Canada sheds jobs for second month as pandemic restrictions bite

Canada’s economy lost 68,000 jobs in May, marking the second consecutive month of job losses.

Canada’s labor market weakened for a second month amid widespread restrictions to control a third wave of Covid-19. The economy lost 68,000 jobs in May, Statistics Canada reported Friday in Ottawa. That adds to the 207,100 positions lost in April. The unemployment rate rose to 8.2%, from 8.1%. Economists in a Bloomberg survey had predicted a loss of 25,000 jobs, with a jobless rate of 8.2%. Despite the back-to-back monthly setbacks, analysts expect a quick rebound as early as this month as containment measures are lifted. Ontario and Quebec — the two biggest provinces — have been gradually reopening in recent weeks, with the pace of vaccinations picking up speed and cases falling.