Canada’s job market shrank by 7,200 positions in March, but the jobless rate held steady at 5.8 per cent.
Statistics Canada reported Friday that most provinces lost jobs, except Saskatchewan, New Brunswick and Prince Edward Island. Those three provinces added 3,900, 3,100 and 2,000 jobs, respectively.
The monthly decline comes on the heels of the best two-month start to the year for Canada’s job market in almost 40 years, with 66,800 new jobs in January and 55,900 in February.
Economists had been expecting a slowdown from those highs, but thought the economy would still eke out a gain of about 2,300 jobs for the month, on average, according to Bloomberg. So the March loss came as a surprise.
More to come
This story originally appeared on CBC