2 Million jobs lost in April | General financial discussion | Discussion forum

Vatox said
https://www.cbc.ca/news/business/canada-jobs-april-1.5561001  

Yes, this is a lowball number that I suspect will be revised upward next month. Note that March numbers were revised upward by ~200,000 job losses (more than 20%) in all categories.

Moreover, I question the accuracy of this figure. It doesn't reconcile with the 10 million plus CERB processed and approved applications. Some of those (<5-10%) may not have qualified and some of those were from reduced hours or income, but even still, there is more unemployment than was being reflected in this inaccurate data from Statistics Canada. And that's without yet taking into account that this is only the date to April 14-15th.

Nevertheless, using these likely inaccurate numbers, fully 55-60% of Canadians aged 18+ are either not working due to total job loss or not working for myriad other reasons since the included labour force represents only 60% of the Canadian working age population. So, combine the 40% not working with the 14-20% of newly totally unemployed Canadians, and you get to 55-60% of Canadians of working age not working. 🙁

Cheers,
Doug