The Canadian economy's six-month streak of job creation -- that included a number of big gains -- came to an end in March.
Employment last month dropped by 7,200 net jobs, the bulk of which were full-time positions, Statistics Canada said Friday in its latest labour force survey. The unemployment rate held firm at 5.8 per cent.
"As it stands, we've had a pretty good run. March doesn't really change that materially. The six-month trend is still pretty strong." Employment for women in the core working age group of 25 to 54 saw a decrease of 47,600 for its biggest month-to-month decline since the start of the data series in 1976. The jobless rate for the category rose to 4.7 per cent from 4.5 per cent.
Avery Shenfeld, CIBC's chief economist, said even with the March drop hiring still looked "very brisk" and perhaps "too brisk" for an economy that's likely growing at between just one and 1.5 per cent.
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