Friday, September 12, 2025

Latest

Canada’s Economy Projected to Rebound in 2021, According to Private Sector Forecast

According to a recent private sector forecast, Canada’s economy is beginning to enter the recovery phase, with positive growth projected as soon as 2021.

A report released by the Conference Board of Canada suggests the Canadian economy may have already suffered through the worst of the coronavirus pandemic, with a projected contraction of 8.2% for the remainder of 2020. However, as long as a severe second wave of the virus can be averted, economic growth of 6.7% is viable in the following year, followed by a 4.8% increase in 2022.

Given the current economic projections, a “V” shaped economic recovery is most likely off the table, and instead a prolonged “U” shaped recovery paired with bumps and setbacks is becoming more evident. The Conference Board is anticipating an unemployment rate as high as 13.7% by the end of the second quarter, but an increase of approximately 300,000 jobs in the month of May coupled with the lifting of several restrictions in June should show signs that the worst has passed for Canada’s labour market.

If in fact a second wave of the deadly virus does ensue, then Canadian businesses will most likely be more prepared, and will already have safety measures in place such as plastic barriers, deep sanitization methods, and social distancing practices. As such, the Conference Board is predicting a further 1.3 million jobs becoming available in the third quarter, which would in turn decrease the unemployment rate to 10.5%.

Information for this briefing was found via Bloomberg, Global News, Statistics Canada, and the Conference Board of Canada. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Avino Q2 Earnings: Steady As She Goes

MEG Energy: Cenovus Comes In With $7.9 BILLION Offer

Orla Mining Q2 Earnings: Musselwhite Changes Everything

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Foreign Investors Purchased a Record Amount of Canadian Debt in April

It appears that despite the negative economic consequences resulting from the pandemic crisis, Canada’s debt...

Wednesday, June 17, 2020, 07:09:00 PM

Canada’s Unemployment Rate Falls To 8.2% In February

Coinciding with the ongoing vaccine rollout and easing of restrictions, Canada’s labour market added 259,000...

Friday, March 12, 2021, 02:49:00 PM

Canada to Cut 3,300 Immigration Jobs Over Three Years

Immigration, Refugees and Citizenship Canada (IRCC) plans to eliminate about 3,300 positions by 2027, targeting...

Wednesday, January 22, 2025, 07:46:09 AM

PepsiCo Skips Tax Holiday as Small Businesses Scramble

Canada’s two-month GST/HST holiday began Saturday amid growing concerns about implementation challenges, as even major...

Monday, December 16, 2024, 12:11:00 PM

US Consumer Sentiment Rises Amid Optimistic Economic Reopening

US consumer sentiment jumped by more than expected at the beginning of June, as an...

Sunday, June 13, 2021, 11:11:00 AM