Although two months of solid job gains are encouraging, it’s still likely to be a long, bumpy journey to the end of the pandemic tunnel for Canadian business-owners and their employees as the third wave of COVID-19 breaks across the country, threatening to disrupt the positive trends we’ve seen in today’s numbers.
(OTTAWA) – February 5, 2021 – The Canadian Chamber of Commerce’s Senior Director of Workforce Strategies and Inclusive Growth, Leah Nord, issued the following statement regarding today’s Labour Force Survey numbers.
“The 213,000 decline in today’s job numbers gives us a fuller picture of the impact of lockdowns in Ontario and Quebec, and their correlation to a precipitous drop in economic activity. The numbers are unsurprisingly and unfortunately bleak.
Looking forward, Canada must find new answers to managing COVID-19, such as implementing rapid testing and contact tracing as an additional layer of protection against the virus.
We simply cannot afford to be in a holding pattern until vaccines arrive. We need new strategies to manage the pandemic. The economic costs may very well damage Canada’s economy and structurally alter our labour market in ways that may not easily be repaired.
The enduring impacts of a K-shaped crisis, with the increasingly long-term unemployed and workforce drop-outs, will cast a long shadow upon the recovery, as re-entry into what will assuredly be a very different labour market presents significant obstacles. The choices we make today set the stage for our success tomorrow.”
About the Canadian Chamber of Commerce – Because Business Matters
The Canadian Chamber of Commerce helps build the businesses that support our families, our communities and our country. We do this by influencing government policy, by providing essential business services and by connecting businesses to information they can use, to opportunities for growth and to a network of local chambers, businesses, decision-makers and peers from across the country, in every sector of the economy and at all levels of government, as well as internationally. We are unapologetic in our support for business and the vital role it plays in building and sustaining our great nation.
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