Ontario Added 10600 Jobs in March

Ontario Added 10600 Jobs in March

With labour market slack diminishing, wage growth picked up a bit in March. That is well below the average of 187,000 new jobs added per month over the past year. Job growth is also moderating as the labor market hits full employment.

Wage data came in in-line with expectations, however, as average hourly earnings rose 0.3% over the prior month and 2.7% over the prior year. Employers added 326,000 jobs that month - the largest monthly haul in two years.

Powell said that he and his colleagues discussed the trade situation when they met about two weeks ago, but indicated that it was too early to speak of implications for the economic outlook.

Worries about tariffs haven't dampened the need for workers, Frankiewicz said, but they could be keeping pay down.

Speaking in Chicago after the release of the jobs report, Powell said that the Fed expects the employment situation to remain strong, suggesting that the central bank will carry out its telegraphed plan to keep raising interest rates gradually, two or perhaps three more times this year.

"This morning's figures may suggest a little less momentum heading into the second quarter, but taken with other data, the continued expansion in total hours worked points to a modest acceleration in activity this quarter, provided we manage to avoid shooting ourselves in the foot on trade policy", said Michael Feroli, an economist at JPMorgan in NY.

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The company now offers a 401 (k) to all employees and provides a prescription drug discount card. Construction jobs, heavily influenced by the weather, dropped by 15,000 in March. Leisure and hospitality employers added only 5,000 jobs last month, the least since September. Retail, however, fell, with 4,400 jobs lost during the month.

The biggest jobs gains occurred in manufacturing, health care and white-collar jobs with 22,000 manufacturing positions created. Still, the expansion has been puzzlingly slow, with economic growth averaging just 2.2 percent per year - about a percentage point below the historical average.

The civilian labor force participation rate fell 0.1 percentage point to 62.9%.

Rather, there has been gradual improvement underway for many years that continues apace. Macroeconomic Advisers, a consulting firm, forecasts the economy grew at just a 1.4 percent annual rate in the January-March quarter - less than half the 2.9 percent annual pace of the October-December quarter.

Federal Reserve Chairman Jerome Powell said Friday that such measures "suggest a labor market that is in the neighborhood of maximum employment", meaning that few workers are still on the sidelines and a further decline in the unemployment rate could raise inflation.

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