Canada Partly Regains Jobs Lost in March with 12,500 More Jobs in April

This article was last updated on April 16, 2022

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A report recently released by Statistics Canada on Friday, portrays that Canadian economy in April has regained almost 12,500 out of the 54,500 jobs it had previously lost in March, although the unemployment rate still remained largely unchanged at 7.2 percent. These statistics are mostly in compliance to the median forecast, as it was predicted that almost 15,000 new jobs will be added and a 7.2 percent jobless rate.

The trends in the job market are still being considered intensely volatile because of the unexpected huge job loss in March being followed by a large gain of 50,700 positions in February. These employment statistics are calculated on a mere sample survey of representative households and are always deemed as accurate only to within plus or minus 57,400, i.e. 19 times out of 20. TD Securities chief Canada macro strategist, David Tulk, informed Reuters that “it was a very choppy report, but basically in line with consensus. Nothing that really stands out to really drive policy one way or another.” He added that “the initial knee-jerk move lower in the Canadian dollar … — that will just unwind itself and we shouldn’t see any lasting implications from this report.”

The reports have shown that April job gains were mainly due to an increase in full-time employment all over the country. It was explained that the full-time jobs increased by 36,000, whereas the part-time positions decreased by 23,000. Statistics Canada pointed out that for the first time since last June, manufacturing work increased jobs by 21,000.