Worldwide every country’s economy has been affected by COVID-19 pandemic. Similarly, Canada was also affected in a way that people lost their jobs and businesses were running under pressure.
But now with time businesses are recovering from loss and Canada’s economy has added 418,500 jobs in the latest time this July 2020. Gradually this is the third succeeding month where jobs are getting added as Canada is gaining good growth in the economy against COVID-19 pandemic.
Initially, the national unemployment rate was 12.3% which has now fallen to 10.9% with a consistent pace that shows the good future of the country.
Such improvements in the economy are the sign of Canada’s success in slowing the spread of coronavirus in an amalgamation of public support with restorative economic actions. With the discipline of individuals, communities, workers, and employers in support of physical distancing requirements and restrictions Canada has succeeded in recovering the economy and people are allowed to return to work.
The noticeable thing here was that in July most of the job gains were seen in part-time work, which expanded by 345,000 (+11.3%), in comparison with a much smaller increase of 73,000 (+0.5%) in full-time work.
In the last few months Canada has added 290,000 jobs in May, 953,000 in June, and 418,500 in July but still it leaves the country with 1.3 million fewer jobs than it has in February before lockdown.
Canada still has a way to go with amazing recovery speed.