Economics
Canada Jobless Rate Hits Record Low, Stoking Rate-Hike Odds
- Economy adds 73,000 jobs; unemployment rate falls to 5.3%
- Bank of Canada expected to ‘act forcefully’ at next decision
A paving crew works on a road in Victoria, British Columbia.
Photographer: James MacDonald/BloombergThis article is for subscribers only.
Canada’s unemployment rate fell to the lowest level since at least the mid-1970s, as the labor market posted another strong monthly employment gain.
The economy added 72,500 jobs in March, following a blockbuster gain of 337,000 in February, Statistics Canada reported Friday in Ottawa. The jobless rate fell to 5.3%, the lowest in monthly records dating back to 1976, down from 5.5% in February.