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Federal interest-bearing debt at March 31, 2020 was $1.083 trillion, with a deficit for the 2019-20 fiscal year of 21.8 billion. Federal deficit 2020-21: expected to be $343.2 billion (keeps climbing)
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That being said, the government says the federal debt will exceed $1.4 trillion by March 2021, up from the $1.2 trillion projected in July’s financial report.
As of the latest update from Statistics Canada on the country’s unemployment rate, nearly one quarter of those who are currently out of work have been for at least six months. In total, 1.8 million Canadians were out of a job in October, and the overall unemployment rate is sitting at 8.9 per cent.