According to Statistics Canada’s latest Labour Force Survey (LFS), unemployment ratcheted up to 6.9% last month, matching a pre-pandemic high. Joblessness has returned to its level in November 2024, which was the highest since January 2017 (excluding the lockdown portions of the pandemic).
Areas of the economy most exposed to American trade uncertainty are beginning to show signs of trouble, with workers of course bearing the brunt. For example, manufacturing and retail and wholesale trade registered the largest job losses in April. As the repercussions of United States President Donald Trump’s trade war continue to accumulate, Canadian workers are feeling the pinch.
On a year-over-year basis, the number of unemployed people was up by 13.9%, or 189,000 workers. Moreover, among the jobless, long-term unemployment is growing ...
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