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The COVID-19 pandemic had a deep impact on the Canadian economy, leading it into a recession. The government's social distancing rules had the effect of limiting economic activity in the country. Companies started mass layoffs of workers, and Canada's unemployment rate was 13.5 percent in May 2020, the highest it has been since 1976. [1]
Canada's economic position has shifted dramatically since the 1980s, when it maintained a nearly US$4,000 advantage in per capita GDP compared to an average of "advanced" economies, including the United Kingdom, the United States, France, Germany, Italy, and Japan. By 2000, the United States had established a US$8,000 lead over Canada.
The economy of Canada is a highly developed mixed economy, [33] [34] [35] the world's ninth-largest as of 2024, and a nominal GDP of approximately US$2.117 trillion. [6] Canada is one of the world's largest trading nations, with a highly globalized economy. [36] In 2021, Canadian trade in goods and services reached $2.016 trillion. [37]
In the face of these long-term regional disparities, the Government of Canada redistributes some of its revenues through unconditional equalization payments and finances the delivery of comparable levels of government services through the Canada Health Transfer and the Canada Social Transfer.
Canadian current events contains a listing on an ongoing automated basis of importance events, trends and newsworthy developments related to Canada. Below are listed 200 entries of the past 90 days of Canadian current events featured in the main page of the Canada portal.
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From 2003 to 2018, Canada saw an increase in home and property prices of up to 337% in some cities. [2] In 2016, the OECD warned that Canada's financial stability was at risk due to elevated housing prices, investment and household debt. [3] By 2018, home-owning costs were above 1990 levels when Canada saw its last housing bubble burst. [4]
Sales taxes in Canada; Seal hunting in Canada; Security and Prosperity Partnership of North America; Snow washing; Social Union Framework Agreement; Social programs in Canada; Socio-economic mobility in Canada; Student Connections; 3rd Summit of the Americas; System for Electronic Document Analysis and Retrieval