Canada's Economy Loses Jobs

This is a Canada news story, published by financialpost, that relates primarily to Statistics Canada news.

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unemployment rate prediction

financialpost

•

Business

Business & Economics

Bank of Canada April rate cut still in play as job market weakens, economists say

Summary

Nutrition label

78% Informative

Unemployment rate rises to 6.7 per cent from 6.6 per cent in March , Statistics Canada says.

The economy gave up 33,000 positions last month , missing analysts’ estimates for a gain of 10,000 .

Full-time and private-sector positions took the brunt of the hit, with the former falling by what he calls a “heavy 62,000 ”.

The Bank of Canada might feel compelled to cut rates by another 25 basis points to 2.5 per cent in April , even though Canada missed the reciprocal tariff bullet.

“Weariness about the macroeconomy and recession fears, including that of a global recession, will cause layoffs and delays in hiring across sectors,” she said.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful