CANADA’S POST-PANDEMIC RECOVERY

The pandemic has hit economies across the globe in a major way, with Canada no exception. 


In 2020, the World Health Organization declared the covid outbreak to be a global health emergency.


It impacted Canada's economy in a major way and brought on a recession. 


Many large-scale events were canceled, the travel and the tourism sector saw a major dip while several citizens lost their jobs.


However, recent months have seen a sharp rise as Canada's economy grew 6.7% within the last three months (of 2021) beating the estimated growth of 6.5%.


Canada has land that is rich in natural gas and resources and expects to get a steady stream of revenue from it and, if the right policies are implemented, over 120,000 new jobs could be created. 


Even the prices of basic commodities have increased significantly, It doesn't seem to deter the spending habits of the people. With the number of cases in decline, people now spend a lot on travel on top of regular spending.  


During peak-pandemic, there was a shortage of inventory in the automobile industry due to a shortage of semiconductor chips. 


Now that cars are back in stock, the pent-up demand for vehicles has caused a rise in car sales across the country.


Across the globe, widespread cabin fever has led to people going out on holiday as soon as they get the chance to and in turn, fuel Canada's tourism industry with great returns this quarter.


Canada has also welcomed over 400,000 new inhabitants and set a record for most permanent residence landings in its history. 


This country is one of the most immigrant-friendly countries in the world and relies on immigration to support its aging population and economy. 


Last year, it doubled down on immigration to support its post-pandemic recovery and is expected to aid economic growth in a major way.


Today, jobseekers in Canada are in luck as Job vacancies are now at an all-time high. 


Employers have been struggling to assemble a skilled workforce across several sectors. 


“Across all 20 sectors, Canadian employers were seeking to fill 915,500 job vacancies in the fourth quarter of 2021, 80 percent more than in 2019 and 63.4 percent more than in 2020,” reports Statistics Canada.


The largest demand for human resources came from the hospitality sector as tourism in Canada makes a comeback post-pandemic. 

The government has also tried to pitch in from their side as work permits can now be issued within two weeks through the Global Talent Stream.


 

Location: Canada

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