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Home What are the major economic issues in Canada?
14 Jul 2022 By PAYCEC
Canada faces 4 major economic issues:
The recovery
The high rate of vaccination in Canada has allowed businesses to reopen over the summer, with workers preparing for a return to the office. The most important public-health decisions will continue to be made at the provincial level.
Jobs
According to survey results from the Canadian Federation of Independent Business, small businesses say the No. 1 thing holding back sales and production is a lack of skilled labor.
Public debt
Government support for individuals and businesses during the pandemic led to an unprecedented surge in public debt. With interest rates at record lows, the cost of servicing the growing debt load remains manageable.
Inflation
The Bank of Canada has stressed patience, saying it won’t raise interest rates until the labor market has healed and the country’s economic output is back to normal.
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