Bank of Canada: Optimistic on Canada's Economic Recovery After Vaccination Plans

As Canadians have begun to complete their Covid-19 vaccinations, Bank of Canada Governor Tiff Macklem has reported that businesses that have been temporarily closed are now starting to re-open.

According to Macklem, although it will take a while, the country's widespread immunity to the Coronavirus will bring back normalcy and fast economic recovery.

Because automation has become a growing trend during the pandemic, low-wage job workers, such as those in retail, have been heavily affected by the job loss caused by the depleting economy.

During this economic shift, Canada will also be undergoing structural changes. Macklem stated that because of these shifts many of the workforces will have to look for new jobs or transfer to other sectors of their current jobs.