Canada loses jobs for first time in 3 years as US tariffs bite

Prime Minister Mark Carney has vowed Canada volition propulsion backmost against US tariffs. Photo: ANDREJ IVANOV / AFP
Source: AFP

Employment successful Canada fell for the archetypal clip successful 3 years successful March, the nationalist statistical bureau said Friday, arsenic uncertainty implicit US tariffs led businesses to chopped unit and stall hiring.

Canada shed immoderate 33,000 nett jobs successful the month, pushing the unemployment complaint up 0.1 percent constituent to 6.7 percent, according to Statistics Canada.

"I cognize that a large galore Canadians are worried," Prime Minister and Liberal person Mark Carney said Friday astir the latest tariff announcements.

"The weeks and months to travel volition not beryllium easy, but we volition not wantonness you. We volition combat against these tariffs," Carney said astatine a run lawsuit successful Montreal up of nationalist elections.

The March jobs diminution was driven by losses among full-time workers, who had seen a "strong upward inclination successful the 2nd fractional of 2024," Statistics Canada said successful a statement.

These losses were mostly successful the backstage sector, peculiarly wholesale and retail, arsenic good arsenic information, civilization and recreation.

Canada was mostly spared from the sweeping planetary tariffs US President Donald Trump announced Wednesday, arsenic Washington granted an exemption to goods compliant with the US-Canada-Mexico escaped commercialized agreement, which covers astir products.

But connected Thursday the 2 neighbors slapped tit-for-tat 25 percent tariffs connected immoderate vehicles crossing the border, coming aft Washington imposed levies connected Canadian alloy and aluminum.

Washington past period besides announced but past paused tariffs connected astir Canadian goods and energy imports into the United States, saying that was successful effect to amerciable migration and the deadly cause fentanyl coming into the United States.

Economists had expected the Canadian occupation marketplace to commencement to dilatory successful March arsenic companies held backmost connected investments and hiring, which surged successful December 2024 and January, adding 211,000 nett caller jobs, earlier flatlining successful February.

But they were amazed by the grade of the losses, with CIBC Economics expert Andrew Grantham saying the statement forecast had pointed to a summation of 10,000 nett caller jobs.

"The wheels whitethorn beryllium starting to autumn disconnected the Canadian labour market," helium said successful a probe note.

However, helium added, staffing levels "in areas expected to beryllium the archetypal (and) hardest deed by US tariffs were mixed, with transport and warehousing posting an summation portion manufacturing employment fell modestly."

TD elder economist James Orlando commented that "businesses and consumers are people hesitant successful the look of heightened governmental uncertainty."

"Today's study reflects this," helium said, adding that Canadians who suffer their jobs are besides taking longer to find work.

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Source: AFP