Canada's unemployment rate rises to 6.9% in April

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Canada's Unemployment Rate Rises to 6.9% in April 2025

Canada's unemployment rate increased to 6.9% in April 2025, up from 6.7% in March, according to Statistics Canada. This marks the highest level of joblessness since November and represents the second consecutive monthly increase in the unemployment rate.

Key Details:

• The Canadian economy added a modest 7,400 jobs in April, which was slightly above economists' expectations but insufficient to offset the rising unemployment rate.

• The total number of unemployed individuals rose by 39,000, a 2.6% increase for the month. Year-over-year, unemployment is up by 189,000 people, or 13.9%3.

• The employment rate-the share of the working-age population that is employed-fell to 60.8%, a six-month low.

• The manufacturing sector was particularly hard hit, losing 31,000 jobs in April, largely attributed to the impact of U.S. tariffs on Canadian goods such as steel, aluminum, and automobiles.

• Public sector employment saw a boost of 23,000 jobs, mainly due to temporary hiring related to the federal election.

• Wage growth for permanent employees remained steady at 3.5% in April.

Economic Context and Outlook:

• The rise in unemployment comes despite minimal overall job gains and reflects ongoing challenges in the labor market, particularly in manufacturing and sectors affected by trade tensions and tariffs.

• The Bank of Canada has warned that economic growth may slow further in the coming months as exports decline, prices rise, and layoffs become more frequent.

• Some economists suggest that the weak job market could support the case for a Bank of Canada interest rate cut in June, though more evidence may be needed before policy changes are made.

Summary Table

Canada's labor market remains under pressure, with job growth failing to keep pace with population increases and external shocks such as U.S. tariffs impacting key industries. The situation will be closely watched by policymakers and economists in the coming months.

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Produced By: Cyborg Wealth

Researched By: Malik Rafaiy