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Welcome to this Padlet wall! here we will be discussing Economic growth and Unemployment in Canada!

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Website Summary

This very detailed website takes a numerical approach to looking at the employment rate in Canada. According to “TradingEconomics.com” the unemployment rate in Canada was at 5.8 percent in March 2019 and it has been unchanged from the previous month. Its remained the highest jobless rate since October 2018. Since 1966 to 2019 the average unemployment rate has been 7.64 percent but reaching an all time high of 13.10 percent in December 1982 and the lowest of 2.90 percent in June 1966. This website also goes in-depth with different types of Canadian labour and what the last percent, previous percent, highest, and lowest percentages are. For example, “Labor Force Participation Rate” is sitting at 65.70 percent with its previous percentage of 65.80, highest percentage at 67.70 and lowest at 61.40 percent.

I chose this website because...

I chose this website because it goes really in-depth with the break down of the unemployment rate as well as has a bunch of different statistics. I find when it comes to certain topics especially with a sensitive topic such as unemployment people try make the number sound good or always try to take the positive route. Hence why I love this website where all the statistics are laid out with pure facts based on the statistics given. It even goes out of its way to display the fluctuation such as the max and min values. It even gives you the unemployment rate of other countries so you can compare our percentage to other countries statistics.

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Canada Unemployment Rate | 2021 Data | 2022 Forecast | 1966-2020 Historical | Calendar

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The unemployment rate in Canada declined for the fourth straight month to 6.9% in September of 2021 from 7.1% in August, as widely expected. That was the lowest jobless rate since the onset of the pandemic in February of last year, as several provinces had implemented proof-of-vaccination requirements, or planned to do so, which allowed for non-essential venues to reopen more safely.

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Website summary
This website goes into in-depth with the Canadian outlook economic forecast, Canadian Outlook Long-Term Economic Forecast and the Canadian outlook bulletin. While providing highlights for each area. The Canadian outlook economic forecast has a couple highlights such as the Canadian economy is projected to grow by 2.1 percent in 2018 but slowing down to 1.9 percent in 2019. As well as household spending has been the leading factor in economic growth over the last couple of years but will slowly decrease due to household debt, rising interest rates, and soft wage growth. On the long term side of things the site states the Canadian economic growth is project to sink back to 2 percent and that anymore growth is unlikely to exceed 2 percent within the foreseeable future.

I chose this website because…

I chose this website because it covers more then just one area of Canada's economic growth. It looks at the future economic forecast, the current outlook of Canada's growth, and the future expectations of Canada's economic growth. It shows the highlights of each area giving you a quick just answer but if you wanted to learn more on each are you could click on the bulletin to read the whole report. I find this a very good idea because the highlights are a quick summary of the most important data collected in each set but if you where to click into it, it could expand on the highlight and give you a more detailed answer.

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Canadian Outlook Economic Forecast

This quarterly economic forecast presents the short-term national outlook.

Highlights

The Canadian economy is projected to grow by 2.1 per cent in 2018 before slowing to 1.9 per cent growth in 2019.

Household spending has been driving economic growth over the last several years but will ease in the face of high household debt loads, rising interest rates, and soft wage growth.

Residential construction will fall, pulled down by the lower demand for new homes and a weaker outlook for renovation spending.

Energy investment will remain weak due to ongoing weakness in Canadian oil prices. Energy exports will decline as low investment takes a toll on future production and government-mandated production cuts take effect in Alberta.

Stronger economic growth will depend on improved business investment and a better performance from the non-energy trade sector.

Canadian Outlook Bulletin

This briefing provides highlights of our quarterly Canadian Outlook report, which presents the short-term national outlook.

Highlights

High debt levels, rising interest rates, and falling house prices are leading to a pullback in the pace of consumer spending and overall economic growth.

Canada's export sector will remain on shaky ground over the near term as rising protectionist measures from the U.S., and continued uncertainty surrounding the outcome of the NAFTA renegotiations, dominate and undermine the sector's outlook.

Despite the pickup in inflation and wages since the beginning of this year, the Bank of Canada will remain cautious, as it gradually reduces monetary stimulus from the economy over the near term.

