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Record low unemployment rate in British Columbia+ T: E$ g4 k U1 t
For a third straight month, British Columbia's unemployment rate reached a record low. In March, the unemployment rate dipped to 3.9%. The British Columbia economy added 13,000 workers in March, bringing total gains for the first quarter to 47,000 (+2.1%). The March employment rate, at 63.8%, was the highest in three decades.
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The manufacturing sector continued to show strength in British Columbia, up 11,000 in March and 25,000 since August 2006. The provincial economy also benefited from strong gains in information, culture and recreation, up 18,000 (+17%) in the first three months of the year.
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Quebec's employment rose by an estimated 29,000 in March, the largest monthly gain since May 2006. As a result, Quebec's employment rate increased to 60.8%, its highest level in three decades. Gains in March were spread across a number of industries. The unemployment rate in Quebec edged down to 7.6%, hovering near its 31-year low.
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For the second consecutive month, employment was little changed in Alberta in March. Employment losses in the goods sector (-19,000) were offset by similar increases in the service sector. This was the first sizable monthly decline in the goods-producing sector since March 2005. The unemployment rate in Alberta remains the lowest in the country, at 3.6%8 B9 `& e6 u* z8 o/ C
- b) y9 E" b9 m) B( i; l7 |# _Employment in Manitoba grew by an estimated 3,100 in March, primarily in accommodation and food services as well as in utilities. The province reached a new record high employment rate of 66.3%. For the first quarter of 2007, employment rose by 6,000 or 1.0%, mostly in the goods sector.1 ^/ {; w" A6 h P; l
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Overall employment in Ontario was little changed in March, as growth in the service sector was partly offset by weakness in the goods sector. So far this, year employment is up only 0.4%, well below the national growth rate of 0.9%.
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2 e& x3 R4 s( L& xIn the North, the proportion of people aged 15 and over working remains high. In Nunavut, the employment rate increased to 63.1% in March, up from 55.6% from one year ago (three-month moving average). Employment rates in the Northwest Territories at 75.0% and in the Yukon at 67.3% were virtually unchanged compared to March of last year.
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2 m! I( N4 ^- P2 g3 Z* R7 JWages increase in several provinces. x8 G) F/ t3 G3 I& t+ T
During the first three months of 2007, the average hourly wage in Canada rose an estimated 2.4% compared to the same period last year. This exceeds the most recent comparable Consumer Price Index, which increased by 1.6%.
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* t5 n7 A% J* F" u+ ZAlberta's booming labour market continued to exert pressure on the province's wages, which rose 5.4% for the first quarter of 2007 compared to the same period last year. This increase was tempered by a 4.5% rise in consumer prices. Similarly, wage growth of 3.6% in British Columbia was dampened by a 2.2% increase in prices.
9 F" a& k/ A, RNew Brunswick and Manitoba also benefited from sizeable wage increases in the first quarter of 2007. In New Brunswick, the average wage increase was 3.8%, well above the 0.6% increase in consumer prices. Manitoba also experienced a notable rise in the average hourly wage (+4.4%) compared to an increase in prices of 1.8%. |
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