These trend lines show Canada’s job market moving in the wrong direction
Since monthly job numbers can be “volatile,” Finance Minister Joe Oliver likes to say that, “what’s more important is the long-term trend of job growth in Canada.” Well, University of Ottawa economics professor and Broadbent Institute policy fellow Miles Corak has crunched the numbers since 2005, and the trend lines aren’t pretty. Here’s a snapshot of what Corak found: […]
Since monthly job numbers can be “volatile,” Finance Minister Joe Oliver likes to say that, “what’s more important is the long-term trend of job growth in Canada.”
Well, University of Ottawa economics professor and Broadbent Institute policy fellow Miles Corak has crunched the numbers since 2005, and the trend lines aren’t pretty.
Here’s a snapshot of what Corak found:
- The employment rate, representing persons in employment as a percentage of the working age population, is as low today as it was at the lowest point of the recession 5 years ago.
- Youth employment hasn’t budged since it bottomed out during the recession 5 years ago.
- The 25-54 age set has seen employment decline for the last year.
- Men have seen employment stagnate for the last 3 years.
- The rate of employment among women has been in free fall since November 2013.
Corak charted what this looks like:
1. Overall employment rate
2. Youth employment rate
3. Working age employment rate
4. Male employment rate
5. Female employment rate
