Canada loses 207,100 jobs in April, unemployment rate rises to 8.1pc
- Some 207,100 jobs were lost in April, more than the average analyst prediction of a loss of 175,000. The unemployment rate climbed to 8.1%, missing analyst expectations of 7.8%. Employment remains 2.6% below pre-pandemic levels.
- Full-time employment was down by 129,400 while part-time employment fell by 77,800 positions.
OTTAWA: Canada lost more jobs than expected in April, with the declines driven by coronavirus restrictions in populous Ontario, Quebec and British Columbia, while the unemployment rate rose, Statistics Canada data showed on Friday.
Some 207,100 jobs were lost in April, more than the average analyst prediction of a loss of 175,000. The unemployment rate climbed to 8.1%, missing analyst expectations of 7.8%. Employment remains 2.6% below pre-pandemic levels.
With many retailers shuttered in April and the restrictions also hitting hotels, food services and entertainment, service sector employment plunged by 195,400 jobs. Employment in the goods sector fell by 11,800.
Full-time employment was down by 129,400 while part-time employment fell by 77,800 positions.
"Full-time jobs took a heavier hit during April than they did amid the second wave restrictions," said Doug Porter, chief economist at BMO Capital Markets.
"There were some heavy hits in education and culture and recreation. So it seems like the third wave bit into other sectors a little bit more deeply than the second wave."
The Canadian dollar was trading 0.3% lower at 1.2187 to the greenback, or 82.05 US cents, after touching on Thursday its strongest level in 3-1/2 years at 1.2141.
Comments
Comments are closed for this article.