929,000 Canadians said to apply for jobless benefits last week vs 27,000 normally


That’s an astonishing number, from Bloomberg sources

The population of Canada is just shy of 40 million and the workforce is around 25 million people. So nearly one-in-25 people were laid off in a single week.

Trudeau last week highlighted that a year ago, this week in March had 27,000 employment claims. This is a 34x increase.

The US system is more scattered and shutdowns haven’t been as aggressive or abrupt so it’s unfair to extrapolate to a single week but if you did, it would imply 7.1 million jobless claims. That’s more than 10x the all time one-week record.

That's an astonishing number, from Bloomberg sources


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