Canadian Outlook Long-Term Economic Forecast

This annual economic forecast presents the long-term national outlook. The U.S. economic outlook is presented in a separate section.

Highlights

Following a year of stunning gains, Canadian economic growth is projected to sink back below 2 per cent in 2018. Growth is unlikely to exceed 2 per cent again within the foreseeable future.

After falling almost 20 per cent over the last two years, business investment eked out a small increase in 2017. Further increases will likely be moderate. As such, total business investment is unlikely to return to its 2014 highs until the middle of the next decade.

Household consumption has been driving the economy's recent strong performance, but consumers' ability to spend will lessen over the next several years due to high consumer debt levels, a cooling housing market, and slowing employment growth.

Given the recent weakness in business investment and the above-potential growth over the last year, the economy is butting up against capacity constraints. We expect the economy to be operating at close to full potential next year. After that, economic growth will be constrained by weak potential output growth.

The withdrawal of the baby boomers from the workforce over the forecast will increase the retirement rate, put downward pressure on the participation rate, and result in slower potential output growth.

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This quarterly economic forecast presents the short-term national outlook. The Canadian economy is projected to grow by 2.1 per cent in 2018 before slowing to 1.9 per cent growth in 2019. Household spending has been driving economic growth over the last several years but will ease in the face of high household debt loads, rising interest rates, and soft wage growth.

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Summary
This Website talks about the current predicted growth of Canada's economy and how it is affected. The website states the current predicted growth to be 2.1% and that exports are up by 2% when compared to the previous year. It then continues to go on about how all this has caused an increase to employment stating that it grew by 219 thousand jobs in the last 12 months. The website then proceeds to mention trade tension on there possible affects on the Canadian economy.
I chose this website because
I chose this website Because it shares a variety of information about the predicted growth as well as comparing it to the previous year. It proceeds to takes the information and works it way down the list as one thing affects another and so on. It also talks about how the economic status of other countries is affecting that of our own.

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Employment keeps rising

It also means more jobs. Canadian jobs grew by 219,000 jobs over the last twelve months, the majority in full-time positions.

More jobs are good for consumer spending, which has been slowing as interest rates rise and people pay down their bills. The Bank of Canada will continue to do a balancing act on rates so as to keep household debt in check while keeping the growth engine running.

Economic Pulse: 2019 Economic Forecast
2019 economic forecast with our Chief Economist, Pierre Cléroux.

Canadian economy expected to grow by 2% in 2019

The Canadian economy will remain solid in 2019 and will likely continue to expand at about 2%. It signals that the country is using current capital and labour at close to full capacity.

From a provincial perspective, British Columbia and central Canada will drive Canada's growth next year. Should oil prices improve so will prospects for Alberta and Saskatchewan.

Trade tensions won't stall global economy

Another source of uncertainty possibly weighing on confidence and the loonie are the tariffs on steel and aluminum, which remain in place despite the new deal with the U.S. and Mexico. Given that the new deal will exempt Canada for the first 60 days of the U.S. imposition of national security tariffs to allow the countries to negotiate, the prospect for eventual removal of these tariffs seems positive.

China's economy continues to expand at a good pace-6.6% this year-but is expected to slow to 6.2% in 2019.

International trade slowed in the second half of 2018 compared with the previous 18 months. While the rise in the U.S. import tariffs from 10% to 25% on US$ 200 billion of Chinese imports has been postponed to April 1, 2019, China will likely respond with additional retaliatory measures. These trade barriers will temper growth across the world.

So far, China's economy continues to expand at a good pace-6.6% this year-but is expected to slow to 6.2% in 2019. Europe's and Japan's economic growth slowed in 2018 hitting 2.0% and 1.1% respectively, and each will slow further in 2019, according to the International Monetary Fund.

U.S. is pulling ahead of most countries

Despite rising import tariffs, U.S. economic growth has propelled global growth over the past year. The key reason: corporate and personal income tax cuts implemented in January 2018. They have spurred business investment and consumer spending. Spillover effects may be expected in Canada as Americans buy more and visit more.

