Statistics Canada says the financial system misplaced nearly 213,000 jobs in January as employment fell to the bottom stage since August final 12 months, wiping out the features made within the fall.
The unemployment charge rose 0.6 share factors to 9.4 per cent, the very best charge since August.
Monetary information agency Refinitiv says the typical economist estimate was for a lack of 47,500 jobs in January and an unemployment charge of 8.9 per cent.
The losses have been nearly solely concentrated in Ontario and Quebec, and principally within the retail sector as lockdowns and restrictions closed many companies.
Employment declines have been heavy within the providers sector and part-time work fuelling the most important month-to-month decline since April when some two million jobs have been misplaced.
Statistics Canada says the losses in January now put the nation 858,300 jobs, or 4.5 per cent, in need of employment ranges from final February simply earlier than the primary wave of the COVID-19 pandemic.
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The unemployment charge would have been 12 per cent in January had Statistics Canada included in its calculations Canadians who needed to work however didn’t seek for a job.
Losses in January marked a second straight month that the labour market contracted after 63,000 positions disappeared in December to interrupt a streak of month-to-month features that started in Could 2020.
January’s employment figures present the “persevering with problem of balancing financial exercise with the necessity to defend public well being,” Statistics Canada notes within the report, and the way restrictions hit particular sectors and teams of employees tougher than others.
Leah Nord, senior director of workforce methods on the Canadian Chamber of Commerce, says immediately’s “sadly bleak” jobs report factors to a must discover a new method to handle the pandemic.
“We merely can’t afford to be in a holding sample till vaccines arrive,” she says.
“We’d like new methods to handle the pandemic. The financial prices might very nicely injury Canada’s financial system and structurally alter our labour market in methods that won’t simply be repaired.”
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