Canada Emergency Response Benefit users fell by 1.9% monthly in July, for a total of 8,245,910 unique applicants. This is still 15.87% higher than the level during April, underscoring the need for the program to remain in force in the near and medium term.
Ontario accounted for approximately 3.3 million of these beneficiaries (40% of the total), while Quebec had 1.88 million residents (23%) who are CERB users.
Alberta had the largest fraction of its population as beneficiaries – around 1 million residents, which represented 22.41% of the province’s most recent population estimates. To compare, Ontario’s beneficiaries make up 22.3% of its population.
Analysts said that the elevated number of CERB users is reflective of how the national economy remained essentially in tatters despite some early signs of recovery.
The addition of 952,900 new jobs in June, along with the 290,000 in May, might help the market return to a semblance of normality later this year, but some observers are not holding their breath.
“While [these] numbers are encouraging, there are almost 1.8 million lost jobs yet to be recovered,” said Brian DePratto, senior economist at Toronto-Dominion Bank. “It is still a long way to the finish line.”
MBN
We hope you are finding our Blog informative and enjoyable to read while keeping you up to date with the ever changing real estate market.
Please feel free to contact me via Direct/Text or e-mail at any time and my team will be pleased to assist you, family members and friends with all your real estate needs. Referrals are always welcome and rewarded!
No comments:
Post a Comment