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5 Things to Know Today: Key Money Headlines for Canadians

1. Spring Economic Update Lands Today Finance Minister François‑Philippe Champagne tables the 2026 Spring Economic Update this afternoon, outlining Ottawa’s latest fiscal outlook and new measures aimed at supporting Canadians amid global instability. 2. Fuel Excise Tax Temporarily Suspended Prime Minister Mark Carney has paused the federal excise tax on gas, diesel, and aviation fuel , offering short‑term relief as energy prices remain elevated due to geopolitical tensions.  3. Canada’s First Sovereign Wealth Fund Announced Carney has unveiled the Canada Strong Fund , the country’s first sovereign wealth fund, designed to finance major national infrastructure and economic‑building projects in partnership with the private sector.  4. CPP & OAS Payments Arrive Today New CPP and OAS payments are being issued today, including adjustments for seniors affected by recovery tax calculations, which are spread across monthly OAS payments.  5. Global Instability Conti...
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Trade Tensions Take Toll: Canada Loses 33,000 Jobs in March

 

Canada's labour market faced a significant setback in March, shedding 33,000 jobs—the largest monthly decline since January 2022. This drop pushed the unemployment rate up to 6.7%, a slight increase from February's 6.6%.

The job losses were primarily concentrated in full-time positions, with 62,000 roles eliminated. Sectors such as wholesale and retail trade, as well as information, culture, and recreation, bore the brunt of the decline. However, some gains were observed in part-time employment and industries like utilities and personal services.

Economists attribute this downturn to the escalating trade war with the United States, which has introduced tariffs on Canadian exports, including steel and aluminum. These measures have created uncertainty for businesses, leading to layoffs and a cautious approach to hiring.

As Canada navigates these economic headwinds, policymakers and businesses alike face the challenge of mitigating the impact of trade tensions on the labour market. The coming months will be critical in determining the broader implications of these developments on the nation's economy.

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