Canada’s 3rd COVID-19 wave creates “zigzag” economy

Canada’s economy is zigzagging through the third COVID-19 wave. Statistics Canada says the country lost 207,000 jobs in April, reversing substantial progress made in March.

A spike in COVID-19 variant cases led to renewed public health restrictions and raised concerns about longer-term economic consequences from the pandemic.

The unemployment rate rose to 8.1 per cent from 7.5 per cent in March, Statistics Canada reported. It would have been 10.5 per cent had it included in calculations Canadians who wanted to work but didn’t search for a job.

Ontario led the way on losses regionally with a drop of 153,000, and British Columbia witnessed its first decrease in employment since a historic one-month plunge in the labour market in April 2020.

Nationally, losses were heavier in full-time than part-time work, with retail and young workers hit hardest as a resurgence of the virus and its variants forced a new round of restrictions and lockdowns.

Eric Sorensen looks at how unemployed Canadians are coping.

For more info, please go to https://globalnews.ca/news/7842060/april-jobs-data-statistics-canada/

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Source: Global News

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