Free Lunch by The Peak
Unpacking Canada's Confusing Job Market
Sep 19, 2023
Senior Economist Brendon Bernard discusses Canada's job market, highlighting low unemployment rates, wage increases, and population growth challenges. The podcast delves into the complexities of tracking job market data, real wages, labor productivity, Alberta's economic struggles, and the future of the energy sector.
56:31
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Quick takeaways
- Despite low unemployment and rising wages, Canada's job market faces challenges due to rapid population growth.
- Certain sectors like manufacturing and construction are weak, while professional services show mixed job growth trends.
Deep dives
Overview of the Canadian Job Market
Canada's job market presents a complex picture with contrasting trends. While unemployment remains low and wages are increasing, the rapid population growth poses challenges. Despite adding 40,000 new jobs in August, the surge in population outpaces job creation, leading to job vacancies dwindling and lower wage growth compared to the US.
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