2.5 Million Canadians unemployed due to Covid-19
In April 2020 the number of unemployed workers peaked at 2.5 million, 40% higher than the highest level ever recorded in the Labour Force Survey.
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May 12, 2020
In April 2020 the number of unemployed workers peaked at 2.5 million, 40% higher than the highest level ever recorded in the Labour Force Survey.
As the number of COVID-19 cases continued to rise in Canada, Statistics Canada's March release of the Labour Force Survey showed a decline of nearly 1,000,000 jobs.
To understand why unemployment rates can never be zero this article explains how the three main types of unemployment (structural, cyclical and frictional) arise.