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Canada lost over 1M jobs in March, unemployment rate rises to 7.8%

  • Last Updated:
  • Apr 11th, 2020 6:21 am
12 replies
Deal Guru
Feb 29, 2008
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More to come. Seriously though, this isn’t as big of a scary headline as you would think. We literally paused the economy which wiped out a lot of jobs that will come back. Many won’t come back but this is nothing compared to the headlines we will see when the economy restarts. Companies are holding back.
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Jan 6, 2002
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Toronto
JayLove06 wrote: More to come. Seriously though, this isn’t as big of a scary headline as you would think. We literally paused the economy which wiped out a lot of jobs that will come back. Many won’t come back but this is nothing compared to the headlines we will see when the economy restarts. Companies are holding back.
But you also have to anticipate that companies will use this as a great thinning-of-the-heard dead-wood-clearing opportunity of the decade once things do come back.
As someone long prepared for the occasion, in full command of every plan you wrecked---
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Deal Guru
Feb 29, 2008
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hoob wrote: But you also have to anticipate that companies will use this as a great thinning-of-the-heard dead-wood-clearing opportunity of the decade once things do come back.
For sure. Companies will be cutting loose a lot of dead weight when the lockdown is over. I think that’s a story.
Deal Fanatic
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Nov 13, 2010
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Scarborough
It would be pretty more devastating if this lockdown lasts months more. Recovery only begins when some businesses can reopen even with restrictions.
Like allow stores like clothing, shoes etc to allow pickup (instead of shipping only)
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Aug 20, 2012
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Pacific Ocean
US is way worse. According to leading economists US is already in an early depression with 12-13% unemployed and claims more than 16.8 MIL in 2 weeks alone with more to come. Expected to hit 20% soon enuff.
If the glove don't fit you must acquit! #WINNING
Deal Fanatic
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Nov 13, 2010
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Scarborough
Our streets are deserted. So many places shutdown so i think its gotta be like 80% unemployment not a small 7.8%
Doesn’t make sense at all at the moment
Member
Nov 8, 2009
475 posts
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apnayloags wrote: Our streets are deserted. So many places shutdown so i think its gotta be like 80% unemployment not a small 7.8%
Doesn’t make sense at all at the moment
A lot of people are still working from home or still on payroll depending on their jobs. It will get worse though as companies/government realize they can't keep people on payroll forever.
Deal Fanatic
Jan 18, 2003
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Mississauga
i think those numbers are based on mid March.... it's alot worse since then...
Deal Expert
Feb 24, 2007
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Hate to see what the next 12 months will bring.
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Aug 20, 2012
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Pacific Ocean
TGokou wrote: A lot of people are still working from home or still on payroll depending on their jobs. It will get worse though as companies/government realize they can't keep people on payroll forever.
June 30 is the max based on modelling. It will be earlier, no doubt. Cdn govt jas only budgeted for 4 mos anyway. US modelling suggests early to mid-may where new cases will asymptotically hit zero if peeps do what Dr Fauci says. Canada is way less in cases and deaths. Still one of the lowest countries based on pop. size. US is nuts... just exponentially larger, not even arithmetic. If Canada has 569 deaths by arithmetic calc they shud only have 5000-6000 deaths but having near 19000 deaths and over 500k cases is crazy. Trainwreck down there.
If the glove don't fit you must acquit! #WINNING

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