Unemployment in Canada

With employment insurance and unemployment reaching a high in Toronto, there is no doubt that Ontario along with the rest of Canada, better yet the world, is taking a big hit from the recent recession. As of January 2010 there are almost 800,000 people receiving regular employment insurance benefits in Canada alone. As of June 4th, 2010, Canada's unemployment rate stands at 8.1%, with Ontario having a 8.9% rate. This comes as an improvement from the 9.4% that was calculated by Stats Can in April of 2009. In addition, 67,000 full time workers have been employed, only to see 43,000 part time positions lost. 54,000 students coming into this summer aged 20-24 have been employed bringing their employment rate up 3.1% to 59.2% compared to May 2009. Those seniors 55 years of age or older that are out of work may be thinking to themselves that they have no chance in competing for jobs with the new generation of young men chasing for jobs. The stats seem to tell a different story, as employment for men 55 years and over have seen a 5.0% increase in employment since July 2009. Although it seems that the Canadian economy seems to be recovering it still has some ways to go as 670,000 people in Ontario alone have lost their jobs since October of 2008. Here are a following of graphs representing the employment trends in the past couple years.






Although different countries give different employment results, Canada seems to be one of the early nations in the process of climbing out of the recession. Although it will still take some time for our economy to fully recover, we are seeing big improvements as seen in the statistics shown.