The first half of this year has been kind to the Canadian economy. Even though the improvement is a step in the right direction, it has not balanced the losses from the third wave of the pandemic. The first half saw a total of 231,000 employment opportunities achieved. The data from a detailed survey of Canada’s Labor Force was done on the second week of June. If we take a closer look at the months preceding June, we will realize that the country witnessed a job loss amounting to 275,000.
Canadian employment rates were on a promising but steady ascend since November of last year. However, the upward trajectory saw a decline in January, bringing us to the continuous ascend witnessed in a previous couple of months. Progress towards rebuilding the employment rate in the country is not linear. The third wave influenced the implementation of restrictions in May that put a damper on a lot of social-economic activities.
The sunny side of restrictions is that they always wear themselves off, so eventually, they get lifted. The economy was re-opened, and many restaurants, retail stores, and recreational businesses were re-opened. Everyone was glad that personal care businesses re-opened; they could finally get that overdue haircut. Different provinces each re-opened their economies at their own pace. Take Ontario, for example; the region was re-opened on June second.
The province started things off by opening the outdoor dining areas. The shopping areas considered non-essential were re-opened next. Noticeably not on the list were the gyms and indoor dining spaces. Since these crucial spaces were not open during the week the survey was conducted, we expect the employment numbers to rise once they are re-opened. Other provinces that had similar restrictions running during survey week included Quebec, Nova Scotia, and B.C.
