A half-million Canadian workers filed for Employment Insurance benefits in the past four days alone, as evidence of the deep job losses related to COVID-19 quickly piled up and companies from a wide range of industries announced even more layoffs.Employment and Social Development Canada said on Friday the department received about 500,000 applications for EI over the past four days, compared with just 27,000 in the same week a year ago.“Service Canada and many government agencies have received a historic number of calls from concerned Canadians,” Prime Minister Justin Trudeau said at a news...…A half-million Canadian workers filed for Employment Insurance benefits in the past four days alone, as evidence of the deep job losses related to COVID-19 quickly piled up and companies from a wide range of industries announced even more layoffs.Employment and Social Development Canada said on Friday the department received about 500,000 applications for EI over the past four days, compared with just 27,000 in the same week a year ago.“Service Canada and many government agencies have received a historic number of calls from concerned Canadians,” Prime Minister Justin Trudeau said at a news...WW…

Includes correctionCanadian companies are laying off thousands of employees in what’s expected to be the first wave of massive job losses as global demand dries up and businesses shut down because of the novel coronavirus.Fiat Chrysler Automobiles said on Thursday it is laying off 8,900 workers in Canada because of a pause in production, while Cirque du Soleil Entertainment Group temporarily laid off most of its work force, 4,679 people.The Big Three automakers announced temporary closings of all North American plants on Wednesday. General Motors and Ford are also halting production through...…Includes correctionCanadian companies are laying off thousands of employees in what’s expected to be the first wave of massive job losses as global demand dries up and businesses shut down because of the novel coronavirus.Fiat Chrysler Automobiles said on Thursday it is laying off 8,900 workers in Canada because of a pause in production, while Cirque du Soleil Entertainment Group temporarily laid off most of its work force, 4,679 people.The Big Three automakers announced temporary closings of all North American plants on Wednesday. General Motors and Ford are also halting production through...WW…

Last fall, as Chrystia Freeland began laying the groundwork for a postpandemic recovery strategy that would heap more debt onto the federal government’s already immense pile, she felt obliged to assure Canadians that, no, she hasn’t invited a three-initialled economic bogeyman to live under our bed.“While advocating expansive fiscal policy to battle COVID-19 – and to grow our way out of the coronavirus recession – I am not among those who think Canada should have a fling with modern monetary theory,” the Deputy Prime Minister and Finance Minister said in a key policy speech in late...…Last fall, as Chrystia Freeland began laying the groundwork for a postpandemic recovery strategy that would heap more debt onto the federal government’s already immense pile, she felt obliged to assure Canadians that, no, she hasn’t invited a three-initialled economic bogeyman to live under our bed.“While advocating expansive fiscal policy to battle COVID-19 – and to grow our way out of the coronavirus recession – I am not among those who think Canada should have a fling with modern monetary theory,” the Deputy Prime Minister and Finance Minister said in a key policy speech in late...WW…