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article imageCanada's Unemployment Rate Hits Seven-Year High

By Bob Ewing     Apr 9, 2009 in Politics
Employment, in Canada, declined by 61,000 in March, all in full-time work. This decrease pushed the unemployment rate up 0.3 percentage points to 8.0%, the highest rate in seven years.
Statistics Canada's Labour Force Survey reports since reaching a peak in October 2008, employment has fallen each month, with net losses totalling 357,000 (-2.1%). In percentage terms, this is the largest decline over a five-month period since the 1982 recession.
Since October, full-time employment has declined by 2.8% (-387,000) while part-time has edged up 0.9% (+30,000).
March's losses were widespread, however, manufacturing; finance, insurance, real estate and leasing, construction and natural resources were most affected.
These losses were only partially offset by gains in "other services"; and business, building and other support services.
The largest declines
were in British Columbia (-23,000), Alberta (-15,000) and Ontario (-11,000). Since October, these three provinces also had the fastest rate of employment decreases.
March's employment losses were spread among core-aged men (25 to 54), youths (15 to 24), and women 55 and over. Since the start of the downturn in October, employment has fallen by 3.1% for core-aged men, the largest five-month loss in 33 years.
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