Together, this has resulted in a 25 percent decline in total hours worked since February. The unemployment rate in May 2020 was worse than that experienced during the 2007–09 global financial crisis, increasing to 13.7 percent. It would have been even higher had 1.2 million Canadians not left the labour force due, in part, to their inability to search for work.
What’s more, job losses were more pronounced among lower-wage workers, who typically have less savings and less access to credit. That leaves them more vulnerable to this economic shock.4 Consequently, labour income fell in the first quarter, dropping sharply in March.