Posted 4/5/2024, 12:55:48 PM
Canada Sees Unexpected Job Losses and Rising Unemployment in March
- Canada unexpectedly lost 2,200 jobs in March and unemployment rose to 6.1%, the highest since January 2022
- This missed expectations for a gain of 25,000 jobs and 5.9% unemployment rate
- The job losses highlight growing weakness that may lead the Bank of Canada to consider rate cuts
- The majority of people unemployed in February remained jobless in March, indicating difficulties finding work
- Accommodation, food services, wholesale, retail trade and professional services shed the most jobs
