Despite the staggering job loss numbers announced today, Prime Minister Justin Trudeau says there’s a plan in place to see Canadians through.
The country shed nearly two million jobs in April and on top of an employment drop of over one million in March, this brought the total job losses since the start of the shutdown to over three million. The unemployment rate for April was at 13 percent.
Today the PM talked up the CERB and Canada Wage Subsidy as a cure for some of the economy’s problems.
“If you are out of work, you don’t need to hear that other people are out of work too,” he said. “You need to know that there’s a plan to get you through this and get you back on the job. And that’s exactly what this government is focused on.”
The Feds will now be extending the wage subsidy beyond June to kickstart the economy and save more jobs.
The subsidy program covers 75 per cent of worker pay up to $847 a week to try to help employers keep employees on the job in the face of steep declines in revenue due to the COVID-19 pandemic.
The Canada Emergency Business Account is also being accessed by over half a million businesses to date so far.
Trudeau says an economic strategy table is also in the works, which will study the effects of the pandemic in specific sectors with an eye to further supporting workers.
Keeping you safe and getting you the support you need during the COVID-19 pandemic is our top priority. Today, I’m giving an update on the steps we’re taking to do just that. Tune in now: https://t.co/FuX75cJI1W
— Justin Trudeau (@JustinTrudeau) May 8, 2020
To watch Trudeau’s full May 8th address, see below.
https://www.cpac.ca/en/direct/cpac2/453670/pm-justin-trudeau-provides-update-on-federal-response-to-covid-19-28/