Canada lost a record-breaking 2 million jobs in April while the unemployment rate surged, data showed on Friday, and Ottawa said it was extending a wage subsidy program that helps firms deal with coronavirus shutdowns.
FILE PHOTO: A woman walks past a"Help wanted" sign at a retail store in Ottawa, Ontario, Canada, November 2, 2017. REUTERS/Chris Wattie
“These numbers are and should be profoundly worrying to all Canadians. Our country is going through a very, very trying economic time,” said Deputy Prime Minister Chrystia Freeland. Trudeau said more details would be released next week. The program is already budgeted to cost C$73 billion , or just under half the entire value of all the measures Ottawa has unveiled.
The Canadian dollar strengthened to a one-week high of C$1.3922 to the U.S. dollar, or 71.83 U.S. cents.
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