In Canada, one million people remain unemployed

In Canada, one million people remain unemployed

Canada's labour market registered a historic decline in employment in March due to the coronary pandemic. 1.01 million workers lost their jobs, the biggest decline since 1976. The unemployment rate rose to 7.8%, compared to 5.6% in February. More than 4 million people either in [...]

1.01 million workers lost their jobs, the biggest decline since 1976. The unemployment rate rose to 7.8%, compared to 5.6% in February.

More than 4 million people, or one in five workers, have applied for emergency assistance after the government imposed socially distant measures and ordered the closure of several companies to slow down the spread of the Coronavirus.

Before the pandemic, the largest decline in labor in Canada was in January 2009, when 125,000 people lost their jobs.

Now the numbers are worse than economists expected. They predict in March that unemployment will increase by 500,000.

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