Economics
Canada Lost About 2 Million Jobs in April, Less Than Feared
- Employment drop is below 4 million forecast by economists
- Unemployment rate climbs to 13%, near historic highs
About 7.6 million Canadians -- or more than one-third of the pre-crisis labor force -- have applied for emergency benefits.
Photographer: James MacDonald/BloombergThis article is for subscribers only.
Canada lost 2 million jobs in April as a result of pandemic-related shutdowns, by far the biggest decline on record but only about half what economists had expected.
The drop in employment adds to the 1 million decline in March. The jobless rate jumped to 13% in April, the agency said Friday in Ottawa. Economists were anticipating a loss of 4 million jobs last month, with the unemployment rate rising to 18%.