Most Affected Sectors
Many sectors were affected by the Corona Virus Pandemic, but accommodation and food services were the most affected. One hundred sixteen thousand five hundred employees lost their jobs in May alone. Since February, 770,400 have lost jobs in the same sector. Compared to other sectors, the levels of job loss makes it the most affected sector.
According to Statistics Canada, the decline in quarrying, mining, gas, and oil extractions and manufacturing triggered the increase seen in construction. Since February, there was a decline in employment payroll in these sectors. Compared to May 2019, weekly earnings were low in the industry. The manufacturing industry wasn’t left behind since the number of payroll employees declined, with about 250,000 people losing jobs.
The arts, entertainment, and recreation sector is a sector affected as it continues to count job losses. There was a decline from February to May, which was brought about by losses in amusement, gambling and recreation industries. Average weekly earnings declined because most workers received a pay cut.
In early July, a statement released by The Labour Force Survey shows that Canada’s employment rate was likely to go up. Employment levels dropped due to Corona Virus lock down, but since there was an increase in restrictions between May and June, a steady increase in employment was seen. Recovery may take up to 5 years, but slow progress is better than none.
Final Thoughts
Since Corona Virus began, a lot of people have lost their jobs, which has, in turn, affected the country’s economy. People are forced to live from hand to mouth because most companies have closed. As of May, the levels have gone up, which is also reflecting on the economy.