The U.S. is expected to continue its expansion next year, though at 2.5%, versus 2.9% in 2018. The higher interest rate has supported an appreciation of the U.S. dollar against most currencies, including the loonie.

Strong U.S. economy will pressure the Canadian dollar

The Bank of Canada is raising interest rates more slowly than in the U.S., and this means that the loonie will remain low. The bright side of a lower loonie is that Canadian export goods are cheaper and tourism gets a boost.

The new USMCA trade deal helped reduce the loonie's slide in recent months. Uncertainty remains, given that ratification of the deal isn't expected until the spring. There are fears that Congress, now dominated by Democrats, might seek changes.

Overall, the loonie is likely to trade within a range of 75 to 80 cents against the U.S. dollar in 2019.

Global benchmark oil prices between US$55 and $75 per barrel are expected in 2019, though may move to the upper part of the range given the new supply cut agreed between OPEC and Russia earlier this month. Canada's oil will continue to trade at a significant discount as limited pipeline capacity continues to weigh on our ability to export.

Overall, the loonie is likely to trade within a range of 75 to 80 cents against the U.S. dollar in 2019. From its current level, it could creep up a little, perhaps to 78 cents to the US dollar over the course of the year, as various elements of uncertainty dissipate.

Two major trends: people and technology

An aging population and technological change are transforming the Canadian business landscape.

As Canada's baby boomers are heading to retirement, the growth of Canada's working age population will remain below 0.2% next year and the decade to come.

A recent BDC study found out that around 40% of Canadian small and medium-sized businesses are struggling to find the people they need to grow. This limits their growth and will eventually impact the economy. Business owners need to get creative to find the talent they need to continue to remain competitive.

Technology is the second big trend that will continue to affect Canadian entrepreneurs. New technologies are transforming business models and requiring additional investment efforts.

Another recent BDC study found that only 19% of Canadian businesses are digitally advanced. This is a huge missed opportunity as digitally advanced companies are 62% more likely to have enjoyed higher sales growth than all other businesses over the past three years.

Challenges and opportunities for entrepreneurs

Despite labour shortages, technological change, trade tensions and rising interest rates, global economic growth and increasing exports, employment and investments will ensure that Canadian economic expansion remains solid in 2019.

Entrepreneurs who want to take advantage of the current upswing to grow their business need to be agile and focus on attracting and retaining the right talent. Employing under-used resources such and immigrants or older workers, and a focus on technology will help productivity and improve competitiveness.

Business owners who act now are the ones who are going to continue to grow and remain competitive.

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2019 economic outlook: How will Canada perform?

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It also means more jobs. Canadian jobs grew by 219,000 jobs over the last twelve months, the majority in full-time positions. More jobs are good for consumer spending, which has been slowing as interest rates rise and people pay down their bills.

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Summary
This website talks about some of the more recent information about employment. It starts by talking about the current state of the job market then proceeds to talk about possible reasons as to why labor shortages aren't driving wages up. Lastly it talks about what factors could slow or hinder wage growth in the future.
Why I chose this website
I chose this website because it goes in to detail on the subjects it covers and its informative on as well as covering not only the positive but the negative side of its topic then ties it altogether in a conclusion that gives a general idea of the state of the market as a whole.

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Introduction

It is a pleasure to be here in Toronto today, and I'd like to thank the Toronto Region Board of Trade for the invitation.

In many ways, 2019 has gotten off to a challenging start. What's happening in the housing market here at home, lower oil prices, the trade conflict between the United States and China, and Brexit are top of mind for all of us.

Canadians will be more confident facing these challenges if they feel secure in their jobs. This is vital to your bottom lines as business people: without secure, good-paying work, sooner or later demand for your products and services will suffer.

For central bankers like me, the job market is a bellwether of financial health and a useful gauge of inflation pressures. And by many measures, the labour market in Canada is in good shape. The unemployment rate is at its lowest level in records going back more than 40 years. Firms across the country tell us that it's difficult to fill openings. I suspect many employers here in Toronto can relate.

