Global Macro Service > Research Briefings > Canada

Initial job bounce will turn into a laborious full recovery

Lockdowns to contain the spread of Covid-19 in Canada caused a record 3 million job losses, a 16% collapse from February to April. While the initial reopening of the economy in May and June has allowed for a 1.2 million rebound in employment, we think a full recovery will take around two years, and much longer for high-contact sectors such as hospitality and tourism.

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