Miles Corak has a great post up about Paul Krugman’s “favourite gauge” of unemployment, the employment rate. Looking at the ratio of employed to population for working age men, he shows that the employment recovery in Canada appears to have stalled, moving very little since January 2011.
The graph below shows youth unemployment (right axis) and employment (left axis) from January 2007. In August 2012, youth unemployment was 14.8% – an improvement of 1.6 percentage points since the peak of the recession. The youth employment rate in August, however, was actually at its lowest point since the recession hit, with only 54% of youth aged 15-24 employed. So, by the employment rate, there has been no lasting recovery for youth.
- No Widespread Labour Shortage, widespread information gaps. (October 24th, 2013)
- Labour Force Numbers Worse Than They Look (August 9th, 2013)
- Funding Cuts to Alberta’s PSE Sector: There Are Alternatives (August 7th, 2013)
- OECD Findings on Employment Protection and Jobs Performance (July 19th, 2013)
- Canada Sinking Fast on Global List of Job Creators (July 17th, 2013)