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Canada Cranks Out 337,000 Jobs With Restrictions Lifting

  • Gain blows past expectations; unemployment rate falls to 5.5%
  • Strong data reinforces case for more interest rate hikes
A welder works at a metal shop in Langford, British Columbia on Feb. 10.

A welder works at a metal shop in Langford, British Columbia on Feb. 10.

Photographer: James MacDonald/Bloomberg
Updated on

Canada’s labor market blew past expectations last month after the nation lifted Covid-19 restrictions meant to contain the spread of the omicron variant.

The country added 336,600 jobs in February, more than making up for losses in the previous month, Statistics Canada reported on Friday from Ottawa. Economists in a Bloomberg survey were expecting a gain of 127,500.