After what seemed like months of endless growth, the Canadian economy just experienced its first job loss in almost 7 months. Statistic Canada released their March employment survey and for the first time since August of 2018, the economy actually lost jobs last month. 7200 of them to be exact.
According to the report for March 2019, Statistic Canada says that Canada experienced major job loses in the private sector with 17,300 being lost. Fortunately, in the public sector, there was actually an increase with 4200 jobs being created. This increase was also seen in the number of people who are self-employed, which rose in March by 6000. At the end of the day though, that adds up to a net loss of 7200 jobs.
This is a stark contrast with how the past few months have been going. Ever since taking a major hit and losing over 50,000 in August of last year, the number of jobs across the country has been growing. In fact, since then the Canadian economy has added over 200,000 jobs. On top of that, from this time last year, the economy has grown by over 330,000 jobs. This helps to soften the blow of the most recent job loss.
This recent loss was felt differently across the country. In fact, some provinces actually experience growth in the number of jobs, while others weren't so lucky and ended up taking a big hit this past March.
In fact, the province that experienced the worst of the loss was actually Quebec, where they lost 12,900 jobs in March. Ontario was only a bit behind them, losing 8800 jobs last month. Alberta also felt the loss with 1800 jobs gone, as did Newfoundland who lost 800 jobs.
On the other side of it, some provinces had significant growth in their job numbers. For instance, BC is at the head of the pack with an added 7900 jobs in March. Not far behind them is Saskatchewan with 3900 jobs added then New Brunswick with 3100 jobs. PEI saw an additional 2000 jobs while Manitoba increased by 200.
The only province which showed no net change was Nova Scotia. Their total employment change was zero, but within that various sectors and industries gained and lost jobs throughout the month. Nonetheless their net-loss is still zero.
This recent loss puts an end to Canada's strong economical start to 2019, which had actually been the strongest start to a year since 1981.