Canada Just Saw 1 In 20 Businesses Close In A Month, Biggest Wave Since Pandemic

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Canada Just Saw 1 In 20 Businesses Close In A Month, Biggest Wave Since Pandemic Freedom-Fighter 10/05/24 (Sat) 23:25:03 No.6

https://betterdwelling.com/canada-just-saw-1-in-20-businesses-close-in-a-month-biggest-wave-since-pandemic/

>Canadian businesses are shuttering at a breakneck speed. Seasonally adjusted data shows 46,354 businesses closed in June, marking the largest wave in exactly 4 years. That’s right, the current environment is so rough that businesses are responding like 2020 pandemic lockdowns just kicked off. The closure rate (share as a total) also set a similar pandemic record. The rate climbed 0.2 points to 5.0% in June, meaning 1 in 20 businesses closed their doors for good last month. If that sounds high, that’s because it is—the highest rate since June 2020. Even more disturbing is the fact this issue is now widespread. Stat Can observed closures across industries, noting it was a broad issue. They did note that construction and retail were slightly ahead of the pack. This highlights how weak households are these days, since both industries should have seen a large boost just by sheer population growth.

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