Economy 52,834 Posted March 20, 2020 Share Posted March 20, 2020 https://www.bnnbloomberg.ca/canada-received-over-500-000-ei-applications-this-week-1.1409633 Canada got half a million Employment Insurance claims last week alone (20X the same week last year) in a sign Canada is tipping into a severe recession 500,000 represents about 2.5% of the current active labor force. Canada is especially vulnerable given the severe Oil Crash (Canada is World's 4th largest producer and 4th largest exporter) In addition to energy sector struggles that started even before the Covid-19 pandemic, Canada had the National shutdown of the Rail system over protests which also caused pressures and economic weakness before the outbreak even started Link to post Share on other sites More sharing options...
ShayCristoforo 10,607 Posted March 20, 2020 Share Posted March 20, 2020 Trudeau is gonna go completely grey. It's not looking good for us, but thankfully EI is making it easier for people to qualify. I can see this number going into the millions, considering the mass shutdowns. Get the pinot ready, because it's turtle time. Link to post Share on other sites More sharing options...
LilMonst3r 5,681 Posted March 20, 2020 Share Posted March 20, 2020 Tough times ahead... Link to post Share on other sites More sharing options...
Modern Ecstasy2 2,202 Posted March 20, 2020 Share Posted March 20, 2020 Damn. And I’m thinking about the govt employees who have to go through half a million (and counting) applicants - just from one week - how the hell they gonna go through all those?! “Delete this thread that person is not Gaga he is a hot blonde twink” Link to post Share on other sites More sharing options...
Economy 52,834 Posted March 20, 2020 Author Share Posted March 20, 2020 5 minutes ago, ShayCristoforo said: Trudeau is gonna go completely grey. It's not looking good for us, but thankfully EI is making it easier for people to qualify. I can see this number going into the millions, considering the mass shutdowns. Over 2 decades of efforts to get finances in good shape is Largely gonna go down the drain in a single fiscal year But this is why the Governments being prudent with finances whenever they can is important because u never know when u will need to spend large amounts of money Those who argue deficits don't matter clearly live in a best case scenario mindset Link to post Share on other sites More sharing options...
Economy 52,834 Posted March 20, 2020 Author Share Posted March 20, 2020 3 minutes ago, Modern Ecstasy2 said: Damn. And I’m thinking about the govt employees who have to go through half a million (and counting) applicants - just from one week - how the hell they gonna go through all those?! I was thinking this too. I'm on EI myself since a month ago I hope they don't start taking ages now to process it cuz I can't afford too many delayed payments Link to post Share on other sites More sharing options...
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