Jobs data shows surprise growth; interest rate cut may be further away

Jobs data shows surprise growth; interest rate cut may be further away

Jobs data shows surprise growth; interest rate cut may be further away Canada’s job market gained unexpectedly in March after losing 1,000 positions in February. There were 28,700 extra jobs last month but the employment rate remains at 6.8 per cent. While an increase is good news most of the gains have come from 56,800 part-time roles with full-time positions declining by 28,200. Public sector jobs accounted for most of the new jobs, adding 26,500 while the private sector added 19,300. Services gained while manufacturing lost slightly and there were 17,000 fewer self-employed Canadians. Economists said that the figures show that there is still only moderate growth in the economy but that an interest rate cut is now less likely to happen in the near future.