The initial $73-billion emergency wage subsidy program for businesses has been extended to help keep more employees from getting laid off and encourage employers to re-hire staff.
Just this morning statistics on Canada’s unemployment rate was released showing about two million jobs lost since April, a month after COVID-19 was declared as a global pandemic forcing almost all non-essential businesses to temporarily close as restrictions take place.
In today’s briefing, Prime Minister Justin Trudeau says that the subsidy will play a greater role as provinces prepare to slowly reopen its economies.
There have been 97,000 businesses whose applications for the wage subsidy have been approved. Although it hasn’t been clear whether all have already received payments.
All that’s known for now is that the aid program will continue past its initial deadline, June 6. The exact date and further details are expected to be announced in weeks to come.