Wednesday, January 10, 2007

6% Unemployment in Canada, A 30-year Low

The unemployment rate in Canada just hit a 30-year low of 6.1% in December, the lowest rate since 1977 when Pierre Trudeau was Canada's prime minister and Jimmy Carter was U.S. president. During the last U.S. recession from March - November 2001, the unemployment never got higher than 5.5%. When the unemployment rate continued to rise to rise and peaked at 6.3% in June of 2003, it was dismissed as a "jobless recovery."

When the U.S. unemployment rate is around 6%, it's called a "jobless recovery." When the Canadian unemployment is about 6%, it's celebrated as the lowest jobless rate in a generation. The fact is that the U.S. economy, even its worst years, is still better than most other economies during their best years.

2 Comments:

At 1/10/2007 7:29 PM, Anonymous Anonymous said...

My evaluation of this graph is that it is going to have to rise up sooner than later. I have not seen many flat lines with this kind of data.

 
At 1/11/2007 4:35 PM, Anonymous Anonymous said...

Amen to that article...so why are so many americans supporting policies that would make us more like the lower performing nations?? Ignorance is contagious!

 

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