"We are beginning to see some glimmers of increased confidence, but we also know we have a long road ahead of us to recovery", she said. Economists polled by Reuters had forecast the unemployment rate jumping to 19.8% in May and payrolls falling by 8 million jobs. "They're individuals. They're small businesses who have really struggled and are continuing to struggle as we move into recovery", James said.
The Canada Revenue Agency also said this week that nearly 190,000 payments of wrongfully received benefits had been made as of June 3. She said further support will come I July with an increase climate action tax benefit for low- and modest-income people.
Economists had been watching the CERB numbers as a proxy for Friday's jobs report, which set up expectations for another round of job losses.
"It touches the huge number of job losses in this period".
Canada's jobless rate has reached a record 13.7 percent, although the country added 290,000 jobs in May after two months of layoffs due to the COVID-19 economic shutdown, Statistics Canada said on Friday. He scheduled a press conference at 10 a.m. ET to address the results.
Plus, ongoing national unrest following the death of George Floyd - an unarmed black man who was killed in police custody on May 25 - has led many retailers and malls to postpone reopenings or cut back on operating hours, reducing the number of workers required back in stores.
This is an increase from April, where the rate was 54.9 per cent, but is still down from the employment rate in May 2019.
About 76,000 Sudburians were employed last month, down from 79,400 in April. Not only are those industries the hardest hit for young people, they are also the hardest hit overall. People not actively seeking work aren't counted in unemployment figures.
Still, with states allowing businesses to reopen, employment last month rose sharply in leisure and hospitality, construction, retail trade and education and health services, according to the data.
In May, employment rebounded more strongly in the goods-producing sector (up five per cent or 165,000 jobs) than in the services-producing sector (up one per cent or 125,000 jobs).
However, the unemployment rate is still on par with numbers seen during the Great Depression, the report said. The survey suggests that may be an indication that employers' initial adaptation to the easing of COVID-19 restrictions involved re-hiring former employees or finding new workers.