As COVID-19 begins to gain traction across the country, particularly in Quebec, what about the state of the job market?
The coronavirus is creating immeasurable damage to job markets around the world. According to the International Labor Organization, COVID-19 has so far cut an estimated 500 million jobs globally, pinning lost labor income at more than US $ 3.5 trillion.
Despite everything, there would be hope in the country: the most recent data from Statistics Canada indicate that Quebec created 77,000 jobs in September, putting the unemployment rate at 7.4%. Canada, for its part, generated 378,000 jobs, pushing the country’s unemployment rate down to 9%.
Companies that reinvent themselves
The crisis is difficult for Canadian companies, of course, but an economic study by the Business Development Bank of Canada shows that a majority of them are getting through the situation. Many even take the opportunity to modernize!
This is particularly the case of Walmart Canada which, after investing $ 3.5 billion in technologies to speed up the flow of its products, plans to hire 10,000 people in the country. The new employees will be primarily assigned to e-commerce, warehouses and delivery.
Des entreprises prises à la gorge
Cela dit, certains secteurs d’activité, comme la restauration, la vente au détail, le tourisme et le divertissement, éprouvent toujours de graves difficultés. Des exemples ? La société de restauration canadienne MTY, qui détient 80 enseignes dont Thai Express et Valentine, a vu ses revenus diminuer de 16 % en un an. Sans compter que plus de 300 de ses établissements sont toujours fermés.
Tout dernièrement, la chaîne Bizou a de son côté dû recourir à la Loi sur la faillite et l’insolvabilité, comme tant d’autres bannières d’ici, telles que Tristan, Aldo et Reitmans, l’ont fait avant elle.
Ce n’est pas tout : ailleurs dans le monde, le géant Disney a supprimé 28 000 emplois dans ses parcs d’attractions aux États-Unis. Les temps sont durs pour la magie !