The financial system shed 33,000 jobs in March, the most important loss since January 2022, whereas the unemployment charge ticked barely increased, Statistics Canada stated on Friday.
The company stated the unemployment charge for March rose to six.7 per cent, in contrast with 6.6 per cent in February.
The hit got here amid elevated uncertainty brought on by U.S. tariffs which have threatened financial progress.
The job losses reversed a number of the beneficial properties made on the finish of final 12 months and into January.
The general lower additionally got here as 62,000 full-time jobs had been misplaced within the month, partly offset by a acquire in part-time employment.
The wholesale and retail commerce sector misplaced 29,000 jobs in March, following a rise of 51,000 in February.
The knowledge, tradition and recreation sector misplaced 20,000 jobs, whereas the agriculture sector misplaced 9,300.
In the meantime, the “different providers” sector, which incorporates private and restore providers, added 12,000 jobs. Utilities added 4,200.
Complete hours labored had been up 0.4 per cent in March, following a drop of 1.3 per cent in February.
Common hourly wages amongst staff rose 3.6 per cent on a year-over-year foundation in March.
Extra to return.
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