Ontario lost 403,000 jobs in March, nearly 1.2 million workers affected by COVID-19

Ontario lost a record-breaking number of jobs in the month of March due mostly to the COVID-19 pandemic.

The Federal Accountability Office (FAO) released a report Thursday that outlined the effects of the provincial government’s measures to contain the spread of the virus on the labour market.

The report says the province lost 403,000 jobs, causing the unemployment rate to jump to 7.6 per cent in March. It was the largest monthly increase in the jobless rate on record.

The number of job losses is more than four times larger than the previous monthly record in January 2009, during the global financial crisis.

Last month, Premier Doug Ford announced a mandatory shutdown of all non-essential businesses in the province.

The FAO estimates roughly 1.2 million Ontario workers were directly affected by the shutdowns through either job losses or sharply reduced hours, representing almost one in six jobs in the province.

The accommodation and food services industries were hit the hardest, with wholesale and retail trade, and health and social assistance following behind.

The report says almost 80 per cent of the job losses occurred in the private sector, but self-employment and the public sector also suffered significant losses.

The FAO says the province will likely experience significant additional job losses in April due to the government’s recent widening of restrictions on businesses.

For a full look at the detailed report, click here.