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Economic Viewpoint

Canada’s Economic Recovery Is Well Underway but There Are Still Many Obstacles

August 25, 2021
Benoit P. Durocher
Director and Principal Economist

Even though some more time will have to go by before Statistics Canada confirms it, Canadian production has completely recovered the ground it lost during the pandemic. However, the recovery is very uneven across industries, with some industries still lagging significantly. The same is true of the labour market, although full recovery may take a little longer. Clearly, the pandemic will leave traces that will take several years to resolve while many structural changes are underway.