INSUBCONTINENT EXCLUSIVE:
national unemployment rate also rose sharply to 6.9%
This marks the highest jobless rate since November and signals that U.S
tariffs on vehicles and parts not covered by the CUSMA trade deal have forced manufacturers to cut positions.The broader goods-producing
sector lost 33,000 jobs, while wholesale and retail trade also shed 27,000 jobs
Meanwhile, the services sector added 40,300 jobs, mostly in public administration and finance.However, these gains were largely due to
temporary hiring linked to the federal election and did not offset the industrial decline
Despite a modest net gain of 7,400 jobs across the economy, population growth outpaced job creation, pushing the unemployment rate up by 0.2
(Photo Internet reproduction)The number of Canadians seeking work or on temporary layoff rose by 39,000 in April, and year-over-year,
unemployment increased by 13.9%
Those out of work faced greater difficulty finding new employment, with 61% of the unemployed in March still jobless in April.This marks an
increase from 57.3% during the same period a year earlier
TariffsThe new tariffs, including 25% duties on steel, aluminum, and many vehicles, have raised costs and reduced competitiveness for
Canadian goods in the U.S
market.This has led to decreased demand, supply chain disruptions, and mounting operational challenges for Canadian businesses
The Bank of Canada has warned that these trade barriers could further weaken GDP growth, slow hiring, and increase layoffs in the months
after the 2008-09 financial crisis.The sector has shown resilience, with projected annual growth of 1.23% through 2029 and a market value
expected to reach $159.4 billion
However, the current trade conflict threatens to stall this progress.Canadian businesses have started to diversify export markets, with
exports to countries outside the U.S
Yet, the immediate impact of U.S
tariffs remains severe, and the outlook for industrial employment remains uncertain as trade negotiations continue.The real story is clear:
