Canada March employment +34.7K vs +12K expected

• 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.

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