Updated May 9th, 2020 at 11:21 IST
COVID-19: Canada’s unemployment rate stands at 13%, the second-highest ever recorded
As approximately three million Canadians reportedly lost their jobs since March, the country recorded its second-highest unemployment rate ever.
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Amid the unprecedented coronavirus pandemic, approximately three million Canadians reportedly lost their jobs since March which led to the country recording its second-highest unemployment rate ever. According to an international media report, currently, the country’s unemployment rate stands at 13 per cent, however, the statistics Canada said that the rate would be even higher if those who were not actively looking for work were also included.
While addressing the daily news briefing, Trudeau said, "Right now, Canadians are hurting because of this pandemic. Everyone has their own story, but it all boils down to a very difficult time for a lot of people”.
READ: Canada Extends Emergency Wage-subsidy Program
There are Canadians across the country who need our support, and the job numbers released today are a difficult but important reminder of that. We are doing everything we can to make sure you get the support you need - right now and in the weeks and months to come.
— Justin Trudeau (@JustinTrudeau)
The Canadian Prime Minister on May 8 also announced that the emergency wage subsidy will be extended beyond June to help encourage more employers to keep staff on payroll or to help businesses to re-hire employees who are already laid off. According to reports, nearly 100,000 businesses in Canada have already been approved for up to 75 per cent wage subsidy program. Furthermore, approximately 1.7 million workers are also already keeping their jobs while on the program.
Across the country, business owners are using the Canada Emergency Wage Subsidy to keep their workers on the payroll. And to make sure even more business owners and workers get the support they need, we’re going to extend the wage subsidy beyond June.
— Justin Trudeau (@JustinTrudeau)
READ: Coronavirus Crisis: Canada To Help Fund Pay Increase Of Essential Workers
Coronavirus outbreak
The Canadian Chamber of Commerce reportedly called the job losses and the increase in unemployment rate ‘staggering’. The camber further also added that the key to reopening the economy will be ‘re-skilling’ businesses and employees. As per reports, the chamber in a statement said that the key question is how quickly businesses can or will re-hire once the economy reopens even when the social distancing requirements remain in place.
Currently, Canada has more than 66,000 confirmed coronavirus cases and the deadly virus has claimed nearly 4,569 lives in the country. In a bid to contain the virus, Canada also developed low-cost serological test kits for COVID-19 testing using algae. According to reports, the kits will be available in the market in a couple of months from now as algae are cheap to grow and can easily be engineered to produce the viral proteins.
(Image credit: AP)
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Published May 9th, 2020 at 11:21 IST