These are signs of labour market strength. Certainly, many are benefiting from the positive overall environment. Not everyone is, though; recent layoffs in the auto sector have touched many families in this region, and there have been layoffs and closures elsewhere in the country. Moreover, wages overall in Canada are not rising as fast as we would expect given how low unemployment is.

Today I will look under the hood of the Canadian labour market to answer a few important questions:

How well is the job market really doing?

If firms are finding it so tough to fill jobs, why don't they just offer higher wages?

What structural factors could weigh on wage growth going forward?

The answers to these questions will help the Bank find the right path for interest rates to meet our inflation objective. They will also help businesses and governments develop strategies to boost Canada's prosperity over the longer term.

So, how well is the job market really doing?

Let's start with a few basic facts.

Last year, the economy added a net 163,000 jobs, all full-time positions. The unemployment rate fell to 5.6 per cent, a historic low. The participation rate for prime-age workers (those aged 25 to 54) is around 87 per cent, near its all-time high.

If that sounds positive, it's because it is. However, it raises the question for the Bank of Canada of whether the job market is at a point where inflation pressures are starting to build. If you use the trend or "natural" rate of unemployment as a guide-that's the rate that puts neither upward nor downward pressure on inflation-then, at first glance, the answer could be yes. 1 That's because our most recent staff analysis puts Canada's trend or natural rate of unemployment in the range of 5½ to 6½ per cent. 2

However, I think this conclusion would be too hasty. The natural rate of unemployment is like dark matter in physics. Estimates are subject to great uncertainty, perhaps even more so than with other useful economic concepts like potential output. They also move around as the structure of the economy changes. The natural rate of unemployment in Canada was estimated to be around 9 per cent during the 1990s-it was brought down in large part by labour market reforms, although estimates in real time only captured these changes with a lag. 3

This uncertainty means that it is imperative to look beyond such measures of "full" or maximum employment toward other indicators of labour market slack. In this instance, the Bank has pointed to relatively subdued wage growth as a possible sign that the job market may have more room to run.

Economic theory tells us that when the actual jobless rate is at the natural rate, an economy is essentially at full employment. At that point, we would expect wages to be rising at the same pace as the target inflation rate plus the trend rate of productivity growth. This is because the strongest underlying factors that determine worker pay in real terms are how productive workers are and their value to an employer's production process. 4 So, for Canada, this implies wage growth of around 3 per cent-2 per cent for inflation and 1 per cent for trend productivity growth.

Wage growth has picked up considerably to average about 2½ per cent in 2018, compared with 2 per cent over the past five years. 5 But we are still shy of what one would expect in a tight labour market.

The story is similar in the United States. The US jobless rate has been below 4 per cent for a while. This is much lower than the estimate of the US natural rate-currently pegged at around 4½ per cent. 6 Yet, wage gains only recently reached the sum of inflation and productivity growth.

In Canada, regional and sectoral factors can explain a lot of why wage growth has been tame. The steep drop in oil prices that occurred in the second half of 2014 had an impact that rippled across Canada and is still being felt. Wage gains in energy-intensive regions continue to lag behind those in the rest of the country.

To give you a sense of how big a deal this is, wage growth in the third quarter of 2018 was just under 2 per cent in Alberta, Saskatchewan, and Newfoundland and Labrador. It was about three-quarters of a percentage point higher in Ontario and Quebec, so closer to the 3 per cent one would expect.

That divergence makes sense when you consider that investment and jobs in energy-intensive regions respond to oil prices. In fact, there was a massive increase in employment in these regions from 2000 to the end of 2014, and they led wage growth. With much lower oil prices since 2015, employment in the oil and gas sector has fallen by about 20 per cent-that is about 30,000 jobs.

Other goods-producing sectors, such as manufacturing and agriculture, are also becoming less prominent employers. 7 Instead, a range of service sectors have contributed to job growth, in exactly the places you would expect given longer-term trends. Digitalization has led to a burst of jobs in computer system design-up by around 40 per cent over the past five years. There has also been a boom in health-related jobs, particularly elder care.

