http://www.tradingeconomics.com/Economics/Unemployment-Rate.aspx?Symbol=CAD
Summary
So the Canadian employment rate increased by 0.2 percent and as a result, it ended up being 7.8%. During January's employment increase was evenly split between full time and part time to calculate employment rates. People who are currently working and people who are searching for jobs. In January, employments in business, building and other support services, all demanded more employees because they realized the high unemployment rate percentages.
As well as many other jobs were hiring such as public administration, transportation services, and food services. But back in December, that's when unemployment began to increase.
Connection
In chapter 15, Unemployment rate is indicated as one life indicator of the economy. Unemployment is one of the main economic causes of low quality of life. Reasons for unemployment would involved factors such as, frictional, seasonal, structeral, insurance induced or natural. In this case, the article discusses how there were losses in employment at the end of December and this probably due to seasonal factors where, winter has ended. This relates to the article because we live in Canada and isn't scary to hear that our unemployment rate is almost at 10%? Assuming this is accurate we can take the whole population of Canada which is approximately 32,000,000 and divide by 10%, as a result we end up with 3,200,000 people unemployed. All those people are either searching for jobs, gave up on searching, running on unemployment benefits, and just sitting at home doing nothing. In our class discussion, we discussed that you are not considered unemployed if you are a student, retired, or under the age to work.
Reflection
I know a few people in my family who are unemployed and gave up in searching for a job. Instead of looking for a job, they started a small business to generate revenue. I'm not saying you should start a small business if you can't find a job but, if you have nothing else to do, why not give it a shot? In the states you see people who are unemployed and try to take advantage of the unemployment benefits until they find a job. Referring back to the article, I'm curious what happen during December when there was losses of employees. Shouldn't December be the prime time to hire employees because of the holidays? However, article does not provide that information but assuming some sort of economic issued occurred during December such as, due to Decembers seasonality jobs, perhaps people were unemployed at the end of December. We're in March now which is only 2 months pass January and again, doesn't this 8% unemployment rate in Canada, scare us or affect our economy greatly? I know I seem over exaggerated about the unemployment rate but, referring to the quality of life indicators, France and Germany have the highest unemployment rate back in 2006 as well as, in other developing countries the unemployment rate is also high. We were the third highest in unemployment rate back in 2006 and now its 2011. 5 years after our unemployment rate has increased to two percent? Again, doesn't this scare us?
