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Job Report in Canada, May 2020 – Employment rebounds and absences from work drop and unemployment reaches record

Employment rebounds and absences from work drop

From February to April, 5.5 million Canadian workers were affected by the COVID-19 economic shutdown. This included a drop in employment of 3.0 million and a COVID-19-related increase in absences from work of 2.5 million.

In May, employment rose by 290,000 (+1.8%), while the number of people who worked less than half their usual hours dropped by 292,000 (-8.6%). Combined, these changes in the labour market represented a recovery of 10.6% of the COVID-19-related employment losses and absences recorded in the previous two months.

Unemployment rate reaches record high as restrictions ease and more Canadians look for work

The unemployment rate was 13.7% in May, the highest rate recorded since comparable data became available in 1976. In February, prior to the COVID-19 economic shutdown, the unemployment rate was 5.6%. It increased to 7.8% in March and 13.0% in April.

 

 

Chosen excerpts by Job Market Monitor. Read the whole story @  The Daily — Labour Force Survey, May 2020

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