Canada loses 7000 jobs in March, unemployment still 5.8%

The U.S. unemployment rate held at 3.8 percent in March, the U.S. Bureau of Labor Statistics reported today.

Healthcare, which grew by 398,000 jobs over the past 12 months, added more jobs in March than professional and technical services, which added 34,000 jobs.

The unemployment rate remained at 3.8 percent in March, and the number of unemployed persons was essentially unchanged at 6.2 million.

Also, men and women who are 55 and older saw gains in employment in March but women 25 years and over saw declines.

The gain comes a month after the Labor Department revised the February numbers to 33,000 from the previous number of 20,000.

The unemployment rate held steady at 5.8 percent for the third straight month.

By demographic group, there was a drop in the employment-to-population ratio (EPOP) for black workers by 0.3 percentage points to 57.9 percent, the lowest since last April. However, at an estimated 47,900, the number of people holding down jobs in the city is down by 2,400.

Compared with a year earlier, the numbers showed that Canada added 331,600 jobs for an increase of 1.8 per cent.

Last week's applications for unemployment benefits came in at 202,000, the lowest level in almost 50 years.

Job creation was a particularly strong suit for the economy a year ago. Total hours worked rose 1.0% month-on-month, the strongest gain in more than a year, but not enough to offset the prior three months' declines.

The six consecutive months of rising employment, that began in September, added around 300,000 jobs.

The labor force participation rate, at 63%, was little changed over the month and has shown little movement on net over the past 12 months, the government said.

In other areas, the employment picture was little changed from the month before. Bars and restaurants added 27,000.

After steadily tightening interest rates last year, much to Trump's chagrin, the Federal Reserve now forecasts it will not raise rates at all this year, taking note of slowing economic activity.