On May 11th Environment Canada released its labour market survey report for April. It speaks of employment growth, and comes on the heels of an even stronger job market performance in March. But a simultaneous disappointing job market report from the United States and troubling economic news from the rest of the world mean that downside risks remain considerable. Risks at home remain significant as well: The strong performance comes in an environment of unsustainable, record-low interest rate and record high household debt levels among Canadians.
In a new recently released report, Statistics Canada compared the job market impact of the recent economic downturn (2008-2010) with that of earlier recessions. According to the study, employment grew more quickly this time than in the previous two recessions of the early 80’s and early 90’s. However, the report may have overlooked some unique aspects of the impact that this downturn had on the job market.
Continue reading This Labour Market Downturn was not as Bad as Earlier Ones. Or Was It?