Canada’s job-creation run ends in March after six straight months

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Health-care and accommodation led the job losses.

The March job numbers mark a big rebound from last month when payrolls increased by a paltry 20,000 even though the unemployment rate fell - the worst month for job creation since September 2017.

The U.S. Bureau of Labor Statistics' employment figures outpaced the Dow Jones' estimate of 175,000 jobs added during the month.

The labor force participation rate was also little changed, at 63 percent, and has shown nearly no movement over the last 12 months.

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"These groundbreaking job numbers for the month of March are proof that President Trump's pro-growth economic agenda continues to pay dividends", said Adam Brandon, president of the grassroots limited-government/lower-taxes group FreedomWorks. Computer systems design added 12,000 jobs during the month.

The economy added 1,100 goods producing sector jobs, mostly in manufacturing, and shed 8,800 services sector jobs, mostly in healthcare and social assistance, and the business, building and other support services category. For the full year of 2018, the average monthly gain was 223,000.

The six consecutive months of rising employment, that began in September, added around 300,000 jobs.

Why it matters: The province is running against national trends, which saw a slight decline in employment last month.

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"As such, there's nothing here to justify financial markets pricing in the probability of a rate cut by [Bank of Canada governor Stephen] Poloz and company".

Construction added 16,000 jobs, which did not fully offset the 25,000 drop reported in February. Within the industry, employment in motor vehicles and parts declined in March (down 6,000). Employment was up 1.8% year-on-year in March.

Job growth in the US has averaged 180,000 new positions a month so far this year, which is a healthy number but below last year's monthly average of 223,000.

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