The Canadian economy recorded 259,200 job creations in February, most of which were full -time jobs as reported by the Canadian Department of Statistics on Friday. On the other hand, the unemployment rate dropped to 8.0%
This released reading is a positive sign in the labor market. The increase in jobs in February was the largest increase since September 2020 and fell above analyst estimates.
The job readings recorded today were far more than economists ’expectations targeting just 75,000 jobs to be added in February and the unemployment rate fell to 9.2%.
The USD/CAD currency strengthened began to decline with a 0.14% consolidation to pars 1.2541 as of 9.50 p.m. The dollar is still moving positive is also driven by confidence and market trends
