The unemployment rate in Canada has traditionally been higher than in Europe or the US for a number of reasons.
In addition, our policy of mass immigration has caused a labour glut for most of the past 40 years. And increasingly, it is becoming more difficult to describe exactly what “unemployment” actually is.
Several statistical methods of calculation are available in the US which put the current rates at 6%, the most commonly chosen method, up to as high as 20% using perhaps a more comprehensive measure. Statistics Canada puts our effective unemployment rate at 11% when labour force dropouts are included.
Despite the increasing unaffordability of housing, the continued loss of high-quality jobs offshore and the loss of real wages to inflation, the government continues to boost immigration to record levels to keep the growth Ponzi scheme expanding. At the behest of developers, speculators and cheap labour employers immigration is now at all-time record highs.
These neglectful policies only lead to higher levels of structural unemployment and under-employment. Immigration policy should be tailored to current realities and realistic prospects rather than anchored to the fantasy of growth forever which dominated our country 100 years ago.
High rates of un- and under-employment and misemployment create long-term social and economic problems and contribute heavily to structural deficits. A low growth, high-quality employment strategy would make the best use of our most valuable resource (people) and lower the rate of unemployment while increasing the level of productivity, salaries and wages.