The Societe generale de financement du Quebec reported Thursday a $261 million loss for 2008.

The SGF invests in Quebec companies that look like they will succeed. In a press release, the Societe seemed vaguely stunned.

"The speed and scope of this crisis that hit us in 2008 was unprecedented. The manufacturing sector, which was already struggling in 2007, was severely shaken," the SFG said.

The announcement comes the same day that Statistics Canada announced Canada lost 61,300 full-time jobs in March, bringing the unemployment rate to 8 per cent.

"In Quebec, although employment was little changed in March, the unemployment rate increased 0.4 percentage points to 8.3%, as more people entered the labour market," said Statistics Canada.

The SGF plans to continue to invest in Quebec companies. It received $1 billion from the government to provide funds for companies that are profitable, but whose lines of credit have been cut off by banks trying to stave off insolvency.