Canada recovered 112 per cent of the jobs lost at the outset of the pandemic

Ottawa: Canadian government on Friday said that it has currently a better economy than Covid-19 pandemic hit the nation as it recovered 112 per cent of the jobs lost at the outset of the pandemic.

“Our unemployment rate in February 2022 was at 5.5 per cent, which is lower than it was prior to the pandemic. Despite our unemployment rate hitting near-record lows, some businesses are still struggling to find workers. This is a problem in Canada and around the world, but a strong and prosperous economy requires a diverse, talented, and constantly growing workforce. And yet, too many Canadians still face barriers to finding meaningful and well-paid work,” officials said.

In Budget 2022, the government is putting in place important measures that will help address these issues and meet the needs of our workers, our businesses, and the Canadian economy so that it can keep growing stronger for years to come.

In Budget 2021, the federal government made an historic and transformative investment of $30 billion over five years in the Canada-wide Early Learning and Child Care.

Meanwhile, Canada’s Budget 2022 proposes to introduce a Labour Mobility Deduction, which would provide tax recognition on up to $4,000 per year in eligible travel and temporary relocation expenses to eligible tradespersons and apprentices. This measure would apply to the 2022 and subsequent taxation years.