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    Al Salam Bank Q1 net profit rises a strong 7% to USD17.3 million

    Al Salam Bank Q1 net profit rises a strong 7% to USD17.3 million

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    Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

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    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

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    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

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    Al Salam Bank Q1 net profit rises a strong 7% to USD17.3 million

    Al Salam Bank Q1 net profit rises a strong 7% to USD17.3 million

    Saudi banks big on new digital future; fintech transactions to outdo the USD 33 billion thresholds by 2023

    Saudi banks big on new digital future; fintech transactions to outdo the USD 33 billion thresholds by 2023

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    OPay obtains approval of Egypt’s CBE to issue prepaid cards

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    Reserve Bank of Australia left its cash rate at the most significant low of 0.1% on Tuesday

    Cross River Bank gets USD3 Billion+ valuation and a crypto-first strategy

    Cross River Bank gets USD3 Billion+ valuation and a crypto-first strategy

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    Digital voice-based banking to become the new reality in 2022?

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    Led by Apax Digital, ClearBank raises £175m to accelerate global expansion

    Al Salam acquires Ithmaar Bank for USD2.2 Billion to power Consumer Banking division

    Al Salam acquires Ithmaar Bank for USD2.2 Billion to power Consumer Banking division

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    An Ode to the 5 Arab Women Reigning the Business World

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    Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

    Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    New AI startup by Co-founders of DeepMind and LinkedIn raises USD 225 million

    New AI startup by Co-founders of DeepMind and LinkedIn raises USD 225 million

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    In new move in 2022, IMF raises weighting of dollar, yuan in Special Drawing Rights basket

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    Vodafone shares up after USD 4.4 billion UAE stake buy

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    Ather Energy raises USD128 million in series-E funding

    Malaysia may cut palm oil export tax by 50 percent amid global supply crisis

    Malaysia may cut palm oil export tax by 50 percent amid global supply crisis

    UK’s Morrisons to buy McColl’s ahead of Asda owners

    UK’s Morrisons wins race to buy McColl’s ahead of Asda owners

    Volkswagen AG augments electric vehicle investment in Spain to EUR 10 billion

    Volkswagen AG augments electric vehicle investment in Spain to EUR 10 billion

  • Markets
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    • Brokerage
    • Energy
    • Forex
    • Ultility
    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    Panama to develop largest advanced biorefinery to make lower-carbon aviation fuel by 2026

    Panama to develop largest advanced biorefinery to make lower-carbon aviation fuel by 2026

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    Brazil mills cancel new sugar export contracts, shift output to ethanol

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    World’s No.2 producer of wheat, India, bans wheat exports in new move

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    Australian stocks fall lower amidst worldwide sell-off; ASX 200 witnesses AUD 50 billion incineration

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    Germany changes stance: Could back new and immediate EU ban on Russian oil

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    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

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    Meta for MENA; SMEs receive boost in 2022

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Canada invests $5 million in Employment Insurance consultations

Canada plans to support economic recovery with a responsive Employment Insurance program

The Global Economics by The Global Economics
July 22, 2021
in Central, Healthcare, Insurance, Top Stories
Reading Time: 2 mins read
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Canada invests $5 million in Employment Insurance consultations

Canada invests $5 million in Employment Insurance consultations

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Since the viral epidemic, Canada has extended utmost support to the public to ensure health and safety on a large scale, demonstrating its commitment to its residents. Most of the workers have seen tormenting times in the pandemic in many countries. Yet, the Canadian government has offered benefits for the workers like the Canada Emergency Response Benefit and the Canada Recovery Benefits that help the workers stay safe in these unprecedented times.

The administration ensured quick measures that give flexibility to the workers through temporary benefits from last September. The introduction of such an Employment Insurance (EI) program was accessible for many workers. Since last fall, the government has helped over 3.79 million workers to access the EI program. The program has successfully provided more than $37 billion to support Canadian workers and their families.

The government measures have been advancing with robust implementation of initiatives like additional support with access to the EI sickness benefits for more than 297,000 workers. The program helped the workers to get the basic needs fulfilled during the crisis by helping them with proper meals for the day as they stayed at home. The Canadian administration considers the EI program to be most crucial as it cushions stressful situations like temporary disruptions in employment and helps during economic downturns.

Moreover, the pandemic has compelled the government to modify the EI program to ensure that it meets the needs of the present-day labor market.

The Minister of Employment, Workforce Development, and Disability Inclusion, Carla Qualtrough, unveiled reforms to the EI program in August by launching a consultation with all the stakeholders, employers, and employees. The Government of Canada planned an investment of $5 million for two years 2021–22 in the Budget 2021.

The government aims to understand the needs of the workers, and it would benefit the employers and the employees. The reforms would include improvements in accessibility, affordability, and adequacy. The new measures will throw light on the need to fill the gap due to the pandemic by offering support for self-employed, freelancers, gig workers with uninterrupted and reliable benefits.

According to the International Labor Organization (ILO), there are insufficient job opportunities and a slower economic recovery until 2023. Therefore the consultation will help the government develop a responsive EI program towards the evolving needs with sustainability.

Tags: Canada employmentcanadiangovernmentdisability inclusionemploymentinsuranceInternational Labor Organizationlabor rightssicknessbenefitsstakeholdersviralepidemicworkforce development
The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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The Global Economics

The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

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