This research is being carried out to evaluate and present Canada unemployment rate from 1950-2014 by such age groups as 15-24; 25-44; 45-64; 65-69. This essay also explores the unemployment rate by gender and geographical region…
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It is evidently clear from the discussion that the level of unemployment over the years has been higher among female than a male from 1950 to 1984. Between 1985 and 2014, the unemployment rate for men has been higher than for women. During the period between 1984 and 1995, the unemployment rates for female fell dramatically perhaps due to the wave of feminism that hit Canada and other parts of the world during that period. More women were able to secure employment with the introduction of equality in the labor markets. The employment rate for women increased during this period. From the data, Newfound-land & Labrador has had the highest levels of unemployment rates among the geographical regions in Canada. On the other hand, Alberta and Saskatchewan have had the lowest unemployment rates among the regions. These statistics are influenced by the demographic characteristics of the regions. It is evident from the above data that the unemployment rate influences the inflation rate in the economy. The unemployment rate for Canada was 3.8% in the period between 1950 and 1954. At this same period, the inflation rate was highest at 3%. On the other hand, the level of unemployment was highest in the period between 1990 and 1994. At this same period, the inflation rate was lowest, at 1.1%. This curve indicates that changes in unemployment levels directly affect the inflation rate. The curve is downward sloping showing that inflation rate reduces as unemployment rates increase from 1950-1990. In the period between 1990 and 2009, the unemployment rate reduces from 10.8% to 6.6%. This directly affects the inflation rate, which increases from 1.1% to 1.6%. The level of Government spending generates economic growth. As such, unemployment rates fall as firms compete for workers by raising nominal wages. Wage costs for firms rise because workers have more bargaining power in seeking nominal wage increases. Firms react to the increases in wage costs by increasing the prices of goods and services.
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