Canada’s economic recovery is proving to be weak
Unsettling news was just released regarding the unemployment rates in Canada, and that is that for the month of December 2013, Canada lost 49,500 jobs. Unemployment rose “unexpectedly from a five-year low” in December, ending what is said to be “the worst year for employment growth since 2009”.
What are the reasons for the high unemployment rates? Big cities are finding an increase in the flow of immigrants and young people seeking work. The question at hand is are these unemployment rates reflective of the lack of skills or just the reality of the economy we are currently in? According to Principle Economist at the Conference Board of Canada Alan Arcand, what happens in Canada’s economy is directly reflective of what is happening the American economy. Currently, the United Sates economic “recovery” has been quite weak, which is predicted to hold a negative impact on the immediate future of Canada’s employment rates. The reasoning for this, according to Arcand, is a combination of factors, whether in relation to local property taxes, economic promotion activities, or development policies. Nonetheless, the United States’ economy holds significant impact on Canada’s economy.