Canadian youth and women were particularly hard hit by record-breaking job losses in March, since they were more likely to work in sectors that closed down to prevent the spread of the coronavirus, analysts said on Thursday.
FILE PHOTO: A view of Yonge and Dundas Square, as the number of the coronavirus disease cases continue to grow in Toronto, Ontario, Canada April 8, 2020. REUTERS/Carlos Osorio/File Photo
As a result, the employment rate for youth fell to 49.1%, the lowest on record since 1976, when the agency adopted its current model for calculating unemployment. “It likely reflects the industries they work in, rather than the fact they’re youth or women,” said Avery Shenfeld, chief economist at CIBC Capital Markets when asked about the jobs data.
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