Canadian economy lost 63,000 jobs in Dec., first decline since April

Article Link: https://www.ctvnews.ca/business/canadian-economy-lost-63-000-jobs-in-dec-first-decline-since-april-1.5258622

Canada posted its first monthly decline in jobs since April amid tightened public health restrictions in December, and economists warn the losses are likely to continue as the number of new COVID-19 cases continue to rise. Statistics Canada said Friday the economy lost 63,000 jobs in December while the unemployment rate edged up to 8.6 per cent compared with 8.5 per cent in November. Had it included in the calculations Canadians who wanted to work last month but didn’t search for a job, the unemployment rate would have been 10.9 per cent in December, unchanged from November. “Due to both the continuing rise in virus cases to open the new year and the further curtailments of activity since the last survey, another month of job losses could be on the horizon in January,” CIBC senior economist Royce Mendes said.