Loonie Surges After Canada Job Gains Blow Past Expectations
- Economists caution of underlying softness in jobs report
- Job gains failing to keep pace with population surge
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Canada’s job gains beat expectations but hiring failed to keep up with a rising population and wage growth cooled, keeping the door open for the central bank to cut rates as early as next month.
The country added 90,000 jobs in April, driven by part-time positions, while the unemployment rate held steady at 6.1%, Statistics Canada reported Friday in Ottawa. The figures beat expectations for a gain of 20,000 positions and a jobless rate of 6.2%, according to the median estimate in a Bloomberg survey of economists.