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The COVID-19 pandemic had a deep impact on the Canadian economy, leading it into a recession. 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]
Canada's economic position has shifted dramatically since the 1980s, when it maintained a nearly US$4,000 advantage in per capita GDP compared to an average of "advanced" economies, including the United Kingdom, the United States, France, Germany, Italy, and Japan.
As the economic impact of the coronavirus began to be felt, numerous financial news sources warned of the potential cascade of impacts upon the outstanding $10 trillion in corporate debt. [ 64 ] [ 65 ] Between mid-February and early March, investors increased the premium, or additional yield, to hold junk bonds by four times the premium ...
Canada spends around 1.70% of GDP on advance research and development across various sectors of the economy. [55] [56] Canada's economic integration with the United States has increased significantly since World War II. [57] The Automotive Products Trade Agreement of 1965 opened Canada's borders to trade in the automobile manufacturing industry ...
In a news conference on Wednesday, the 48-year-old Canadian leader said his country has controlled coronavirus “better than many of our allies, particularly including our neighbor,” Reuters ...
The COVID-19 pandemic in Canada is part of the ongoing worldwide pandemic of coronavirus disease 2019 . It is caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). Most cases over the course of the pandemic have been in Ontario, Quebec, British Columbia and Alberta. Confirmed cases have been reported in all of Canada's ...
The latest COVID-19 news from around Canada on Nov. 02, 2020. COVID-19 in Canada: Brampton's coronavirus positivity rate more than double national average; B.C. cases soar over the weekend [Video ...
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