Canada Loses A Million Jobs In March, CB Jobless Rate Up
Stats Canada says the country lost more than a million jobs last month as the economic effects of the COVID-19 pandemic started to kick in.
The old record of 129,000 lost jobs was set in January of 2009 at the height of the last recession.
The national unemployment rate shot up to 7.8% in March from 5.6% in February.
Meanwhile, Cape Breton’s unemployment rate in March was 14.2 per cent.
That’s an increase of 1.4 percentage points compared to February.
But it’s a 1.4 percentage point drop from March of last year.