Question

its question 4 subject is introduction to canadian goverment

4. What is the impact of COVID 19 on overall Canadian economy and society? What are the long term impacts (5 points)

Answer 1

a business council based in Toronto, CD Howe institute, talked about the manner in which there has been a drastic fall in the GDP of the country, this is almost a 2.6% fall. There have been some projections by think tanks that the economy of the country is facing situations that are recession like. Looking at the data of the first quarter, these observations are coming forward.

There has also been a reduction in the employment rate, by almost 5.3%. On the data based till April 30, this decision of the council to declare recession like conditions have come up. Such conditions post difficult situations in the society. With decrease in employment rates, there has been an overall distress in the society.

migrants are facing the wrath, as most unemployment has occurred in the non organised work sector. Also, there has been problems with shelter, for people who are not able to pay their rents on time.