Thursday, July 24th10°C
22715
21953

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 TSX15394.38+79.25
S&P CDNX1012.231.35
DJIA17086.63-26.91
Nasdaq4473.697+17.681
S&P 5001987.01+3.48
CDN Dollar0.9316-0.0008
Gold1313.40+4.2001
Oil104.30-0.29
Lumber332.40-0.90
Natural Gas3.784+0.022

 
Okanagan Companies
Pacific Safety0.200.00
Knighthawk0.01-0.005
QHR Technologies Inc1.15-0.04
Cantex0.08+0.02
Anavex Life Sciences0.325-0.005
Metalex Ventures0.07+0.005
Russel Metals35.65+0.05
Copper Mountain Mining2.76-0.07
Colorado Resources0.2150.00
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.19+0.01

 



22567

FEATURED Property
1982752340 - 2330 Butt Rd.
4 bedrooms 3 baths
$445,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Geopolitical tensions rattle markets

The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...


Labour shortage in BC

The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...


Learn to delegate effectively

Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...

_








Member of BC Press Council


22581