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Welcome to my wall. Here you're going to learn about economic growth, unemployment, and how unemployment affects economic growth

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In Canada, we count anyone holding a part-time minimum wage job as employed. But are laid-off engineers really employed when they are making $20,000 a year, either part-time or self-employed, when they were previously making $90,000? Should jobs paying below the poverty line be counted as real jobs?

Why is unemployment a problem? It is actually a simplified term for a very complex issue. Types of unemployment can include underemployment, misemployment, self-employment, seasonal employment, retraining, and unpaid mandatory vacations.

High rates of unemployment and underemployment create long-term social and economic problems, compromising our social safety net and all levels of government.

in Canada's unemployment rate Canada has traditionally been higher than in Europe or the US for a number of reasons:

We have a higher proportion of seasonal industries

We have had a higher proportion of our population in smaller, more isolated communities, making jobs harder to match up with potential workers

Mass immigration has caused a surplus of workers

To address the problem of unemployment, the government focus has been to grow the economy at any cost, assuming that growth will cure everything. Yet it hasn't. Not recently and not for 40 years.

As part of this growth strategy, the government has used mass immigration to supply endless cheap labour to employers like Tim Hortons, where labour costs account for between 25% and 40% of total expenses.

Yet there is something very wrong with this business model. Workers who make minimum wage cannot afford the basic costs of living; they rely on the social safety net of government assistance programs. Essentially that means that Canadian taxpayers are subsidizing this system, to the tune of about $4 per hour for every minimum wage job.

Less growth, higher employment

The unemployment issue should be dealt with by creating high-paying and productive jobs with low turnover. Then Canadians could live well, in an equalized society with a strong social safety net and balanced government finances.

There is no shortage of workers when a decent wage is involved. The shortage occurs when the company or the business model needs cheap labour in order to function. We don't need more immigrants; we need more investment in our one natural resource which is under-developed: the Canadian people.

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In Canada, we count anyone holding a part-time minimum wage job as employed. But are laid-off engineers really employed when they are making $20,000 a year, either part-time or self-employed, when they were previously making $90,000? Should jobs paying below the poverty line be counted as real jobs?

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This video explains the 4 major categories of unemployment; structural, seasonal, frictional, and cyclical. structural unemployment occurs due to changes in the company's technology and workers not having enough skills to meet up. seasonal unemployment occurs during seasons. frictional unemployment happens when one is out of a job and looking for a new one. It is classified as healthy unemployment. cyclical unemployment occurs when there is a recession in a business.

I chose this video because it is very enlightening and informative.

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Types of Unemployment: Frictional, Structural, Cyclical, and Seasonal

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this video helps you understand economic growth and how growth occurs. how unemployment affects economic growth.
I chose this video because I came across it and i felt it was very informative and educational

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Understanding economic growth | AP Macroeconomics | Khan Academy

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1. What did you learn about your topic that surprised you the most?
I learned about the causes of unemployment and how it affects economic growth.
2. Provide a real-life example of how this topic is relevant or interesting for you.
this topic is relevant to me because it has helped me understand why it was hard for me to get a part-time job two years ago.
3. If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?
I would pass on that learning a profitable skill is going to help if one can't find a job due to the economy.

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this image emphasizes on how economic growth works. I chose this image because of its simplicity.

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Canada GDP Growth Rate - 2022 Data - 2023 Forecast - 1961-2021 Historical - Calendar

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The Canadian economy expanded 0.7% on quarter in Q3 2022, a fifth consecutive quarter of growth, and following a 0.8% increase in Q2. Growth in exports, non-residential structures, and business investment in inventories were moderated by declines in housing investment and household spending. Exports increased 2.1%, led by crude oil and bitumen, and farm and fishing products.

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Website #3- How does minimum wage affect unemployment

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Website #3- How does minimum wage affect unemployment

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The Minimum Wage, Lost Jobs, And Poverty in Canada

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Raising minimum wages is usually done in an attempt to help low-income households. However, extensive research shows higher minimum wages rarely provide a boost to the intended households, and often hurt the very people they intend to help.

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Two Minute Explainer: Does Increasing the Minimum Wage Increase Unemployment?

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Image #2- Causes, effects and solution of unemployment

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Image #2- Causes, effects and solution of unemployment

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Bank of Canada says economic slowdown expected, unemployment not as high as past recessions | FULL

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The Employment Insurance (EI) program provides temporary income support to unemployed workers while they look for employment or to upgrade their skills. The EI program also provides special benefits to workers who take time off work due to specific life events:

illness

pregnancy

caring for a newborn or newly adopted child

caring for a critically ill or injured person

caring for a family member who is seriously ill with a significant risk of death

Workers receive EI benefits only if they have paid premiums in the past year and meet qualifying and entitlement conditions. Self-employed workers may participate in EI and receive special benefits.

The Digest of Entitlement Principles

The Digest of Benefit Entitlement Principles contains the principles applied by the Employment Insurance Commission when providing information and guidance on legislative and regulatory requirements. These principles are also applied when making decisions on claims for EI benefits under the Employment Insurance Act and its regulations.

Canada Employment Insurance Commission (CEIC)

The Canada Employment Insurance Commission plays a leadership role in overseeing the EI program. The CEIC is also responsible for setting the annual EI premium rate. Service Canada's role is:

to provide timely and accurate EI benefit payments and services

to support EI clients through each stage of the service delivery process by:

providing benefit information

responding to enquiries

assisting employers

processing claims and providing the means to appeal decisions

conducting client authentication and identification, and

preventing, detecting and deterring fraud and abuse

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Employment and Social Development Canada