Canada’s emergency wage subsidy program to be extended beyond June 6
The program covers 75 per cent of worker pay up to $847 a week.
The federal government’s 12-week Canada Emergency Wage Subsidy (CEWS) program will be extended beyond its originally scheduled endpoint of June 6.
The CEWS program covers 75 per cent of employees’ pay, up to $847, to help employers – who are facing steep declines in revenue due to COVID-19 lockdown measures – keep their workers on the payroll for the duration of the COVID-19 crisis.
More details on the extension of the wage subsidy will come this week, Prime Minister Trudeau said during a press conference on May 8.
The announcement comes as new Statistics Canada data shows the Canadian economy lost almost two million jobs in April, a record high, as the closure of non-essential services to slow the spread of COVID-19 forced businesses to shutter temporarily.