Sunday, February 8, 2009

Historical Canadian Unemployment Rate

There's been a lot of talk recently about Canada's unemployment rate. It's now 7.2%. I've been following this for a while and I think it's a good idea to put this jump in the unemployment rate in perspective.

The graph below was generated using the statistics Canada data available on the Canadian economy website.

The Canadian economy website is incredibly useful. It gives you all the important economic trends including historical data. Trying to find all this stuff on the statistics Canada website is incredibly difficult. I'm glad they put it all in one place for you.

(Click on the image to make it larger)

Notice the overall trend in the unemployment rate. I can remember the unemployment rate being something like 10%. I'm very glad it's no longer that high. I'm also very glad that I happen to be in an industry where the unemployment rate is much, much less than even 6%. Those were bad times.

It looks like the an unemployment rate hasn't been this high since November 2004.

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