In March 2022, the number of job vacancies in Canada surpassed 1 million for the first time on record. This triggered widespread concern about labour shortages and Canada is not alone. As unemployment hits record lows, reports of shortages have become commonplace across OECD countries.
Entrepreneurs have been hit hard by the crisis. Surveys show that since the start of the pandemic, globally, 70-80% of SMEs experienced a serious drop in revenues/sales, and over 40% stopped operations altogether in the first wave of the crisis.