Canada Loses 42,000 Jobs in August as 50% US Tariffs Deepen Trade Strain
Updated
Updated · CBC Sports · Sep 4
Canada Loses 42,000 Jobs in August as 50% US Tariffs Deepen Trade Strain
3 articles · Updated · CBC Sports · Sep 4
Summary
42,000 jobs vanished in August, sharply missing forecasts for a 15,000 gain, while Canada’s unemployment rate held at 6.4%.
20,000 public-sector jobs were cut for a third straight monthly decline, with private-sector employment little changed.
Quebec lost 19,000 jobs and Ontario 18,000 after Canada had added 75,000 positions in July.
50% U.S. tariffs on about $28 billion of Canadian products took effect last month, and Canada is set to answer Tuesday with tariffs on $27.6 billion of comparable U.S. goods.
$7.5 billion in new federal relief was announced last week, adding to nearly $25 billion in tariff support already deployed over the past 18 months.