Canada lost almost two million jobs during the month of April, a record high, as the impact of COVID-19 on the economy made itself known. Statistics Canada's Labour Force Survey data released Friday brings the total number of jobs lost during the crisis to more than three million. Economists on average had expected the loss of four million jobs and an unemployment rate of 18 per cent, according to financial markets data firm Refinitiv. The losses in the service sector also continued in April, down 1.4 million, or 9.6 per cent, Statistics Canada says. Economists say the increase is because a disproportionate share of job losses in low-paying positions has allowed the average wage to rise.

Source: CBC News May 08, 2020 12:42 UTC