Canada’s economy took a hit in the month of April, as nearly two million jobs were lost across the country.
Despite the national unemployment rate shooting up to 13% in April, the end result is better than expected.
Some economists had predicted the unemployment would rise to 18% — and suspected we could see as many as four million jobs lost.
Next week, Prime Minister Justin Trudeau is expected to extend the government’s emergency wage subsidy program. The program is designed to help employers keep workers on the payroll during the pandemic by covering 75% of wages.
