Canada Unemployment

 

 

Unemployment in Canada has shown a fluctuating trend since the early 1990s. In 1993, unemployment in Canada rose to as high as 10.8%. By 2000, it dropped to 6.9%. Thereafter, unemployment rate in Canada rose again and by 2003 it reached 6.9%. The unemployment rate is one of the major indicators of the condition of the labor market in Canada. In March 2008, unemployment rate was 6%. There was an increase of 0.2 percentage points in unemployment rate of Canada during this period. Participation rate in Canada went up to a record figure of 68% in March 2008. In the last financial year, April 2007 to March 2008, growth rate of full time unemployment in Canada has been almost double the growth rate of part time employment. This has been a positive development in the labor market of Canada.

Unemployment Figures in Canada

In March 2008, the total unemployment in Canada among people over 15 years was 1,099,200 In February 2008, this figure stood at 1,056,600. This 4% rise in unemployment in a month has been quite significant. Among the youth, aged between 15 and 24 years, total unemployment in March 2008 was 323 thousand. This was a 4.3% decline from February 2008, when total unemployment was 337.5 thousand. Among men above 25 years in Canada, the total unemployment was 427.7 thousand, an increase of 8% over February 2008 when the total unemployment in this demographic group was 396 thousand. Among women aged over 25 years, the total unemployment in March 2008 was 348.6 thousand. The total unemployment in Canada for this age group in February 2008 was 323.1 thousand. This demographic segment experienced a high growth in unemployment of 7.9%.

Unemployment in Canada – by provinces

The unemployment rates of the different provinces of Canada for March 2008 are given below –

• Newfoundland and Labrador 12.6% (13.1% in February 2008)
• Prince Edward Island 10.4% (10.0% in February 2008)
• Nova Scotia 7.9% (7.7% in February 2008)
• New Brunswick 8.5% (8.1% in February 2008)
• Quebec 7.3% (7.0% in February 2008)
• Ontario 6.4% (6.1% in February 2008)
• Manitoba 4.3% (4.2% in February 2008)
• Saskatchewan 4.1% (4.1% in February 2008)
• Alberta 3.4% (3.5% in February 2008)
• British Columbia 4.3% (4.1% in February 2008)

According to Ken Georgetti, the president of the Canadian Labour Congress, the employment situation in Canada requires substantial attention. There has been a slowdown in growth of job creation and most new jobs in Canada are part time ones. Moreover, according to him, the growing disparity in unemployment situation between the two westernmost provinces and the other ones is also a matter a concern.

Important aspects of unemployment in Canada –

Latest figures are an evidence of the fact that the recession in the US economy is having spill over effects on Canada.

Most new job opportunities have been in Alberta and British Columbia. In the other provinces the major growth was in part time jobs.

In March 2008, 9400 manufacturing jobs were lost in Canada. 24, 000 youth lost full time employment.