-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI US MARKETS ANALYSIS - Tsys Firmer Ahead of Early Close
MNI China Daily Summary: Friday, November 29
MNI US OPEN - Le Pen Sets Deadline for Further Concessions
MNI INTERVIEW: Canada To Retrain Workers As Covid Ends Jobs
--Labour Minister Says Pandemic Also Shone Light On Precarious Work
--Tassi: Safe Restart Is Focus, Working At Home Boosts Productivity For Some
By Greg Quinn
OTTAWA (MNI) - Canada will retrain workers whose sources of employment
disappear after Covid-19 and will try to ensure government programs create
better-paid jobs than those which left millions needing relief checks within a
few weeks of the health lockdown, the country's labour minister told MNI in an
interview.
"With respect to the workers who don't have jobs to go back to, we are
looking at training programs, retraining," Filomena Tassi said, when asked about
how the labor market might be affected by social distancing. "Those are things
that we will continue to look at and develop."
While it is too soon to know how many jobs could be permanently lost or
scaled back, keeping workers safe is the top priority as the economy re-opens,
Tassi said, pointing also to how the pandemic had exposed the economic
vulnerabilities of a large chunk of the workforce.
"The precarious nature of work, the light has been shone on that as a
result of Covid," Tassi said. "We want to make sure that the programs we are
investing in are going to create jobs that allow people to earn a living that
they can support themselves [...] save, and have conditions that are fair, build
up security."
Some 8.2 million Canadians drew relief checks through June in a nation of
38 million people, helping push the budget deficit to a post-World-War-II-high
16% of GDP, after low-paid jobs left many workers with scant savings to pay
rent, utilities or buy food even through a short layoff. Unemployment hit a
modern-day record 13.7% in May and even after major re-openings the following
month there were 1.8 million, or 9.2%, fewer jobs than before the pandemic.
--HOME WORK
With Covid-19 accelerating pre-existing digital economy trends including a
shift to home-work, Tassi suggested that the emerging labor landscape might
offer more flexibility to some employees, and that stricter workplace regulation
may not be the answer. But companies will need to provide home workers with the
same kind of equipment and support as those going to the office, she said.
Statistics Canada reported four in 10 workers could do work at home
regularly and Tassi cited an opinion poll saying 79% of respondents were
satisfied with the switch from office life.
"Some people are going to be more productive at home," she said. "You
aren't taking a lunch break, because you're not surrounded by people in your
office that are all leaving for an hour lunch. You've taken the commute out,
perhaps the wardrobe."
"These are things we have to look at before we take measures going
forward," she said.
Tassi is applying a similar logic to a mandate from Prime Minister Justin
Trudeau on "the right to disconnect" by say shutting off email after regular
hours. An advisory council recommended letting employees and firms come to their
own terms over a legislated right.
"What we have to do here is understand that people are different, that they
are going to respond to this differently, but we need at the end of the day to
ensure that that work-life balance is attained," she said.
--BURDEN ON WOMEN
Canada is negotiating restart guidelines with provinces as it rolls out
CAD14 billion in special funding, and seeks to shift relief payouts to wage
subsidies that encourage people to return to work when safe.
The government will continue to protect the jobs of working parents who
need to stay at home because schools and daycares are closed, she said. It will
also focus on ways of easing the disproportionate job losses that have fallen on
women in the shutdown, said Tassi, a former school board trustee from Hamilton
just west of Toronto.
"We are far better off as a country when we provide opportunities to all
Canadians, provide a level playing field that those that want to work have the
opportunity to work," she said.
--MNI Ottawa Bureau; +1 613-314-9647; email: greg.quinn@marketnews.com
[TOPICS: M$C$$$,MC$$$$,MX$$$$]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.