This video explains the relationship between economic growth and employment. According to this video, countries actively pursue economic growth to raise standards of living by creating more job opportunities and better jobs. It states that more labour will be needed as the economy grows to generate higher levels of output: more production, more labour. The opposite of that statement happens when the economy is in recession: less production, less labour. A recession, therefore, increases the rate of unemployment. Therefore, this video explains that economic growth and employment are positively related – one factor directly affects the other.

I chose this video because it summarizes the relationship between economic growth and employment. One piece of information that I found useful in this video is that the pace of the creation of jobs depends on which industry is driving the economic growth of the country.

- The economy will experience a 2% decrease in RGDP output per 1% increase in cyclical unemployment.

- The economy will experience a 2% increase in RGDP output per 1% decrease in cyclical unemployment.

I chose this video because it gives a summary of Okun’s law. It explains how unemployment can negatively impact the economy. One piece of information that I found useful in this video is that Okun’s law only applies when an economy is experiencing an increase or decrease in cyclical unemployment.

I chose this article because it explains how prolonged unemployment can negatively impact not only the economy, but also the country, individuals, and society. One important piece of information that I found useful in this article is that it is not always a good idea for people to withdraw money early from their retirement accounts, since they will be hit with penalty tax. It is better for people to take out a loan from their retirement accounts to avoid being hit with penalty taxes.

I chose this article because it shows how Canada’s economy performed before and during the pandemic. One important piece of information that I found useful in this article is that Canada has now more job openings than workers willing to do them. I also found it ironic that Canada’s unemployment rate decreased during instead of before the pandemic.

I chose this website because it shows how organizations such as the ILO can help countries improve their employment rates. In this article, I learned that economic growth will not always lead to more and better jobs.

I chose this article because it shows Canada performs compared with other countries and how provinces perform compared with one another. Through this article, I learned that an economy whose job prospects are improving can lead discouraged workers to re-enter the labor force.