Canada Loses 112,000 Jobs Since Start of Year, Most Since 2021

The Canadian economy has shed 112,000 jobs since the start of the year, the weakest four-month stretch since the Covid-19 pandemic in 2021.

In April, employment fell by 17,700 while more people looked for work, pushing the unemployment rate up to 6.9%. Economists surveyed by Bloomberg were expecting an increase of 10,000 jobs and for the jobless rate to hold steady at 6.7%.