PEI’s unemployment rate rose to 7.4% in March

The Provincial unemployment rate rose in March to 7.4 percent as employment saw a slight drop.  The unemployment rate was at an even 7.0 percent in February.   Canada’s unemployment rate jumped to 6.1 per cent last month — the largest increase since summer 2022.   Statistics Canada says the economy shed 22-hundred jobs in March, after modest increases over the last several months.   Most of the job losses were in accommodation and food services.  Employment increased in four industries, led by health care and social assistance.  StatCan says the increase in the jobless rate was driven by an increase of 60-thousand people searching for work or temporarily laid off.