Statistics Canada said almost all of the employment increases in B.C. were in the services-producing sector, led by accommodation and food services, educational services, and wholesale and retail trade.
Beginning in mid-March, thousands of businesses were ordered closed over fears of the virus and physical distancing measures were put in place. As the curve flattened, B.C. announced a first phase of reopening on May 6, with a plan to lift restrictions on non-essential medical services and parts of the retail trade industry starting May 19.since February, before the COVID-19 pandemic hit the province resulting in an economic shutdown. B.C.
Overall, Statistics Canada said Canada’s labour market unexpectedly strengthened after two-straight months of record losses, adding 289,600 jobs. However,Economists were anticipating a loss of 500,000 jobs, according to a Bloomberg report, with the unemployment rate rising to 15 per cent. The better-than-expected report suggests the governments programs to cushion the blow to the labor market are working. By mid-May, 179,000 businesses had applied for the governments 75 per cent wage subsidy program.
The pace of applications to Canada’s emergency income benefit program has also decelerated in recent weeks, suggesting the worst of the layoffs and job losses is over.
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