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Canada lost 7,200 jobs in March, ending 6-month string of gains

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, especially Quebec (down by 12,900 jobs) and Ontario (down 8,800 jobs). British Columbia added 7,900 jobs, Saskatchewan added 3,900 jobs, New Brunswick added 3,100 jobs and Prince Edward Island added 2,000.

Everywhere else, the job market was flat.

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.

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