Canada loses 55,000 jobs in March

April 5, 2013

The following is excerpted from today’s article by CBC News.

Canada's economy lost 55,000 jobs in March, bleak new data from Statistics Canada showed Friday.

As a result, Canada's jobless rate ticked higher to 7.2 per cent.

Provincially, Quebec, British Columbia and Alberta lost jobs, and employment edged down in Ontario. The only province with an increase was Nova Scotia.

Private sector hiring, the engine of growth that policymakers keep a close eye on, actually fared even worse. There were 85,000 fewer private sector workers in March, while the public sector was largely unchanged,

There was an increase of 39,000 among self-employed people that counteracted the decline.

Much of the losses came among those in the core working-age group of those between 25 and 54. Among those younger than 25 and older than 54, the job numbers were pretty steady.

The Canadian dollar lost half a cent to trade below 98 cents US in reaction to the news.

This article is available in its entirety at: http://www.cbc.ca/news/business/story/2013/04/05/business-jobs-canada.html.

Topic(s)

International Trade and Border Management

Information source

Canadian News Channel

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