The Financial Post reports in its Saturday, May 10, edition that U.S. tariffs impacted Canada's April jobs report, with the unemployment rate rising to 6.9 per cent from 6.7 per cent in March, exceeding the 6.8-per-cent estimate. The Post's Gigi Suhanic writes that the economy added 7,400 jobs, slightly above the 5,000 predicted. This was a shift from March's loss of 32,600 jobs, aided by federal election-related hiring, despite significant declines in manufacturing, retail and wholesale employment. TD economist Leslie Preston says, "Canada's economy added jobs in April largely thanks to temporary work for the federal election, but scratch beneath the surface and Canada's labour market continued to soften." Tariffs from the U.S. are affecting Canada's labour market, leading to a loss of 31,000 jobs in manufacturing and 27,000 in wholesale and retail trade in April. While monthly labour data can be volatile, Canada has seen a three-month average job decline and an increase in the unemployment rate, with wage growth slowing to 3.4 per cent in April from 3.6 per cent in March. TD expects the Bank of Canada to cut rates by 25 basis points at its next meeting on June 4. RSM's Tu Nguyen expects more job losses in manufacturing and trade.