Employment numbers are the centre of attention with good news out of the U.S., but not so much in Canada.
Employers in the United States added 227,000 jobs in February. That
beat expectations and held the unemployment rate steady at 8.3%. But the
important points here are: more people have re-entered the job market and the
hiring was very broad based.
Canada, on the other hand, the unemployment rate fell two-tenths of a percentage
point, to 7.4%, even though the economy shed 28-hundred jobs. The decline in
the rate is the result of some 38 thousand people dropping out of the job market
– all in Ontario.
Mortgage Ontario rates remain steady.