The Conference Board of Canada is predicting that if the country can avoid a second shutdown due to the COVID-19 pandemic, the economy could grow by an incredible 6.7 percent in 2021 and by a robust 4.8 percent in 2022. Canada’s national unemployment rate should peak in the second quarter at 13.7 percent, the highest since 1976. The outlook is positive though, with an additional 1.3 million positions expected to be added before September, lowering the unemployment rate to about 10.5 percent.
As restrictions continue to ease, the economy will benefit. If you are considering relocating to Canada for a job opportunity and a better way of life, contact Canadian Visa Expert. Their team of immigration professionals is dedicated to helping people receive the necessary visa to relocate to Canada.
The Conference Board reported the quarterly estimates show Canada’s economy will decrease by 8.2 percent this year, after losing close to three million jobs in March and April due to shutdowns. With fewer restrictions and additional Canadian jobs added, the economy may have already started recovering from the pandemic-induced recession.
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