It became clear that the labor market was tightening. The number of employees increased by 72,500.

The increase in employment has fallen slightly below analysts’ expectations of 80,000. The unemployment rate was as expected.

Hourly wages for regular employees increased by 3.7%, up from 3.3% in February.

“Beyond’full employment’, the overheating of the labor market is reflected in wage growth,” said Jimmy Jean, chief economist at the Desjardins Group.

Robert Warner is a journalism graduate with keen interest in covering business news – specifically startups. He has as a keen eye for technologies and has predicted quite a few successful startups over the last couple of years. His goal with this website is to report accurately on all kinds of stock news, and have a great deal of passion for technical and active reporting. Robert is diligent and proactive when it comes to news reporting.