Canada employment change comes in at 21.8 K
  • Prior month 21.8K. In January jobs rose 150K
  • Employment gain for March 34.7K vs 12.0K estimate
  • unemployment rate 5.0% vs 5.1% expected (5.0% prior)
  • full-time employment +18.8K vs 31.1K last month
  • part-time employment +15.9K vs -9.3K last month
  • Participation rate 65.6% versus 65.7% last month
  • average hourly wages permanent employees 5.2% versus 5.4% last month
  • Total hours worked rose % in March and were up 0.6% on a year-over-year basis.

Head of the release, the market was pricing in an 80% chance of no change from the BOC and a 20% chance of a cut at the April 12 meeting. This ensures that they won't be cutting rates any time soon.

CAD has chopped around on the numbers but is largely unchanged.