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|March employment numbers surprise economists||| Print ||
|Written by Justin Crann, Michael Gregory, and Dino Pasalic|
|Thursday, 05 April 2012 10:23|
According to numbers released by Statistics Canada Thursday, the Canadian economy added 83,200 jobs in March, surpassing economists' estimates after a slumbering winter.
The upswing in jobs, the majority of which were full-time, lowered the unemployment rate by 0.2 per cent to 7.2 per cent.
A story published by The Canadian Press said the numbers were almost eight times what ecomonists had forecasted.
Ontario, Quebec and Manitoba were the main beneficiaries with gains coming in the fields of health care, social assistance, information, culture and recreation, and public administration.
The country's private sector is responsible for much of the rise, showing a 1.7 per cent increase over the last 12 months.
StatCan said there had been little change in the public sector and self-employment.
The majority of the jobs were scooped up by youth and those 55 and over.
An aging population has meant a steady rise in employment for older Canadians, according to StatCan.
In March, 47,000 jobs went to people over 55 - up 5.8 per cent over the past year.
However, even despite the 39,000 jobs for young Canadians, the total number of those employed hasn't changed much since July 2009, or what StatCan calls the "lowest point of the last labour market downturn."
Despite the encouraging news, by mid-day Thursday the S&P/TSX index continued it's three day slide dipping to 12,089.
The loonie was also down almost a half-cent against the greenback, trading at 0.9928.
Thedailyplanet.com reporters Justin Crann and Dino Pasalic have more.
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