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- Canada’s economy shed 19,700 jobs in April, driven by a drop in part-time jobs
Canada’s economy shed 19,700 jobs in April, driven by a drop in part-time jobs
Statistics Canada released the labour market data on Friday. Canada's unemployment rate remained unchanged at 6.8% in April. Analysts had expected the unemployment rate to rise to 6.9%.
The number of employed people dropped by 19,700 jobs in April, missing expectations for a loss of 5,000 jobs, after a 28,700 rise in March.
The loss was driven by a drop in part-time jobs. Part-time employment in April plunged by 66,500 jobs, the biggest loss since March 2011, while full-time work rose by 46,900.
Retail and wholesale employment decreased by 20,500, construction employment fell by 28,400, while 18,900 people left the labour force.
The labour participation rate fell to 65.8% in April from 65.9 in March.
The Bank of Canada monitors closely the labour participation rate.
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