Canadian unemployment stable at 7.2 % inflation falls to -0.4 % seasonally adjusted annual rate.

The last report on unemployment in Canada from the Labour force survey showed that unemployment in April was unchanged at 7.2 %. Quebec at 7.8 % and Ontario at 7.7 %  still show signs of slow growth and excessive unemployment. Once again the western provinces of Manitoba, 5.8%, Saskatchewan 4.0 % and Alberta 4.4 % show low to moderate rates of unemployment while Atlantic Canada still has elevated rates of 9.0 to 10.9 % Newfoundland suffers from 12.4  % unemployment. The participation rate held steady at 66.5 % The seasonally adjusted consumer price index inflation rate fell to -0.4 % on an annual basis mostly because of falling gasoline prices. Clearly there is no risk of inflation and no need to raise interest rates anytime soon. More stimulus not less is still needed.


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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