Friday, August 1, 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

Why Gold’s Bull Run May Just Be Getting Started! | Peter Grandich

Tariffs Spark New Race for Critical Metals | Rob McEwen

Antimony Resources: The Bald Hill Project

Recommended

Tsunami Warnings Spread As Largest Quake Since 2011 Hits Russia

Northern Superior Intersects 1.75 g/t Gold Over 65.0 Metres At Philibert

Related News

Canada Poised to Mandate Zero-Emission Cars by 2035 in New Electric Vehicle Standard

Canada is set to announce new regulations requiring all new cars to be zero-emission vehicles...

Monday, December 18, 2023, 04:33:00 PM

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 8.5% in November as Labour Market Remains Resilient Amid New Lockdowns

Canada’s labour market remained resilient even though the month of November saw the reintroduction of...

Friday, December 4, 2020, 02:26:53 PM

NATO Defense Spending Soars as Russian Threat Looms, but Some Allies Lag Behind

NATO Secretary-General Jens Stoltenberg announced on Monday that a record 23 out of NATO’s 32...

Saturday, June 22, 2024, 09:13:00 AM

Canadian Retail Sales Plummeted in April Amid Third Wave of Covid-19 Restrictions

Retail sales across Canada were sent plunging downwards at the beginning of the second quarter,...

Wednesday, June 23, 2021, 04:51:00 PM