As of 2018, the unemployment rate in Toronto was 5.7%.
Employment Insurance (EI) provides benefits to workers who lose their job due to an unforeseen circumstance that is no fault of their own. This includes coverage for illness, maternity leave, and unemployment. Individuals must apply for EI aid as soon as they stop working in order to receive benefits as soon as possible. Applications must be filed within 4 weeks of the last day or work, or the worker may no longer be eligible to receive the benefits.
The amount of benefits received is determined when you submit your application. In most cases, the rate for calculating your benefits is 55% of your weekly (insurable) wages. As of January 1, 2018, the maximum amount of yearly insurable earning is $51,700. If you make this amount or more, your maximum weekly benefit is capped at $547.
Apply for your EI benefits here.
Update 18/08/2018
Keep more of your money when transferring funds overseas!
If you want to move money abroad, from Canada or to Canada for example, Fexco provides efficient and secure global bank to bank transfers and bespoke payment solutions for both business and personal clients.
Why Fexco
Fexco provides a secure international money transfer service online or by telephone with bank beating fx rates and low fees. Specialises in high-value transfers.
Main characteristics
Fexco will help you to keep your overseas money transfer costs to a minimum.
| Margin | 0.6% |
|---|---|
| Regulator | FCA |
| Fee | £10 < £5K or Free > £5k |
| Mini | £1K |
| Ccy | All (130 currencies, incl ‘exotics’) |
| Services | Repatriation of funds, Property, Regular payments, High Value payments, spot, online, telephone. |
Get an online quote today
When you are ready to make your transfer, John and his team will be available to help you with better rates and an unrivalled service to make sure your funds are delivered securely and speedily.