Some of the disruptions were expected—we’ve never closed and reopened the economy before, so it was bound to be bumpy. But others, including labour-market frictions and supply disruptions, are more pronounced than anticipated. Let me talk about each of these in turn. We’ve seen strong job growth in recent months.
Many sectors that were hardest hit by lockdowns earlier in the pandemic rebounded strongly as Canadians resumed more normal activities. Strong job growth has reduced the very uneven impacts of the pandemic, particularly for youth and women.