How will the labour market fare post-COVID-19? [Toronto Globe and Mail (Ontario, Canada)]
Canadian Imperial Bank of Commerce (CM)
Last canadian imperial bank of commerce earnings: 2/26 05:53 am
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Source: Toronto Globe and Mail
How will the labour market fare post-COVID-19? A woman walks past a closed restaurant in a quiet downtown Vancouver, on March 17, 2020. DARRYL DYCK/The Canadian Press A woman walks past a closed restaurant in a quiet downtown Vancouver, on March 17, 2020. The lead-up to Thursday’s release of Canadian March employment figures has been a gruesome guessing game for forecasters. How bad will the job carnage be? Half a million? A million? More? Two things are certain. The number (released by Statistics Canada at 8:30 a.m. ET) will be huge. It will also be largely irrelevant. What will matter much more in the economic shock from COVID-19 are not the gory yet clearly temporary job losses inflicted by very rational decisions to close workplaces to save lives, but how the labour market that emerges is altered by the experience. The “huge” part doesn’t require an economics degree, just a basic awareness of the outside world and a third-grader’s grasp of arithmetic. We know, for example, that
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