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In a shift from the recent trend of a steadying labor market, Canada’s job market experienced a setback in March, shedding 2,220 positions. This decline follows two months of robust employment gains. Despite the setback, the longer-term outlook remains positive, with an average of 21,000 jobs added each month over the past six months.
While this is an unfortunate step back, economists caution against placing too much emphasis on a single month’s data, and instead emphasizing the importance of considering longer-term trends to better understand the underlying growth of the job market.
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