The prime minister says that this extension will provide "greater
certainty and support" to corporations as Canada is planning to resume
its economic activities.

The announcement would serve to promote the recovery of jobs that
were lost after the imposition of coronavirus lockdown measures. This
should also allow both Canadians and immigrants, who are out of work
to land on their feet swiftly.

In addition to the extension, there have been talks with the provinces
and territories on the "safe restart program."
The Canada Emergency Wage Subsidy (CEWS), introduced in March,
was intended to alleviate the expected financial responsibilities on
businesses during the pandemic.

The program was also launched to incentivize the firms, which got
affected by COVID-19, rehire the laid-off workers, and evade future
terminations. The government expected to achieve this by providing a
75% wage subsidy for up to $847 per week to the eligible businesses.
Usually, businesses and non-profit organizations were eligible to claim
the subsidy if they observed a revenue reduction of 30%. For March, this
was just 15%.

While welcoming the extension of the CEWS, the business community is,
however, critical of the eligibility requirements, and hope that even more
businesses will be able to access the extension.
Consequently, the government has said that the eligibility requirements
may be improved this week.
This is the second time the CEWS has been extended after the addition
of 12 to the program on May 15.

Until July 6, the federal government paid over $18 billion to the
employers through the means of federal wage subsidy. 581,800 out of
587,060 (or 99.1%) applications were approved.

Last week, the government increased the CEWS budget to $82.3 billion,
which was considerably higher than the original budget of a mere $45
billion.

As the economy begins to revive, many people who had been receiving
the Canada Emergency Response Benefit (CERB) are now willing to get
back to work. Additionally, many people are more positive about the
possibility of finding a new job.

There was an improvement of 1.24 million jobs in May and June's
months as unemployment rates across the country declined
considerably.

The statistics and the extension of the wage subsidy are great news for
the enthusiastic immigrants as they would anticipate a more robust job
market once they become permanent residents.

Canadas latest Express Entry draw itself is good news, as it was the first
all-program draw since the commencement of the pandemic restrictions.
This means that applicants of the Federal Skilled Worker Program
(FSWP) were also considered.

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