Canada’s unemployment jumped to its highest level since November as United States President Donald Trump’s imposed tariffs affect the export-dependent economy.
Statistics Canada showed a 0.2 percent increase for the month of April, bringing the country’s unemployment rate to 6.9 percent, according to its report released on Friday.
The 6.9 figure matched November unemployment, which was an eight-year high outside of the pandemic era.
The agency pointed to the effect tariffs imposed by the US had on the country’s manufacturing sector, which lost 31,000 jobs on a monthly basis. The wholesale, retail and trade sector saw 27,000 jobs cut.
Employment in the public sector increased by 23,000 or up 0.5 percent in April, following three months of little change, especially due to increased temporary hiring for the federal election that took place on April 28.
The average hourly wage growth of permanent employees, a metric closely watched by the Canadian central bank to gauge inflationary trends, was at 3.5 percent in April, …