Canada’s economy lost 1 million jobs in Canada due to Coronavirus (COVID 19) so far, next months it might reach 2 million jobs lost compared to 2008/2009 Global Recession which was only 128,000 jobs were lost in Canada.
The Service industry has been hardest hit, the impact effect every corner of the country, Restaurants are empty, small businesses shut down and hotels without guests, Shopping Centre cleared out the lists go on. More than any other sector, the services industry has been decimated by COVID 19 Pandemic of the million jobs lost 963,500 were in the services industries, retail, wholesale, Full-time/ Part-time.
The unemployment rate for Canada jumped 2.2 Percent of the largest one-month increase in the record. Unprecedented job loss but jobs not lost forever
The previous high lost jobs were 125,000 in the historic recession of 2009 the difference in magnitude is stunning the unemployment jolt was felt across Canada
|Regions||Number of Jobs Lost March 2020|
Data was updated: 04/10/2020 Source: | Global News
No Region was spared in the hard-hit service sector across Canada. Some groups are disproportionately affected women, young workers, vulnerable workers in low-paying jobs and the numbers only reflect the beginning of the pandemic a month from 1 million job losses could be 2 million.
Yet, it would be worse but for the stimulus from Ottawa and other government emergency benefits going to millions of Canadians.