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Analysis by Oxford Economics estimated that 25% tariffs implemented across all sectors and predicted retaliatory tariffs would cause Canada's GDP to fall by 2.5% by early 2026, increase its inflation rate to 7.2% by mid-2025, and increase its unemployment rate to 7.9% by the end of 2025 due to an estimated 150,000 layoffs. [32]
The COVID-19 pandemic had a deep impact on the Canadian economy, leading it into a recession. The government's social distancing rules had the effect of limiting economic activity in the country. Companies started mass layoffs of workers, and Canada's unemployment rate was 13.5 percent in May 2020, the highest it has been since 1976. [1]
At the height of the 2008–2009 recession in Canada, unemployment peaked at 8.3 percent. [38] The subprime mortgage crisis and the 2007–2009 which followed, increased the unemployment rate to a peak of 10% in October 2009. Since then, the unemployment rate has been steadily falling. It reached 5% in December 2015.
Canada added 418,500 jobs in July, mostly in the part-time sector, and the unemployment rate fell to 10.9% as the economy continued to reopen, Statistics Canada said on Friday. Analysts in a ...
The general pattern of development for wealthy nations was a transition from a raw material production-based economy to a manufacturing-based economy and then to a service-based economy. At its World War II peak in 1944, Canada's manufacturing sector accounted for 29% of GDP, [ 111 ] declining to 10.37% in 2017. [ 102 ]
October 2010 Canadian unemployment rate: 7.9% [23] November 2010 Canadian unemployment rate: 7.6% [ 26 ] The employment rate has been stabilized between 8.0% and 11.0% for the past two years; signifying the economic strength of Canada's financial institutions compared to its counterparts in the United States.
The list of Canadian provinces by unemployment rate are statistics that directly refer to the nation's seasonally adjusted unemployment rate. Below is a comparison of the seasonally adjusted unemployment rates by province/territory, sortable by name or unemployment rate. Data provided by Statistics Canada's Labour Force Survey. [1]
The country’s total fertility rate, the average number of babies a woman will have over her lifetime, dropped to a record low of 1.09 last year from 1.30 just two years before, according to a ...