If there is a shortage in the labour market, why are people losing their jobs?

If there is a shortage in the labour market, why are people losing their jobs?

Layoffs in Canada On June 15, Wealthsimple — the fintech company managing about $15 billion –- laid off 159 employees, Shopify let go of 1,000 employees on July 26 and VC startup Clearco cut [125 employees (a quarter of its staff)] (https://betakit.com/clearco-cuts-a-quarter-of-staff-amid-significant-headwinds/) on July 29. Big American companies are also making wide ripples in Canada. In August, Ford Motors laid off 3,000 employees globally, translating to 120 jobs being cut in Canada. After seeing its shares plunge 20% in August, …