Statistics Canada reported a rising unemployment rate of 6.9% in April, the highest since November, with notable job losses particularly in the manufacturing and trade sectors, attributed to the tariffs imposed by the US. The manufacturing sector lost 31,000 jobs, while there were 27,000 cuts in wholesale and retail trade. Public sector employment, however, increased by 23,000, influenced by temporary hiring for the federal elections held on April 28. Despite the overall unemployment rise, average hourly wages remained steady at 3.5%, indicating limited inflationary pressures.
Statistics Canada reported an unemployment rate of 6.9 percent for April, marking a significant increase, largely attributed to job losses in the manufacturing sector.
The tariffs imposed by the US have severely impacted Canada’s export-dependent economy, particularly leading to the loss of 31,000 jobs in the manufacturing sector.
Despite job losses in sectors like manufacturing and retail, public sector employment rose by 23,000, influenced by temporary hiring for the federal election.
The employment rate in Canada rests at 60.8 percent, its lowest in six months, reflecting a troubling trend where population growth outpaces job creation.
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