Occupational analysis. Halifax, NS: Atlantic Provinces Economic Council.
Preliminary estimates from Atlantic Canada, based on 4-digit National Occupational Classification (NOC) codes, show that about 70% of workers must perform their jobs at their place of work (e.g., manufacturing plants, construction sites, hospitals and restaurants), or must work directly with clients (e.g., hairdressers and massage therapists). These workers are at high risk of being…Read More
COVID-19 crisis: Challenges mount for many Canadian sectors. Ottawa: EDC.
In this report, EDC provides an initial assessment of the potential impacts of COVID-19 on different sectors of Canada’s economy. Their analysis is based on the initial positions of three factors: cash flow and working capital; profit and return ratios; and borrowing and leverage ratios. They also evaluated sectors in terms of stock market losses…Read More
Economic thoughts on the potential implications of COVID-19 on the Canadian dairy and poultry sectors. Canadian Journal of Agricultural Economics (pre-pub version).
This study explores the impact of COVID-19 on the Canadian dairy and poultry supply chain. Being a food production sector, many businesses are essential and have been able — to some extent — to mitigate economic losses relative to other sectors. The study suggests that some key structures, such as financially stable producers and shared…Read More
Covid-19: Actions to support the economy and financial system. Ottawa, ON.
To help both individuals and businesses in Canada amid the disruption caused by COVID-19, the Bank of Canada has enacted several measures to reduce negative economic impacts and prevent long-term damage to Canada’s productive capacity. First, on March 27 it lowered the overnight rate target to 0.25%, which reduces payments on existing and new loans…Read More
Scenario analysis: COVID-19 pandemic and oil price shocks. Ottawa, ON: Government of Canada.
Under assumptions that social distancing and self-isolation will remain in place through August 2020 and that members of OPEC and its partner countries will not limit the supply of oil, a real GDP growth rate of –5.1% for 2020 is one possible outcome of the COVID-19 pandemic and recent oil price shocks in Canada. In…Read More
COVID-19: Those least equipped to endure economic downturn bearing the brunt of layoffs. Vancouver, BC.
According to this survey, 44% of Canadian households are working fewer hours due to the COVID-19 outbreak. Youth (aged 18–24) are the most likely to be affected: 45% report either having been laid off or working fewer hours, compared to 30% of those aged 25–34 and less than 30% of those aged 35–64. Among those…Read More
COVID-19’s threat to Canada’s vulnerable workers. Montreal, QC/Toronto, ON: Royal Bank of Canada.
Service sector workers and new graduates are two of the groups most vulnerable to the negative economic impacts of the COVID-19 crisis, according to this report from RBC. The service sector is expected to experience a massive collapse in demand. As a result, many workers in this sector are at high risk of losing their…Read More
Canadian outlook summary: Spring 2020. Ottawa, ON: Conference Board of Canada.
With the outbreak of COVID-19, the Conference Board of Canada predicts GDP to increase by only 0.3% in 2020, and then rebound to 2.5% in 2021. It expects that approximately 138,000 jobs will be created in 2020, down from 391,000 in 2019 (a 65% decrease). Nevertheless, this decline in employment is expected to have minimal…Read More
Covid-19 and the Canadian workforce. Ottawa, ON: Canadian Centre for Policy Alternatives.
As a result of COVID-19, many workers will become unemployed and will be forced to turn to Employment Insurance (EI) to make ends meet. The report notes that policy interventions and changes made to EI during the SARS outbreak in 2003 were effective in supporting those affected by the economic fallout from that health crisis.…Read More
Economic and Fiscal Snapshot 2020. Ottawa, ON: Government of Canada.
This report reflects on the policies and initiatives taken by the federal government to protect and support Canadians and Canadian businesses from the impacts of the pandemic. Canada’s COVID-19 Economic Response Plan was designed to provide rapid support that targeted those who need it the most. Offering an overview of the health and economic situation…Read More