Friday, November 28th-6.1°C
23286
24225

In terms of the employment rate, Canada far from first in G7 during the recovery

OTTAWA - A new OECD report suggests Canada's labour market has yet to fully recovery from the recession and is not the strongest in the G7, as often claimed by the Harper government.

The numbers from Paris-based Organization for Economic Co-operation and Development suggests Canada places fifth in terms of job creation.

The OECD data measures what economists call the employment rate, which is the percentage of the working age population that actually has a job.

By that measure, only two countries in the G7 — Germany and Japan — have a higher percentage of employed today than when the recession began in the fall of 2008. Meanwhile, the United Kingdom and France are close to returning to pre-slump levels.

Canada's employment rate at the end of 2013 stood at 72.4 per cent among 15 to 64 year olds which, while high, is still 1.3 percentage points lower than before the recession.

The worst performers are the United States and Italy, with employment rates of 3.8 and 3.3 percentage points below pre-recession levels respectively.

Economists say while Canada did create over one million new net jobs since the recession, that growth barely kept up with population growth and, as a result, there are more unemployed Canadians today than in 2008.

The Canadian Press


Read more Business News

22899


Recent Trending




Today's Market
S&P TSX14744.70-177.74
S&P CDNX741.87-13.53
DJIA17828.240.49
Nasdaq4791.63+4.312
S&P 5002067.56-5.27
CDN Dollar0.8756-0.0004
Gold1175.20-21.40
Oil66.15-7.54
Lumber329.40+1.40
Natural Gas4.295+0.144

 
Okanagan Companies
Pacific Safety0.145-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.27-0.07
Cantex0.04-0.005
Anavex Life Sciences0.1998+0.0288
Metalex Ventures0.06+0.02
Russel Metals29.91-0.79
Copper Mountain Mining1.94-0.18
Colorado Resources0.125-0.005
ReliaBrand Inc0.0134-0.0001
Sunrise Resources Ltd0.05+0.005
Mission Ready Services0.325+0.005

 
23744


24120

FEATURED Property
198297192-1750 Lenz Road
2 bedrooms 2 baths
$329,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Don't stop dreaming!

On Wednesday evening I drove through the Bow Valley in Alberta. It is my old home town... the first place Jackie and I moved to in 1988 when we emigrated. We ended up setting up home there and living...


Second marriage issues

It is not unusual that one or both of the parties planning to marry are approaching marriage for the second time. There are pluses and minuses to this new situation. On the plus side, individuals ente...


The last great Canadian tax shelter

A guide to how flow-through fund limited partnerships can mightily aid your tax planning!The end of the year will raise concerns among many professionals, self-employed persons, business owners and ev...

_



24156

24231


Member of BC Press Council


22632