Jobless Rate Hits 13%

Jobless rate - April 2020

CBJ — According to figures released by Statistics Canada, the Canadian economy’s jobless rate hit 13% in April following the loss of nearly two million jobs.

The bleak numbers come following the shutdown of all non-essential services in an effort to slow the spread of the COVID-19 virus. If there is any tiny positive news at all it’s that many economists had predicted as many as four million jobs were likely going to be lost in April.

While in shutdown some companies have already been forced to permanently close due to the financial losses.

The unemployment level in March was listed at 7.8%.

April’s unemployment rate by province (previous month in parenthesis):

  • Newfoundland and Labrador 16.0% (11.7)
  • Prince Edward Island 10.8 (8.6)
  • Nova Scotia 12.0 (9.0)
  • New Brunswick 13.2 (8.8)
  • Quebec 17.0 (8.1)
  • Ontario 11.3 (7.6)
  • Manitoba 11.4 (6.4)
  • Saskatchewan 11.3 (7.3)
  • Alberta 13.4 (8.7)
  • British Columbia 11.5 (7.2)

@CanBizJournal

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