March unemployment report for US and Canada T

March unemployment report for US and Canada


The US unemployment rate jumped to 4.4 percent in March 2020, the highest since August 2017 and well above market expectations of 3.8 percent, as the Covid-19 crisis threw millions out of work. The number of unemployed increased by 1.35 million to 7.14 million, while the number of employed declined by 2.99 million to 155.77 million. The numbers are expected to get even worse in April as the government surveyed businesses and households for the report in mid-March, before majority of people was under some form of a lockdown.

https://tradingeconomics.com/united-states/unemployment-rate



The unemployment rate in Canada rose to 7.8 percent in March 2020 from 5.6 percent in the previous month and above market expectations of 7.2 percent. It was the highest jobless rate since October 2010, as the coronavirus pandemic began to take hold. The economy shed more than 1 million jobs, well above forecasts of a 350 thousand decline, due to both full-time work (-474 thousand) and part-time employment (-536.7 thousand). The labour force participation rate went down to 63.5 percent from 65.5 percent, its lowest level since June 1979. In March, the overall youth unemployment rate increased to 16.8 percent from 10.3 percent in the prior month, recording the highest jobless rate since June 1997.

https://tradingeconomics.com/canada/unemployment-rate




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