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    11.03.2016 13:42 Canada’s unemployment rate rises rose to 7.3% in February

    Statistics Canada released the labour market data on Friday. Canada's unemployment rate rose to 7.3% in February from 7.2% in January. Analysts had expected the unemployment rate to remain unchanged at 7.2%.


    The labour participation rate remained unchanged at 65.9% in February.


    The Bank of Canada monitors closely the labour participation rate.


    The number of employed people fell by 2,300 jobs in February, missing expectations for a rise of 9,000 jobs, after a 5,400 decrease in January.


    The decrease was driven by a drop in full-time work. Full-time employment dropped by 51,800 in February, while part-time employment climbed by 49,500 jobs.


    Employment declined in health care and social assistance, educational services, 'other services,' and natural resources.

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