Nearly 1 million Canadians applied for jobless claims last week as economy rapidly deteriorates [Financial Post (Toronto, Ontario, Canada)]
Canadian Imperial Bank of Commerce (CM)
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Source: Financial Post
Nearly 1 million Canadians applied for jobless claims last week as economy rapidly deteriorates The new figure of 929,000 — 5% of the labour force — includes claims made over the weekend, source says Nearly one million Canadians applied for jobless claims last week, representing almost 5 per cent of the labour force, according to a senior government official with knowledge of the data. The new figure of 929,000 includes the half-million unemployment applications first reported by Prime Minister Justin Trudeau in a press conference Friday, but also includes claims made over the weekend, the person said on condition they not be identified because the data is not yet public. The speed and extent of the jump in jobless claims is unprecedented; the previous record for an entire month was 499,200 in 1957, according to Statistics Canada data. The latest claims data highlights the rapidity at which the country’s economy is deteriorating as Canadians stay home and governments urge businesses t
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