Canada’s job market continues to show signs of weakness, according to the latest report from Statistics Canada, and experts say this shows how much the trade war is negatively impacting our economy, as well as the ability for households to afford the cost of living.
This was especially the case in Ontario, which saw tens of thousands of jobs lost and unemployment spike in the province to well above the national average.
“The April Labour Force Survey showed the first direct hit from the trade war after several months of anticipation,” says economist Brendon Bernard at Indeed.
The overall unemployment rate in Canada increased to 6.9 per cent last month from 6.7 per cent in March, and although there were 7,400 net new jobs added (meaning the number of new jobs minus the amount of jobs lost), Statistics Canada considers that result to be practically no growth at all, or zero per cent.
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Canadians have been growing more concerned about job losses in recent months as …