NAFTA - Analysis of Unemployment since NAFTASave this online in Del.icio.us. [?] Vote For this Post
My "NAFTA's Effects on Canadians" series continues with a look at the figures/data/statistics on unemployment since NAFTA.
The Unemployment Rate is a measure of joblessness amongst the population willing, able, and actively searching for work (unemployed in the labour force divided by the total labour force). These three criteria – willingness, ability, and desire – are essential to the determination of the labour force. Thus it is obvious that the Unemployment Rate is inextricably linked to Labour Productivity, which measures the effectiveness of our labour resources in producing goods and services.
The statistics here are complex and apparently contradictory. Since the implementation of NAFTA, unemployment has decreased over a majority of years, including 1994, and ending 2005 at 6.6%, another positive decrease. In 1992 and 1993, the data remained stable at just over 11%. On the other hand, the data on Labour Productivity is in a continual state of flux, following no noticeable long-term trends. Thus in 1994, Labour Productivity was relatively high at a rating of 3.0. In the next two years it dropped a total of 2.5 points, before rebounding to a 2.0. Rating. The remainder of the term since NAFTA’s implementation shows similar data.
Previous articles on the impact of NAFTA:
Canadian national and Canadian Household Savings Rates
Canada's GDP and GDP per Capita
Impact of NAFTA: Introduction to the Research
What NAFTA means for CAFTA
Categories: economics, Canadian politics, unemployment, NAFTA