Globalization and the Canadian Labour Market

Paper Summary:

This paper discusses how the Canadian labour market is currently experiencing a perfect storm of circumstances that is creating an environment conducive to some of the best employment data in decades. The paper further discusses how analysts point out that the low unemployment figures, between 4 and 5 percent, have fuelled housing related spending as well as benefited from the high prices of natural commodities where those industries have greatly expanded operations over the last 5 years. Yet, in spite of such strong economic support for continued employment strength, analysts are also quick to note that continued inflationary pressures combined with global market related factors related to competitive labour practices are sure to affect an overall increase in unemployment figures over the next several years

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