The Canadian economy added 337 thousand jobs in February, according to data released a few moments ago by Statistics Canada, an increase of about 1.8%, after losing 200 thousand jobs in January, better than expectations that indicated the addition of about 132 thousand jobs.

On the other hand, the unemployment rate declined to 5.5%, a decrease of 1%, compared to 6.5% in January, while expectations indicated a decline to 6.2%, to come in its best performance since May 2019.

In the details, the private sector added about 347 thousand jobs, an increase of about 2.8%, while accommodation and food services came at the forefront of the sectors by adding 114 thousand jobs, and the information, culture and entertainment sector added about 73 thousand jobs.

The Canadian dollar reacts positively after the statement and trades at 1.2723 levels against the US dollar