Thursday, March 5th2.8°C
25405

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




Recent Trending




Today's Market
S&P TSX15103.11+20.271
S&P CDNX696.92-1.17
DJIA18135.72+38.82
Nasdaq4982.81+15.668
S&P 5002101.04+2.51
CDN Dollar0.8015+0.0004
Gold1196.30-4.2999
Oil52.90+0.35
Lumber287.00-3.70
Natural Gas2.826-0.015

 
Okanagan Companies
Pacific Safety0.13-0.005
Knighthawk0.010.00
QHR Technologies Inc1.65+0.10
Cantex0.035-0.005
Anavex Life Sciences0.184+0.004
Metalex Ventures0.045+0.005
Russel Metals24.27-0.68
Copper Mountain Mining1.240.00
Colorado Resources0.130.00
ReliaBrand Inc0.0065-0.0015
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.22-0.005

 





FEATURED Property
2159343373 Farron Court
5 bedrooms 6 baths
$1,685,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Refinance your mortgage?

Canadian Mortgage rates are low and could be dropping down in time for the spring market following a drop in the Bank of Canada Rate on January 21 by 1/4% which will save new buyers and those with mo...


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...


It's OK to say 'I'm sorry'

Photo: ContributedStand-up comedians and sitcoms have been making fun of Canadians for being polite as long as I can remember. Being known for our niceness is certainly not a bad thing and I wish more...

_








Member of BC Press Council


24681