Canadian dollar hits one-week low as job boom fades

Canada's economy gained jobs for several months in a row up until March

Nursing and residential care facilities added 8,500 jobs.

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

While the number of people working part-time for economic reasons rose slightly from the recovery low hit in February, it is down by nearly 10 percent from its year-ago level.

Employment in the USA mining industry, excluding oil and gas extraction, increased in March for a fourth-straight month, the Labor Department reported Friday.

"These groundbreaking job numbers for the month of March are proof that President Trump's pro-growth economic agenda continues to pay dividends", said Adam Brandon, president of the grassroots limited-government/lower-taxes group FreedomWorks.

Based on Stats Canada's industry sector breakdown, agriculture has seen the strongest year-over-year growth with 3,500 jobs.

The number of initial jobless claims dropped by 10,000 to 202,000, which was the lowest level since December 1969, according to the bureau.

Last month's employment gains marked a significant increase over the revised 33,000 jobs added in February and exceeded analysts' predictions of roughly 179,000 new jobs. The Labor Department reported a drop of about 10,000 in jobless claims, bring the overall number to roughly 202,000, the lowest number on record since December 6, 1969.

Even as tightness persisted in the labor market, the U.S. Federal Reserve (Fed) left its interest rates unchanged after concluding a two-day policy meeting on March 20. In 2018, employment growth in the United States averaged 223,000 per month.

The service sector saw the biggest gains in employment.

MA added 20,300 jobs from From February 2018 to February 2019. This is despite adding a net 123.3k jobs over this time, with more than half in full-time work. Employment was up 1.8% year-on-year in March.

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