Coronavirus Pandemic Coronavirus Canada covid-19 housing market Coronavirus Pandemic Coronavirus Canada

Canada’s ‘K-shaped’ recovery spans jobs, debt and housing

globalnews.ca

economy during the novel coronavirus pandemic.While feelings of loneliness and isolation are common amid shutdowns and social distancing, there’s a growing divide between those who have emerged from the economic slump in fine — or even better — shape and those who have landed in a financial dark pit.When it comes to jobs, debt and housing, Canada’s economic trajectory has split into two, data shows.

It’s what economists refer to as a “K-shaped” recovery.On the upper-arm of the K are higher earners, homeowners and older Canadians, as well as companies that can do business remotely or have capitalized on new pandemic-linked trends.On the lower-arm of the K are hourly workers, who are more likely to hold jobs that require face-to-face.

The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News