The Canada Emergency Wage Subsidy has been extended and here's how to apply
The Canada Emergency Wage Subsidy (CEWS) has been extended, Prime Minister Justin Trudeau announced today.
Trudeau said that the CEWS would be extended past June in an effort to help employers retain and re-hire as many employees as possible.
As Canada's newly released unemployment figures for April show 13% jobless rate, PM Justin Trudeau announces that Canada Emergency Wage Subsidy will be extended past June. "If you had to let people go, try to bring them back," the prime minister urges employers. #cdnpoli #COVID19 pic.twitter.com/fdSsGyN6ee— CPAC (@CPAC_TV) May 8, 2020
"Earlier today we received a job report for April," he said during a press conference today. "These numbers tell us what we already knew: that right now, Canadians are hurting because of this pandemic."
The announcement came on the heels of a Statistics Canada report that outlined that the country has just experienced it's second-highest unemployment rate in history with the loss of 2 million jobs last month.
The Canadian Emergency Wage Subsidy is designed to help employers cover employee wages of up to 75 per cent, up to $847 per week.
Employers who have experienced 30 per cent or more drop in revenue can apply for the program, which was intended to be available until next month but has now been extended for the foreseeable future.
In addition to CEWS, Trudeau cited the Canada Emergency Business Account (CEBA) set up to help businesses to cover other costs through loans issued by the government. He said that over half a million businesses in Canada have accessed the program.
To apply for CEWS, employers must first see if they're eligible. Then they must see which employees are eligible and gather documents pertaining to those employees.
"There's a plan to get you through this and back on the job," said Trudeau. "And that's exactly what this government is focused on."
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