Canada lost more than one million jobs in March during the initial stages of the COVID-19 pandemic, Statistics Canada reported Thursday, with economists warning that the worst is yet to come. The economy lost 1,011,000 jobs in March, the worst recorded single-month drop. Ontario alone lost more than 400,000 jobs. “The employment decline in March was larger than in any of three significant recessions experienced since 1980.”Some economists were suggesting Thursday that not all lost jobs will make a return once the pandemic subsides, which could dash hopes of a V-shaped economic recovery. “Because they had not looked for work and they were not temporarily laid off, these people are not counted as unemployed,” StatsCan said.

Source: thestar April 09, 2020 09:56 UTC