Canada's Workforce Woes: Tariff Turmoil Hits Jobs

Canada experienced a drop in employment numbers in March due to the ripple effects of U.S. tariffs, marking the first decline in over two years. The unemployment rate increased slightly to 6.7%, with job losses particularly noted in full-time positions and sectors like construction and retail.

Canada's employment landscape took a hit in March as the nation grappled with the repercussions of U.S.-imposed tariffs. The total employment fell by a net 32,600, marking the first decline in over two years and primarily affecting full-time positions.

Statistics Canada reported that the dip came on the heels of a steady job market in February and substantial gains earlier in the winter months. The unemployment rate inched up to 6.7%, with analysts having anticipated a weaker job market amidst uncertainty surrounding tariffs.

U.S. President Donald Trump's decision to impose a 25% tariff on Canadian steel and aluminum has reverberated across the economy, spurring layoffs and cautious spending among Canadians. As fears of a recession loom, job losses are expected to continue, impacting not only Canada but also the wider global economy.

(With inputs from agencies.)