Almost all the jobs created in services have been full-time, and about two-thirds have been in industries that pay higher-than-average wages. Over the past year, service-sector wage gains were much stronger than those in the goods sectors. 8

Yet, even after accounting for these regional and sectoral factors, wage growth overall is still a bit short of what one would expect at this stage.

This is particularly puzzling when you consider what businesses are telling us about how hard it is to fill jobs. Firms in our latest Business Outlook Survey reported one of the highest levels of labour shortages since the Great Recession. And job vacancies continue to rise, now totalling about 550,000.

Why aren't labour shortages driving up wages?

If the right workers are so hard to attract, why not simply offer more money? Many firms are doing just that. However, other factors must be holding back wages, or the national numbers would be higher. As far as I can tell, no one has found a smoking gun. But there are at least a couple of compelling suspects.

The first is that it might be difficult to find the right person for the job. Attracting the right talent is rarely just about money. I can tell you, in my business it is not easy to find all the specialized talent the Bank needs. Estimates suggest that about 1 out of every 10 jobs in Canada is affected by mismatches between the skills that the job requires and the skills that workers actually have. 9 The sectors with skills shortages are no surprise: health care and the digital economy top the list. Meanwhile, sectors like manufacturing and natural resources have a surplus of people with the required skills.

The second suspect is a sense of caution. People may be reluctant to search for a better job even if they would like one. The data bear this out. Turnover in the Canadian job market, a process known as job "churn," is relatively low these days. 10 Higher churn usually means higher wages, because the people willing to change jobs-to trade up-typically drive wage gains in the economy. Job churn is especially sluggish in oil-producing provinces, where wage gains have been most restrained. 11 As a comparison, job churn in the United States has recovered more quickly, in part because the oil price shock was positive for the US expansion. That churn has supported US wage growth.

Another suspect is geography. Canada is a beautiful country, but its sheer size does not help. The data show that Canadians have become more open over the past few decades to relocating for new opportunities. 12 Still, it is no small thing to pull up stakes and move to a new city or province, often far from friends and family. If you are fortunate enough to find a job that is a good match for your skills and ambition, you still have to ask yourself: Will housing be affordable? Will the commute be a nightmare? Will my partner be able to find meaningful employment too?

I'll bet a few people in this room have had prize candidates slip away once they realized that they could not afford Greater Toronto Area housing prices, or were not keen to spend hours commuting to work every day if they lived further out.

As the expansion continues, history tells us that job churn will pick up as employment continues to grow. This should lead to more employers finding it necessary, and worth their while, to offer higher wages.

What structural factors could weigh on wage growth going forward?

All that said, some forces that have been weighing on wage growth are structural, and therefore are likely to persist. In fact, these forces are not unique to Canada; they are being felt in many advanced economies. 13

How innovation is playing out in the global economy is at the centre.

Technological advances have lowered demand for many types of routine jobs, both cognitive and manual, in all advanced economies, including Canada. These losses have been more than offset by jobs in other sectors that are experiencing stronger employment and wage growth. High-tech workers are the most obvious example. At the same time, more and more workers have to compete for jobs with people around the world as firms work to stay competitive in global markets.

Another effect of the most recent wave of innovation is the rise of "superstar" firms that are making the competitive landscape more challenging. 14 While issues around market power are hardly new, control of valuable consumer data and of electronic platforms can act as modern impediments to competition. When a few firms dominate an industry, or a firm becomes the only major employer in town, workers have little choice but to stay in their jobs regardless of wages or other labour conditions. Consequently, those firms may feel less pressure to raise wages for many of their workers even as the job market tightens. It is not just digital firms: concentration is growing across many industries in some countries, including Canada and the United States. 15 Because workers' wages have not kept pace with gains in productivity over the last few decades, their share of income has fallen, particularly in the United States but also in Canada.

The relationship between employers and workers has also changed. We know that employers are making greater use of employment agencies and short-term contractors to replace salaried employees. Unionization rates in the private sector are down. And we hear from labour market experts that this has changed the social contract between companies and their workers.

