January 08, 2021, by Jessy Bains
According to Statistics Canada, new COVID-19 lockdowns in the face of rising cases have broken Canada’s streak of employment gains, with a loss of 63,000 jobs in December.
In December, 1.1 million Canadians worked fewer hours or were out of work — compared to 5.5. million in April. Over a quarter of Canadians worked from home, which unfortunately isn’t an option for most of the country’s battered sectors.
The data reflect labour market conditions as of the week of December 6 to 12, which doesn’t include business closures in Alberta and more severe lockdowns in Ontario and Quebec in December. Because of this Capital Economics’ senior Canada economist Stephen Brown says it could have been worse.
All this leads us to think that the January labour force survey will show an even larger 100,000 fall in employment because lockdowns could get even more severe, as cases reach record highs in Ontario, for example. Premier Doug Ford has warned even tighter restrictions than the current lockdown could be coming.
What does this mean?
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