Statistics Canada reported on Friday that the number of employed people increased by 303,100 m-o-m in March (or +1.6 percent m-o-m) after an unrevised gain of 259,200 m-o-m in the previous month.

Economists had forecast an advance of 100,000 m-o-m.

Meanwhile, Canada's unemployment rate fell to 7.5 percent in March from 8.2 percent in February, exceeding economists’ forecast for 8.0 percent. This was the lowest rate since February 2020.

According to the report, full-time employment increased 175,400 (or +1.2 percent m-o-m) in March, while part-time jobs rose by 127,800 (or +3.9 percent m-o-m).

In March, the number of public sector employees grew by 45,500 (or +1.1 percent m-o-m), and the number of private sector employees surged by 201,300 (or +1.7 percent m-o-m). Meanwhile, the number of self-employed climbed 56,400 (or +2.1 percent m-o-m) last month.

Sector-wise, employment increased both in goods-producing (+1.1 percent m-o-m) and service-producing (+1.8 percent m-o-m) businesses.