The gig economy has also created a new set of jobs in Canada and elsewhere that reduces the bargaining power of workers as well. These non-standard jobs may have advantages, such as the ability to work as needed-Uber drivers come to mind-but many workers in these jobs indicate that they would prefer more stability. A recent Bank survey of Canadians found that roughly one-third of respondents were participating in some form of non-standard or gig employment. 16 For many it was as a side job to top up income. These workers were more likely to be young and to live in provinces where jobless rates are historically high. By our count, the number of people in Canada doing non-standard work because of weak economic conditions who would rather be doing something more formal is equivalent to about 700,000 full-time positions.

To be sure, monetary policy can do little to directly influence structural issues affecting the labour market and the wider economy. My job is to keep inflation low and stable so that people like you in the business community can operate in a predictable environment that supports sustainable economic growth.

That said, there is considerable scope for other public policies, and for businesses, to enhance the long-term prosperity of workers-your customer base-and by extension the economy.

We all recognize the importance of investing heavily in the right skills for the digital economy, and for other growing sectors like elder-care services. While governments may be on the front lines, businesses need to play a stronger role in partnering with schools and universities. We want more students to gain pertinent experience and to develop the working relationships that foster entrepreneurship. This has been happening for years. For instance, about two-thirds of University of Waterloo students are in co-op placements with firms across Canada. Other schools, such as Carleton University, are expanding their links to locally based tech industry leaders. And it does not stop once you have made the hire. More businesses need to invest in their employees throughout their careers. Many tell us that is exactly what they are doing, through intensive in-house training.

What is less prominent in discussions on how to improve the job market is supporting worker mobility-this would help businesses attract the right people for the job. Affordable housing is front and centre. It is to a large extent an issue of supply. Then there is the issue of transportation infrastructure in major job markets. And supporting mobility also includes removing barriers to interprovincial trade.

Finally, let's not forget that the competitiveness of Canadian businesses is at the foundation of a robust job market. The tax changes made by the federal government last autumn are a positive step in this regard and should lead to more investment in capacity and productivity. Higher productivity would make it easier for wages to rise faster without increasing inflation pressures. Strategies geared to developing and adopting new technologies in a digital and data-driven economy-across all sectors-will also be critical to our economic potential.

Conclusion

It is time to wrap up.

Despite a challenging start to the year, the labour market in Canada is in a solid place overall. It is worth looking under the hood of the job market to better understand emerging inflation pressures and what strategies might add to Canada's prosperity.

Some of the weakness in wage growth can be explained by continued adjustment in energy-intensive regions to lower oil prices. There are also some structural factors both inside and outside Canada that may continue to weigh on overall wage growth.

That said, we also need to be mindful of stronger wage gains and signs of labour shortages in other parts of the economy. Monetary policy must be forward-looking. As you know from our latest outlook published a couple of weeks ago, the recent weakness in oil prices and softness in housing mean that we expect growth to slow temporarily. We expect the economic expansion to pick up again after this detour, in the second quarter of 2019. This should lead to a pickup in wage growth as well.

There are risks on both sides of this outlook, so we will continue to pay close attention to wages and to other developments that are driving our projection for inflation. This includes how oil prices, the Canadian housing market and global trade policy evolve.

Rest assured that the Bank of Canada will do its part to meet our inflation objective.

And as I've just discussed, businesses and governments can help build an even more vibrant job market by investing in education and training, encouraging labour mobility, and improving the competitiveness of Canadian companies.

I would like to thank Eric Santor, Rhys Mendes and Michael Francis for their help in preparing this speech.

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A Look Under the Hood of Canada's Job Market

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It is a pleasure to be here in Toronto today, and I'd like to thank the Toronto Region Board of Trade for the invitation. In many ways, 2019 has gotten off to a challenging start.

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Summary

In this video Pierre Cleroux, a VP researcher and Chief Economist talks about the economic growth for Canada in 2019. He talks about how Canada in 2019 will have a solid growth base on our exports and business investment. He says that our interest rate as of now is still pretty low, but he sees it growing in up in coming future. He also refers to our low unemployment rate of 5.5 percent and its low because of two reasons, economy is going strong and we have an aging population. He also states two trends that will happen in 2019. With our aging population its harder for youths who have no experience, immigrants, and people with a lot of experience to obtain jobs. The other trend is technology and how some companies are lacking as well as it opens up more room for growth with new jobs being needed.

