Canadian unemployment falls to 7.2 % in June

The employment news was better in Canada than the U.S.Accoring to Statistics Canada the rate of unemployment fell one tenth of a percent in June from 7.3 to 7.2 % . The participation rate is 66.7 %. The unemployment rate fell in both Ontario and Québec to 7.7 % Unemployment in Alberta was 4.6 %;Manitoba 5.2 %; Saskatchewan 4.9 %; B.C. 5.6 %. It remained elevated in Newfoundland at 12 %;P.E.I. 11.3 %;Nova Scotia 9.6 % and New Brunswick 9.5 %

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About haroldchorneyeconomist

I am Professor of political economy at Concordia university in Montréal, Québec, Canada. I received my B.A.Hons (econ.&poli sci) from the University of Manitoba. I also completed my M.A. degree in economics there. Went on to spend two years at the London School of Economics as a Ph.D. student in economics and then completed my Ph.D. in political economy at the University of Toronto. Was named a John W.Dafoe fellow, a CMHC fellow and a Canada Council fellow. I also was named a Woodrow Wilson fellow in 1968 after completing my first class honours undergraduate degree. Worked as an economist in the area of education, labour economics and as the senior economist with the Manitoba Housing and Renewal Corporation for the Government of Manitoba from 1972 to 1978. I also have worked as an economic consultant for MDT socio-economic consultants and have been consulted on urban planning, health policy, linguistic duality and public sector finance questions by the governments of Manitoba, Saskatchewan,the cities of Regina and Saskatoon, Ontario and the Federal government of Canada. I have also been consulted by senior leaders of the British Labour party, MPs from the Progressive Conservative party, the Liberal party and the New Democrats on economic policy questions. Members of the Government of France under the Presidency of Francois Mitterand discussed my work on public sector deficits. I have also run for elected office at the municipal level. I first began to write about quantitative easing as a useful policy option during the early 1980s.
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One Response to Canadian unemployment falls to 7.2 % in June

  1. circuit says:

    In Canada, the unemployment rate tends to drop whenever the household sector deficit (i.e. net borrowing) increases. In other words, increased household indebtedness is associated with drops in unemployment. See here:

    The dilemma moving forward is to find another channel through which to reduce unemployment, seeing as household debt is stretched to the limit now. Either government or corporate investment could work. The Government and BoC are hoping that external demand could play a leading role.

    By the way, this link may be of interest to you. There’s an interesting discussion on JM Keynes and the return to the gold standard in the comments:

    http://fictionalbarking.blogspot.ca/2012/06/employment-and-productivity-growth.html

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