Description: During this last week approximately 500,000 Canadians filed a claim for Employment Insurance (EI). In the same week the previous year, only 27,000 filed. The corona virus has caused closures and layoffs throughout the land, prompting unemployed Canadians to see this form of assistance.

Date:  March 20, 2020

Source:  theglobeandmail.com

Link: https://www.theglobeandmail.com/business/article-ottawa-receives-500000-new-applications-for-employment-insurance-as/

Discussion points:

1) Do you know anyone who has lost a job in the last week?

2) If you were in charge of processing these EI applications, what strategies would you use to handle this incredible increase in volume?

3) Read page 416 of Wiley’s Understanding Financial Accounting . What rate do employees pay for Employment Insurance? How much must employers pay for every dollar paid by employees?