Canada adds ‘puzzling’ 30,000 jobs in February
Canada added 30,000 jobs in February despite concerns over the spreading coronavirus, while its unemployment rate rose 0.1 percentage points to 5.6 per cent, according to government data released Friday.
Statistics Canada said there were more people working in wholesale and retail trade, in manufacturing (for a second consecutive month), as well as in information, culture and recreation. At the same time, employment declined in professional, scientific and technical services and in accommodation and food services.
Economists noted a "puzzling gap" between hiring and a slowing export-driven economy, adding that this latest data would not likely factor into market decisions as it predates what are likely to be the biggest impacts of the COVID-19 outbreak.
"Canada ended the last of the pre-virus jobs reports with a flourish, as a strong month for employment and a healthy wage gain showed that everything was fine in the labor market," said CIBC analyst Avery Shenfeld.
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