Canada Seen Losing Record 4M Jobs in April

From mninews.marketnews.com

Canada is expected to report employment fell by 4 million in April amid the unprecedented shutdowns triggered by Covid-19, a staggering figure for a nation of 38 million people. The estimate in an MNI economist survey would be four times the 1 million job decline in March as health restrictions kept most people at home. The unemployment rate is seen jumping from 7.8% to 16.6%, the highest in records back to 1960 and likely the worst since the Great Depression in the 1930s. Investors should look beyond headline figures to assess workers who are in limbo facing temporary or permanent layoffs, and numbers that suggest ... (full story)