The coronavirus pandemic has taken a sizable bite out of the job market in this country.
Statistics Canada reported this morning more than one million Canadians lost their jobs in the month of March. The unemployment rate has also climbed to 7.8%, up from 5.6% in February.
Canada’s national statistics agency used March 15 to 21 as the sample week – a time when the country transitioned into a period of lockdown and businesses were forced to close up shop.
The agency included three new indicators, on top of the usual criteria, to better reflect the impact COVID-19 has had on jobs.
The survey, for example, excludes the more commonly observed reasons for absent workers -- such as vacation, weather, parental leave or a strike or lockout -- to better isolate the pandemic's effect.
They looked at: people who are employed but were out of a job during the reference week, people who are employed but worked less than half their usual hours, and people who are unemployed but would like a job.
Millions of Canadians have applied for federal assistance over the past several weeks, including the Liberal’s Canada Emergency Response Benefit which provides those unemployed with $500 a week for 16 weeks.
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