Unemployment Rate In Canada

Superior Essays
Show More
Unemployment

Unemployment occurs when there is more labour demand than labour supply in a society. The unemployment rate is a tool to define the percentage of unemployed people in the labour force who are seeking a job.

• Unemployment rate.

• Creation of part time jobs to recover for the losses of full time positions.

• Flat and steady growth of the economy

• More unemployment due to the Canadian recession in the oil and sand industries

• Gain of jobs in August comparison to July.

1 Section1_StephanieMurcia_Unemployment.docx

The graph below shows that there have not been any dramatic changes from July to

August of 2016. Source by: Statistic of Canada.

Statistic in Provinces of Canada

Unemployment Rate

20.00% …show more content…
However, the oil and sand industries have also affected other sectors such as: the house market, entertainment sectors (restaurants, movies, boutiques and more). Reason why Ontario has an increase in unemployment to 6.7% from 6.4% (Statistic Canada, 2016) in July as the house marking is being impacted. In contrast, society created new more part time positions to make for the losses of full time positions in order least the impact in the economy. Still, the unemployment rate increased as new individuals enter the workforce and more people are being layoff. The increase of the unemployment rate was of 0.1% in just one month, this means that the efforts in creating jobs to sustain the economy is below than demand. Alberta contrary to Ontario was able to reduce their unemployment rate by -0.2 in August compared to July. Nevertheless the growth in employments is steady and …show more content…
In this case the government is able to work on their own self-interest by taking into consideration the social interest (this means choices that are best for society). There are two dimension in the social interest efficiency and equity. First of all the creation of new part time jobs was efficient as they were able to provide some jobs, but the people who lose those full time position in order to create part time jobs were affected. The other part is equity, those decisions were not fair as part time positions cannot offer the same benefits and wages a

Related Documents

  • Superior Essays

    Minimum Wage Amendment
    • 1587 Words
    • 6 Pages

    Minimum Wage Amendment

    In our country today as prices rise, our minimum wage remains the same; this only puts more of a strain on individuals living on the minimum wage, because they cannot afford to keep up with rising prices. Eleven states have implemented this principal including Arizona, Colorado, Florida, Missouri, Montana, Nevada, Ohio, Oregon, Vermont, and Washington. In 2014, theses states saw their wages go up 10 to 15 cents, which helped to benefit over 2.5 million workers (Raisetheminimumwage.com). Indexing the minimum wage for all 50 states would very much help our country as whole. This is because each year prices rise in consumer products.…

    • 1587 Words
    • 6 Pages
    Superior Essays
    Read More
  • Improved Essays

    Eurozone Swot Analysis Essay
    • 935 Words
    • 4 Pages

    Eurozone Swot Analysis Essay

    CHINA INDUSTRIAL PRODUCTION Industrial production in China rose 5.90 percent year-on-year in December of 2015, slowing from a 6.20 percent increase in the previous month and missing market expectations of 6.0 percent growth. Manufacturing sector expanded the most by 7.0 percent, followed by mining. In contrast, electricity, heat, gas and water production and supply declined by 0.8 percent. From January to December 2015, industrial output rose 6.1 percent. On month-on-month basis, industrial output grew 0.41 percent.…

    • 935 Words
    • 4 Pages
    Improved Essays
    Read More
  • Superior Essays

    Raising Minimum Wage Report
    • 1747 Words
    • 7 Pages

    Raising Minimum Wage Report

    An increase in minimum wage may enhance the lives of citizens, but it could also hurt them. There are many different views concerning the alteration of the minimum wage, however it should be kept the same. Particularly, raising the minimum wage will hurt the less educated people. Because they lack schooling, they often do not…

    • 1747 Words
    • 7 Pages
    Superior Essays
    Read More
  • Superior Essays

    Examples Of Economic Inequality
    • 1351 Words
    • 6 Pages

    Examples Of Economic Inequality

    Opponents will say that raising the minimum wage will help to bring people out of poverty. After a recession one would expect economic growth, but this can be slowed through low pay across the country(Economist 1). An increase in the minimum wage would result in less workers as businesses cut costs to stay open. A minimum wage increase to $10.10 would result in five hundred thousand lost jobs in the nation as found by the 2014 congressional budget office(Puzder 1). The employees that remain are then forced to work harder for the small increase that they receive in their pay.…

