Another month, another round of massive job losses in Canada:
Canada is shedding jobs at a rate not seen since the deep recession of the early 1980s, as March saw another 61,300 workers join the ballooning ranks of the unemployed.
The loss brought Canada’s official unemployment rate to eight per cent, the worst in seven years.
Statistics Canada noted that since the peak in October, employment has fallen each month for a total of 357,000, representing 2.1 per cent of the work force. That is the most since 1982.
Economists had been expecting another poor jobs report with about 55,000 jobs lost.
But the reality was slightly worse, and much worse if the 18,200 jobs increase in part-time work were taken out.
Rising part-time work at a time of falling employment is usually an indicator that Canadians are settling for whatever jobs they can find. Among full-time workers, the contraction in employment was another outsized 79,500 in March.
So. As Uncle Steve and the Harpercons sadly continue to lose their shit, the Canadian job market keeps hemorrhaging. And, waiting in the wings, we have Iggy and the Torie-lites, ready to save us all by doing, er, pretty much the same bullshit Harper and Co. have been doing, only with less asshattery, sweatervests and painfully-forced smiles.
We are so fucked.