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CANADA ECONOMICS: Desjardins Says Parents Bore the Brunt of January Job Losses

· 02/05/2021 07:22

12:12 PM EST, 02/05/2021 (MT Newswires) -- Desjardins on Friday said parents with school-aged children took a big hit in January as closed schools forced them to stay at home.

"As we suspected, restrictions on in-person schooling led to a significant decline in the employment rate for parents of children aged 17 and under," it said in a report. "The employment rate fell 1.5pp to 81.8%. For mothers of children aged 6 to 12, the employment rate fell a heavier 2.9pp, to 77.4%. School closures also had an impact on hours worked for the latter group, with the share indicating seeing their hours cut by more than half, rising to 8.7% (+1.7pp). Overall, employment for women aged 25-54 fell a heavy 103k, although we expect most of these losses will be recouped once again when restrictions are lifted."