    • 1351 Words
    • 6 Pages
    Superior Essays
    Read More
  • Superior Essays

    Mexican Financial Crisis Case Study
    • 1120 Words
    • 5 Pages

    Mexican Financial Crisis Case Study

    Unemployment and informal employment increased and by September 2009 it had peaked at 6.4%, which was twice the unemployment from the previous year. Also, because of the recessive labor market in the United States, immigrant workers had a hard time finding jobs. This negatively affected Mexico’s remittance flow. This is important to note because the consumption of low income families in the regions of Mexico with high migration rates heavily depended on the flow of remittance from the United States. Reducing the Impact In response to the global financial crisis Mexico implemented different policies.…

    • 1120 Words
    • 5 Pages
    Superior Essays
    Read More
  • Improved Essays

    Case Study Cartwright Lumber Company
    • 716 Words
    • 3 Pages

    Case Study Cartwright Lumber Company

    1) Cartwright Lumber has had steady YOY growth of 19% and 34% in 2002 and 2003 respectively. However, the first quarter of 2004 demonstrates slow growth to only 7%. This slowdown in growth is cause for question as to the projected continued growth of the business. Further analysis into the financial statements will reveal additional risk. Cartwright has had a steady decrease in cash, and an increase in AR and inventory which means more sales to customers but these sales are on credit.…

    • 716 Words
    • 3 Pages
    Improved Essays
    Read More
  • Superior Essays

    Star River Electronics Case Study Essay
    • 1242 Words
    • 5 Pages

    Star River Electronics Case Study Essay

    The company lost 34% of earnings between 1999 and 2000, but manage to come out of that loss by 2001. However, even without significant loss here, the Net Income does not equally represent the strength in the company’s financial growth the way sales do. The overall production costs have increased steadily as well, but this is probably due to the large amount of inventory added between 2000 and 2001. We see the increase of inventory cost spike from an 35% up to 58%, increasing total assets and we see that reflected back into the sales. This is supported also by the large spike (49% increase) in short-term debt from 1999 to 2000.…

    • 1242 Words
    • 5 Pages
    Superior Essays
    Read More
  • Improved Essays

    Impacts Of Unemployment
    • 834 Words
    • 4 Pages

    Impacts Of Unemployment

    In the article that I have read on unemployment, it gave knowledge about how the U.S. economy (2015) was expected to continue on its previous growth path and on into at least the first quarter of next year (2016). The GDP growth rate is expected to remain somewhat consistent in the 2.25 percentage range. There has been a decline in the unemployment rate (now at 5.5 percent). There is also minimal improvement in disposable income that have raised spending. Simultaneously, GDP growth has also remained indifferent due to cautious consumers who have squeezed by a small rise in wage rates.…

    • 834 Words
    • 4 Pages
    Improved Essays
    Read More
  • Improved Essays

    Raising The Federal Minimum Wage Analysis
    • 1846 Words
    • 8 Pages

    Raising The Federal Minimum Wage Analysis

    Increasing the federal minimum wage, itself, has been an ongoing debate in the United States. Some people are afraid that if the federal minimum wage was to increase, it would force businesses to lay off employees, which would result in an increase in the unemployment levels. This may be true, however, the Economic Policy Institute stated that if the federal minimum wage was to increase, it would inject $22.1 billion dollars into the economy and create about 85,000 new jobs over a three year phase period. Also, someone who has been laid off could apply for unemployment and automatically be accepted. When accepted, the person, who was laid off, would receive money from the company that laid them off, until the person finds a new job.…

    • 1846 Words
    • 8 Pages
    Improved Essays
    Read More
  • Improved Essays

    Advantages And Challenges Of The European Region
    • 1138 Words
    • 5 Pages

    Advantages And Challenges Of The European Region

    The general trend, however, is that trade within the EU has altered drastically up to 30% since 1992 and continue to do so. What is more, removal of customs barriers meant that possibly around 60 million customs clearance documents per year were no longer needed to be completed as well as cutting bureaucracy has reduced costs at delivery times. Thus, Graph 2 (see Appendix) shows that the European Union has attracted great inward investment from outside of the EU (£106.5 billion), which has led to the successful implementation of the economic…

    • 1138 Words
    • 5 Pages
    Improved Essays
    Read More

Related Topics

Ready To Get Started?
Discover
Company
Follow
©2023 Cram.com
Privacy Policy |  CA Privacy Policy |  Site Map |  Advertise  | 
  • Cookie Settings