Canada’s jobless rate could climb to 9.1% by 2021
The Canadian unemployment rate will likely rise to 9% by the end of 2021, according to the Bank of Canada.
That’s the highest rate in the OECD, and well above the 10% mark that many economists have predicted.
Here’s a look at the reasons for the outlook and the outlooks for Canada’s other big economies.
Canada’s labour market is strong.
While the economy was slow to recover from the 2008-09 global financial crisis, the Canadian economy has shown steady growth over the past year.
This year, the country’s labour force added 1.7 million people, an increase of more than 1% on last year.
The unemployment rate is still 6.3%, lower than the OECD average of 7.9%, and well below the 9.2% rate that many experts have predicted will come around by the middle of 2021.
Canada is still a high-income country.
Canada ranked 13th in the Organization for Economic Cooperation and Development (OECD) in terms of GDP per capita in 2019, but that number dropped to 19th in 2021.
This is a result of rising labour costs in Canada, which is partly why people have stopped looking for work.
The number of full-time jobs has also fallen in Canada since the beginning of the year, and it remains well below what the OECD considers the minimum wage needed to support a family of four.
Inflation in Canada also fell, falling to 2.1%, and the Canadian dollar fell in 2018.
The Canadian economy is diversified.
The Bank of America Merrill Lynch Global Economic Outlook forecasts that the Canadian labour force will grow by 1.3% in 2021, and that the labour force participation rate will grow to 72.1%.
This means that the overall economy will grow faster than the rest of the OECD in 2021 because people who are not working will stay home and contribute more.
The labour force is the pool of people who participate in the labour market.
As a result, Canada’s overall labour market remains resilient.
Canada has a stable economy.
The growth rate in Canada’s economy in 2019 was the fastest among OECD countries, at 2.3%.
The Bank also forecasts that labour force growth will continue to grow in 2020 and 2021, but will be slower than expected.
The current forecast for labour force expansion in 2020 is a little better than that forecast from last year, when it was 2.4%.
The economy is expected to be fully diversified over the next three years.
Canada remains the best place to work in the world.
In 2018, Canada ranked 11th among OECD economies for overall employment and 11th for overall gross domestic product per capita.
In 2019, Canada was tied for the number one spot, with the US and the US-based EU making up the top five.
Canada ranks 10th in overall gross national income per capita, and 12th in nominal gross national product per person.
Canada also has a relatively high level of private investment.
Canada had a net positive return on capital in 2018, with net capital investment coming in at 14.2%.
That’s well above most other OECD countries.
Canada can afford to grow more.
In the 2017-18 financial year, Canada averaged 7.1 new business start-ups per year, according the OECD.
This number has remained fairly stable over the last year due to the strong economic growth in the country.
In 2020, the number of new businesses started by Canadians has reached 15.4 per cent, up from 14.1 per cent in 2019.
Canada does not have a significant negative trade balance.
In 2017-2018, Canada had the second-highest trade balance among OECD members with an annual trade surplus of $1.6 trillion.
In 2021-22, Canada will be one of the top two countries in the G7, which means that it will have the second largest trade surplus in the global economy.
Canada will also have the third-highest annual trade deficit with the United States, at $4.2 trillion.
Canada still has a large number of small businesses.
According to the OECD’s latest estimates, Canada has around 1.5 million small businesses, a number that is expected be much higher in 2021-23.
According the Bank’s forecast, Canada is likely to have around 1 million small business start ups by 2021.
The average size of small business is about 500 people.
The vast majority of these businesses are in the manufacturing and construction sectors.
The large number and high growth of small firms are important for Canada, because small businesses provide more job opportunities than larger businesses.
Canada was a net exporter in the 2017 fiscal year.
It had a trade surplus with the rest the OECD at $1 trillion, which was nearly double the $1 billion net surplus that the OECD estimated in 2021 as a result.
This was partly due to Canada’s large number,