The unemployment rate rose to 13.7 per cent, topping the previous high of 13.1 per cent set in December 1982 in more than four decades of comparable data.The average economist estimate was for a loss of 500,000 jobs in May and for the unemployment rate to rise to 15.0 per cent, according to financialThe increase in the number of jobs comes after three million jobs were lost over March and April, and about 2.5 million more had their hours slashed.
Statistics Canada says the number of people who worked less than half their usual hours fell by 292,000 in May. Combined with the increase in jobs, Statistics Canada says the country recovered 10.6 per cent of employment losses and absences related to the COVID-19 pandemic. The total number of unemployed Canadians doubled from February to April, a surge driven by temporary layoffs that the vast majority of workers expected to last less than six months.
At the same time, there was a spike in the number of people who wanted to work but weren't actively looking for a job, likely because the economic shutdown has limited job opportunities.The unemployment rate for May would have been 19.6 per cent had the report counted among the unemployed those who stopped looking for work - largely unchanged since April.
Leftist politics always ends in disaster.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada unexpectedly adds 290,000 jobs on gradual reopeningStill, the unemployment rate ticked up to 13.7% in May, a postwar record as people returned to the labour force Trudeau continues to destroy our country while Trump continues to make America great Some can make as much on unemployment then working Wait until CERB is finished, then you will see the real numbers
Source: nationalpost - 🏆 10. / 80 Read more »
Statistics Canada reports a record high unemployment rateStatistics Canada reports a record high unemployment rate as the economy added 289,600 jobs in May, with businesses reopening amid easing public health restrictions. Why do you report such stupid things. Of course unemployment is high. YOU SHUT DOWN THE ECONOMY you dummies. It’s like the weather network saying it’s going to be light out during the day and dark tonight. Well done PMJT and liberals. We shut down the economy for 86% of cases in LTC. Government failed BIG TIME. We will never recover from the things missed out on for an overblown virus with a 99.9% survival rate! Time to open it all up! Especially for the kids minimal reports 0-19yrs
Source: CTVNews - 🏆 1. / 99 Read more »
U.S. economy adds 2.5 million jobs in May; unemployment rate drops to 13.3%The May job gain suggests that businesses have quickly been recalling workers as states have reopened their economies
Source: globeandmail - 🏆 5. / 92 Read more »
Heat-trapping carbon dioxide in air hits new record highThe world has hit another new record high for heat-trapping carbon dioxide in the atmosphere, despite reduced emissions because of the coronavirus pandemic. Horrifying. Lmao!!!!!! 🙄
Source: CTVNews - 🏆 1. / 99 Read more »
Mexico reports spike of 1,092 coronavirus deaths in one dayNew number was more than twice as high as previous record The president is off his rocker, the government is trying to hide the real numbers, hospitals are primative and way under-funded and the general populace has a low level of education and doesn't seem to give a crap. This hellride is just starting. Dr. Luc Montagnier reveals how Covid-19 is a lab accident. He was awarded the 2008 Nobel Prize in Medicine for the identification of AIDS.He currently works at University in China. The characteristics of the new coronavirus could not have arisen naturally
Source: globeandmail - 🏆 5. / 92 Read more »