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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.
The Canada Emergency Business Account (CEBA; French: Compte d'urgence pour les entreprises canadiennes) provides emergency interest-free loans to small businesses and nonprofit organizations during the COVID-19 pandemic. [47] The aim of this program is to ensure that these businesses have access to sufficient capital to remain solvent during ...
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 ...
Canada reported 157 cases of the virus, up from 138 on Thursday, with one death. Seven of Canada's 10 provinces have recorded infections of the respiratory illness. Trudeau announced on Thursday ...
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Canadian minister warns that Americans will experience economic pain from Trump tariffs. Canada’s energy minister came to Washington this week to warn U.S. lawmakers that President-elect Donald Trump’s threatened tariffs would inflict economic pain on Americans, with higher prices and job losses