Canada Unexpectedly Loses Jobs in April

Canadian employment declined for the second time in three months in April, casting doubt on the Bank of Canada’s forecast for a rebound this quarter.

Employment fell by 28,900 in April, Statistics Canada said today in Ottawa. The unemployment rate remained at 6.9 percent as 25,600 people also left the labor force, reducing the participation rate to the lowest since November 2001. Economists surveyed by Bloomberg News projected a 13,500 job increase and a jobless rate unchanged at 6.9 percent, according to median forecasts.