The Canadian economy added 7,400,000 jobs in April, according to data released just moments ago by Statistics Canada, compared to a loss of approximately 32,000 jobs in March and February, better than expectations of approximately 4,000 jobs. Meanwhile, the unemployment rate rose 0.2% to 6.9% in April, compared to 6.7% in March. Expectations had been for a rise to 6.8%, marking its highest level since October 2021.
Employment gains in April were primarily in the public administration sector, coinciding with a rise in temporary employment for activities related to the recent federal election, adding approximately 37,000 jobs. The finance, insurance, real estate, and leasing sector added approximately 24,000 jobs, while the manufacturing sector lost approximately 3,100,000 jobs, due to the impact of export tariffs, marking the first decline since November 2024. The wholesale and retail trade sector lost 2,700,000 jobs.
At the provincial level, employment increased in Quebec (128,000 jobs), Alberta (15,000 jobs), and Manitoba (5,700 jobs), while employment declined in Ontario (-35,000 jobs) and Nova Scotia (-8,500 jobs).