Canada sheds 54,500 jobs, the worst loss in more than four years

Financial Post | Business

OTTAWA — It was a dramatic, even ugly, fall back to Earth.

Canada’s labour market — sometimes hot, often lukewarm — turned icy cold in March, reflecting what has been the economic climate on the ground for some time.

[np_storybar title=”‘It doesn’t get much uglier than this'” link=””]Read what the analysts say about Canada’s massive miss on job expectations

More jobs were lost in that month than at any time in four years — back when Canada’s was still in recession — wiping out all the gains, and then some, from the previous month and racheting up the unemployment rate.

There were 54, 500 fewer people working in March, nearly all of those were full-time workers and mainly in the private sector, Statistics Canada said Friday.

More bad news today: Trade deficit jumps to $1-billion as exports drop

That more than reversed the 50,700-job gain in February, while economists…

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