Unemployment rate in Windsor increases

07 April, 2019, 18:43 | Author: Mary Valdez
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"Of course, last month's nosedive was disappointing, especially after December and January had such impressive numbers despite some sizable headwinds".

Nationally, the unemployment rate remained unchanged at 5.8 per cent in March.

For Canada, the jobless rate stayed the same at 5.8 per cent.

Year-over-year average hourly wage growth for all employees in March was 2.4 per cent, which was up from a reading of 2.3 per cent in February.

The U.S. dollar was little changed on Friday against a basket of major currencies after a jobs report for March showed than U.S. job gains were better than expected during the month while wage pressures were muted. This evidence of slowing is limited, but there certainly is no basis in this report for believing that a tight labor market is creating inflationary pressures in the economy. By comparison, in 2000, when the unemployment rate averaged 4.0 percent, the percentage due to voluntary quits averaged 13.7 percent. The employment-population ratio was 60.6 percent in March and has been either 60.6 percent or 60.7 percent since October 2018. Both the S&P 500 and the Nasdaq Composite grew 0.3 percent. The Dow Jones Industrial Average traded almost 70 points higher, or 0.25 percent, led by Nike, which announced today a surprising endorsement deal with No. 1 tennis star Naomi Osaka. Ever since taking a major hit and losing over 50,000 in August of past year, the number of jobs across the country has been growing.

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On the establishment side, health care was the largest contributor to job growth, adding 49,100 jobs. At the end of the day though, that adds up to a net loss of 7200 jobs.

Employment rose by 13,000 jobs in the finance, insurance, real estate, rental and leasing industry; most of the increase in March was in British Columbia, Ontario and Alberta. In fact, since then the Canadian economy has added over 200,000 jobs. This is the first decline since July of 2017.

Retail lost 11,700 jobs in March after losing 20,200 jobs in February. Employment was up 1.8% year-on-year in March. The declines were spread across categories with even nonstore retailers (largely Internet) losing jobs. For instance, BC is at the head of the pack with an added 7900 jobs in March. Despite strong denials from Moscow, U.S. and European Union intelligence have accused Russian Federation of election interference in recent years.

Statistics Canada gauges that 6,900 more people have jobs now in Brantford, compared to figures from six months ago. Government economists say that sector has been among the most stable over the last few months.

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