The fastest recovery of the Canadian economy

The Statistics Canada collected data and provided a report on payroll employment, hour worked and earnings in Canada, after the outbreak of a pandemic. The Statistics Canada survey provides a survey of employment, payroll, and hours and then checks the impact done by Covid-19 on Canadian employment and labor force. 

Previously after the outbreak of Coronavirus in Canada, average weekly earnings increased in the month of May, according to The Statistics of Canada. Now newly released data shows that how ease in earning hours and coronavirus related restrictions has effected employment in Canada. Here it goes, the total number of employees on payroll declined by 1.8%, while the average weekly earnings rose 2% to $1,139 in May after this increase in weekly earnings. In fact, it is concluded that lockdown after the outbreak of this pandemic caused a significant decline as well as recovery now after easing in lockdown.  

Like if we say Quebec allowed residential construction to restart in mid-April and construction increased payroll employment by 3.5 percent up to 28,400 in May but all gains in construction were seen in Quebec although at national level employment in construction was still down.

According to this recent survey loss of employment month over months is slow now. A significant change in number for losing jobs as in April in 279, 000 jobs were lost in the retail sector while in May 41,800 jobs were lost but retail trade rose by 2.6% in May as compared to April. 

There was a loss of 16.9% for accommodation and food services, it was a hard hit and decline of payroll employment at large. A serious decline was noticed in oil and gas extraction, mining and quarrying, as well as the sector of arts, entertainment, and recreation, was affected badly. 

Now the data shows that initial recovery in Canadian employment is sharper in early July and recovery is significant than any previous recovery even if we compare any previous recession. Previous economic recovery almost took two to five years but now the recovery of employment to 9.2% of February levels. 

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