Why I chose this video

I chose this video because the person speaking is the VP of research and Chief economist at BDC, hes is very knowledgeable person when it comes to this topic. From the begging of the video he had caught my attention and had me intrigued to hear what he was saying.

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Summary

In this video talks about if the low unemployment rate in Canada of 5.5 percent reflects on Canadas economy.  The reporter states that in even with Canadas low unemployment rate people in Alberta are still suffering to find a job. The premier of Alberta was in front of the house of commons pleading for the pipeline to be built so Albertans can keep busy and have more jobs.

Why I chose this video

I chose this video because it shows that even though Canada has a low unemployment rate people are still heavily affected and still without jobs. The 5.5 percent number looks good on paper but that’s the whole percentage for the country and there’s still that 5 percent of people without jobs trying to fight for a job in a crazy job market.

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Canada's unemployment rate is at an all time low: 5.6 per cent. But does that reflect the state of the countries economy? Kristen Fong has more on what the low unemployment rate really means.

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Is a low unemployment rate a reflection of Canada's Economy?

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Canada's unemployment rate is at an all time low: 5.6 per cent. But does that reflect the state of the countries economy? Kristen Fong has more on what the low unemployment rate really means.

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Summary
This video Goes over the increase of jobs in the previous years and the subsequent  decrease in the unemployment percentage. The video continued to then talk about the affects of this growth such as Lower wage growth which could slow down to be lower then inflation rates taking its toll on people as a whole. The video continued to ask if the increase to minimum wage may have been more harmful then helpful well saying its to soon to truly tell it does raise questions.
I chose this video because
I picked this video because it brings up some interesting points like how even though the Increase in employment is great but it has potential negatives such as lower wage growth which over time could lead to much larger negatives. The video also raise some interesting questions like if the minimum wage increase was beneficial or over all harmful to the Canadian economy

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Summary
Even though unemployment rates in Canada are at an all time low there are still alternatives to think about such as lower wage growth not meeting up to the standards of inflation and the other possible repercussions and effects on our economy.
Why I chose this picture
I chose this picture because it displays not only the unemployment rate of the more recent years but goes back as far as 2012.

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Summary

General motors announced that it will be closing down its plant in Oshawa, Ontario. This plant made Oshawa to be known as the “Detroit” of Canada. One of the biggest reasons for Oshawa’s growth as a city and employed a huge range of persons ranging from low class to high class. Since its announcement of its soon demise full time employees where offered a package to leave early but they’re still hiring part time workers consisting of students from near by colleges/Universities. The plant still employees around 6 thousand people but that will all come to an end in December 2019.

Why I chose this picture…

I chose this picture to represent unemployment as it has a huge impact on Canada's economy as well as local economy. GM stated that it has some jobs lined up for people at dealerships but that wont cover all of the 6 thousand employees soon to be out of a job. The lower class will soon rise in Oshawa as a big majority of persons working at GM came straight out of High school and have no post secondary education

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Summary
This Video takes a looks into the economic standing of Canada in 2018. it starts by stating the there idea on how the previous years were and the current economic position of Canada then shares their predictions for the 2018 year. They predicted there would be a growth of 2.2% and mentions a possible increase in interest rates as the economy improves. They proceed to say they believe that exporting goods and investing in business growth would be the right idea.
Why i chose this video
I chose this video because its talking about the economic standing of a previous year. it can be interesting or some times informative to take a look back at the previous state of things and in some case help you make predictions for the future state of things. It can also be interesting to see what they recommend back then and consider if it was the best option or if their predictions were off.

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Over all in our topic I found it most surprising that the unemployment rate in Canada is at an all time low but it also brings up concerns because of how quickly this came about. A real life example of how this topic is interesting and relevant to us would be the General motors plant shutting down because it shows a prime example of unemployment and reduction in total jobs as local are removed from circulation. If I could pass on knowledge to a family member or friends I would say the most important thing to pass on would be to always look at things both ways because nothing is ever one sided there is always a positive and a negative especially with the economy