2021 market trends
the outlook for 2021
There’s no dancing around the main factor driving change in the Canadian job market in 2021: the COVID-19 pandemic has irrevocably altered the economic landscape worldwide. Canada is no exception. At the height of the crisis, over 3 million Canadians were out of work. Our federal government was quick to act, pushing through critical aid for workers, such as the Canada Emergency Response Benefit (CERB). In the later half of 2020, Canada’s economy steadily recovered as businesses were allowed to reopen. Jobs trickled back into the market, though there remains a deficit of jobs compared to last year’s near-record levels of employment. Though the final months of 2020 brought a second wave of COVID-19, the economic fallout was significantly less severe, as governments better understood how to handle the crisis. As we head into 2021, expect recovery to continue. The shift to remote work and increased digitization is driving positive trends in many sectors.
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