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Between mid-2022 and early 2024, Canada's unemployment rate increased by 1.6%, a rise historically associated with recessionary periods in Canada since the 1970s. This increase, though smaller relative to its prior major recessions, was considered significant given its emergence from post-pandemic record lows.
The COVID-19 pandemic had forced the Justin Trudeau government to introduce a large number of federal aid programs to deal with the economic impact of the crisis. As a result, Canada's debt-to-GDP ratio increased in 2020 and 2021. [4] In March 2022, the New Democratic Party agreed to a confidence and supply deal with Justin Trudeau's Liberal ...
Quebec residents pay 16.5% less federal income tax annually than other Canadian provinces due to the Quebec Abatement. [42] This lower direct income tax for Quebec residents is factored in when the federal government transfers (Canada Health Transfer, Canada Social Transfer and Equalization) funds back to the Quebec government. [42]
ABC News Senior Congressional Correspondent Rachel Scott talked with one federal contractor as a shutdown loomed last year, who said the 35-day government shutdown in 2018 took her months to ...
UPDATE ― 6:36 p.m. EDT Thursday: The Canadian government announced Thursday afternoon it was ending the work stoppage by ordering the railroads and the union into binding arbitration. Previously:
In the wake of November's stop-gap bill to fund the federal government through early 2024, MoneyGeek looks at the ways in which a government shutdown would impact the lives of federal employees.
The government's social distancing rules had the effect of limiting economic activity in the country. Companies started mass layoffs of workers, and Canada's unemployment rate was 13.5 percent in May 2020, the highest it has been since 1976. [1] Many large-scale events that planned to take place in 2020 in Canada were cancelled or delayed.
The fate of hundreds of thousands of federal employees and the work they do rests on Congress' ability to extend government funding beyond Friday. What federal workers would lose pay during a ...