Ottawa, (Asian independent) Canadian Prime Minister Justin Trudeau announced extension of the Canada Emergency Wage Subsidy program to help businesses and services retain their employees as the April jobless rate soared to record 13 per cent.
In April, the Canadian economy lost nearly two million jobs, on top of the one million jobs lost in March, Statistics Canada reported Friday morning, Xinhua news agency reported.
Trudeau told a press conference that the wage subsidy program will be extended beyond June to help restart the Canadian economy when provinces and territories in the country have begun to gradually reopen businesses and services.
“We’ll have more details next week, but to businesses hit by COVID-19, know this: the wage subsidy will continue to be there for you, to help you keep your employees on the payroll,” Trudeau said.
It is the Trudeau government’s first aid program rolled out amid the COVID-19 pandemic to receive an extension and comes in light of record-high job losses. The program was designed to incentivize employers to keep staff on the payroll.
Since the program was launched last week, employers reportedly have applied for subsidies for almost two million workers. Trudeau urged those who have not done so yet to apply for it.
More than half a million companies have accessed business loans through the Canada Emergency Business Account. Trudeau said his government needs to do more to support millions of Canadians hard hit by the economic fallout of the pandemic.
“We’re working around the clock to update and adjust, so that help gets to as many workers, small businesses, families, and young people as possible,” Trudeau said.
