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More Canadians Lose Jobs
World Economy

More Canadians Lose Jobs

Canada’s economy shed almost 20,000 jobs in April as a small uptick in full-time work was more than offset by a large drop in part-time jobs.
Statistics Canada reported that the unemployment rate stayed steady at 6.8 percent.
The loss of 19,700 jobs was worse than the 5,000 that a consensus of economists was expecting, according to Bloomberg.
The economy dumped more than 66,000 part-time jobs during the month. That more than offset a gain of almost 47,000 full-time jobs.
“Although employment declined by a larger than expected 19,700 in April, the details showing strong full-time gains was reassuring,” Capital Economics said in a research note.
Target finally closed all of its stores on April 12 this year, throwing a lot of part-time employees out of work. Statistics Canada reported that the economy shed almost 20,000 jobs in April, with a small rise in full-time work more than offset by a large drop in part-time jobs.
Major retail chains Target and Future Shop closed their doors during the month, and a large number of those positions would have been of the part-time variety. The trade sector, which includes retail jobs, lost more than 20,000 jobs during the month by itself.
The weak April jobs numbers come on the heels of a March in which the economy unexpectedly created more than 28,000 jobs, Statistics Canada says.
Energy-rich Alberta added 12,500 net jobs last month — even though the province’s natural resources sector lost 3,500 positions at a time of lower oil prices. The province’s sector had 17,200 fewer jobs compared to a year ago, down 9.5 percent, but its unemployment rate stayed at 5.5 percent.
The data also showed that British Columbia lost 28,700 net jobs last month and saw its unemployment rate rise to 6.3 percent, up from 5.8 percent the month before. Quebec added 11,700 jobs while Ontario lost 14,300.
By sector, the construction industry was one of the biggest losers, shedding 28,400 jobs. The public sector also weighed down the numbers, with a loss of 19,900 positions during the month.

 

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