-
‘Official’ Unemployment Just the Tip of the Iceberg
This commentary was originally published in the Toronto Star. Statistics Canada has just released its monthly labour force report for April. It’s the first monthly release that captures the full extent of the COVID shutdowns; the previous report (which covered one week in mid-March) reflected only the initial stages of pandemic-related closures. By the time Statistics Canada did its April survey (during the week of April 12-18), millions of workers had stopped working. Not surprisingly, the numbers are grim. 2.4 million Canadians were counted as officially unemployed in April. That’s 13.0% of the labour force – bad by any definition. However, that statistic is only the tip of the iceberg.…
-
Help Business – But do it Right
Facing an unprecedented downturn in work, incomes, and spending, the federal government has rolled out major new support programs to help businesses survive the coronavirus pandemic. This support is essential. But government should learn from past experience, and design those support programs carefully for maximum effect and fairness. In this commentary, originally published in the Toronto Star, Jim Stanford identifies several best practices in supporting businesses and industries in an economic crisis. To Help Workers through the COVID-19 Crisis, We Must Help Our Businesses. Here’s How. In the face of unprecedented lay-offs from the COVID-19 lockdowns, the federal government is quickly shoring up Canada’s income support network. The new Canada…