Last week, Statistic Canada published new employment numbers. Paid employment declined by 46000. Total employment (include self employed) fell by 22000. Yet the unemployment rate fell to 7%, lowest level since 2008. Why is that? Unemployment rate only includes individuals who are in active job search. For those who have given up will no longer be included in the labour force, hence the unemployment rate decreased.
The decline in participation corresponds to the disappearance of 355,000 Canadian workers. If putting 355,000 workers back into labour force, they would add $38 billion to GDP, which is close to $15 billion of government revenue.
Article: http://rabble.ca/columnists/2013/02/ canadians-giving-world-work/
The decline in participation corresponds to the disappearance of 355,000 Canadian workers. If putting 355,000 workers back into labour force, they would add $38 billion to GDP, which is close to $15 billion of government revenue.
Article: http://rabble.ca/columnists/2013/02/ canadians-giving-world-work/