Economy lost 68,000 jobs in May, unemployment rate rose slightly to 8.2% - News Summed Up

Economy lost 68,000 jobs in May, unemployment rate rose slightly to 8.2%


Canada's labour market shed 68,000 jobs last month as tighter public health restrictions continued or were introduced in many regions of the country to slow the third wave of the COVID-19 pandemic. Statistics Canada's Labour Force Survey data released Friday shows the employment rate was 8.2 per cent, up from 8.1 per cent in April, leaving employment at 3 per cent below pre-pandemic levels. The Statistics Canada report said the extension to Ontario's stay-at-home order accounted for most of the employment decline. "With fewer people engaged in the labour market, Canada could face labour shortages as demand for labour recovers faster than supply. He said "a lot of people are uncomfortable" about getting back into the labour market, with some wondering if it's safe.


Source: CBC News June 04, 2021 14:06 UTC



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