In this month’s timely tips, we share very important financial news to address some of the critical issues that have arisen during COVID. The mandatory shutdown caused business owners and staff members to lose a significant amount of income. Unfortunately, this great loss in the job market caused the inequality gap to increase between minorities and non-racialized groups. However, the inequality impact is more significant than just racialized groups. The gender pay gap has also dramatically increased and reversed the progress of establishing equality in the workforce. This might be due to working moms reducing their work hours to accommodate for the greater responsibilities at home. With all these implications, mental health has become a significant challenge for many.

We hope you enjoyed our August Timely Tips. If you want to learn more about the latest financial news, check our News Blog here. To watch our short August updates video, click here.