Canadian Jobs Data Surprise Investors With Stronger Than Expected Reading!


 Canada's economy gained 21,800 net jobs in February, beating analysts' forecasts, while the unemployment rate also unexpectedly held steady at 5.0%, based on findings released by the Department of Statistics on Friday.

Analysts polled by Reuters had forecast a net addition of 10,000 jobs and the unemployment rate rising to 5.1% in February from 5.0% in January.

Job gains in February were led by job growth in industries including health care and social assistance and public administration, while fewer people worked in business, building and support services, Statscan reported.

Average hourly wages for permanent workers rose 5.4% in February on a year-over-year basis, up from 4.5% in January.

Employment in the goods sector increased by 17,500 net jobs, while the services sector added 4,200 net jobs.

The US dollar was down 0.30% to trade at 1.3784 after the jobs data was released.