Canada-U.S. unemployment rates. Why is Canada's so high?
Title: Canada-U.S. unemployment rates. Why is Canada's so high?
Category: /Business & Economy/Economics
Details: Words: 3173 | Pages: 12 (approximately 235 words/page)
Canada-U.S. unemployment rates. Why is Canada's so high?
Category: /Business & Economy/Economics
Details: Words: 3173 | Pages: 12 (approximately 235 words/page)
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For decades prior to the 1981-82 recession, the national unemployment rates of Canada and the United States had been nearly identical. Since then, a persistent 'unemployment rate gap' has emerged. Throughout most of the 1980s, Canada's unemployment rate has consistently been about 2 percentage points higher than in the United States. The gap developed in spite of very similar economic performances across the two countries:
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In fact, there is substantial evidence that their economy is booming, proving that it is possible to have a fruitful society with lower government subsidies. It is not until there is a cut back in these programs, that the Canadian unemployment rate will drop. Any change, calls for significant measures, with real impacts on peoples' lives. However, until this happens, the unemployment rate gap between Canada and the U.S. will remain present and lasting.