Canada loses record-breaking 2.0 million jobs in April. Unemployment rates surges to 13%.

  • Analysts had forecast a loss of 4 million jobs and an unemployment rate of 18%, up from 7.8% seen in March.
  • Most non-essential business have been shut down since mid-March.
  • 97% of the newly-unemployed were on temporary layoff.
  • The unemployment rate comes in nearly 2 points better than the US number (14.7%) reported today. Per capita infection rates in Canada (1.7K/1 million) are half the US rate (3.9K/1 million).