Why is unemployment rate of canada higher than UK?

Why is unemployment rate of canada higher than UK?

The effect of recession seems to be grimmer in UK than in Canada. Like so many bankruptcies and bail-outs news came out in the newspaper. Even Greece, Iceland, France, Germany etc were seemingly doing worse during recession than Canada. But then why the unemployment rate is worse in Canada than in UK?

mattermatics

no one really knows, that is the answer

betahat

Right now it's about 8% in Canada vs 7.8% in the UK so not too much of a difference.If you look back to summer 2008 when the crisis began,Canada had 6% unemployment and the UK had about 5.5%.So the unemployment rate in the UK still rose by more than in Canada, as you would expect given a deeper recession. This initial difference is then partly due to structural problems in certain parts of the Canadian economy - high unemployment in the maritimes has been a fact of life for some time, and the struggling US auto industry has hurt Ontario a bit.There are also differences in the way unemployment is measured across countries and in eligibility for unemployment insurance and other support programs that affect both measurement of unemployment and the effect of lower GDP growth on unemployment (the slope of."Okun's law" curve).But I do find it a bit surprising. You would have to do a deeper analysis to be certain, in particular, I would compare the change in GDP between summer 2008 and summer 2010 in both countries and compare it to the change in unemployment, if there is a difference in the slope of this relationship then I would want to explore further both the effects of measurement of unemployment, unemployment benefits in both countries, and differences across different regions and economic sectors.But

skbuoy

there is a lot of reasons..mainly because America is going through a recession and Canada believe it or not relies heavily in the USA.

Ask

insurance

Popular Q&A

Why is unemployment rate of canada higher than UK?
Right now it's about 8% in Canada vs 7.8% in the UK so not too much of a difference.If you look back to summer 2008 when the crisis began,Canada had 6% unemployment and the UK had about 5.5%.So the unemployment rate in the UK still rose by more than in Canada, as you would expect given a deeper...

Cheapest way to transport a car from Maryland to Texas?
Go to your local truck stop, and post an ad on their "Load board" Stating you need to move a car from Baltimore to Houston. If a flatbed driver sees your ad, he'd be willing to do it cheap if he's "Deadheading" back to Houston. You might also run an ad in your local paper, advertising for someone...

How many Liberty Mutual policy holders are in nj (residential not auto Policies)?
This is private information, and I'm sure Liberty Mutual will NOT give you a policy count.

How long does auto dealer in Arizona have to secure financing on a "spot delivery" purchase?
The "Spot Delivery Agreement" protects only the dealer. The form is like an insurance policy for the dealer who delivers a vehicle without having an actual credit approval. Dealers are typically very experienced in financing and would not deliver a vehicle unless they feel confident they...

Where can I get the lowest priced auto insurance in orange county California ?
Go to a broker, they deal with multiple companies and usually give you the best rate. I wouldn't go with the national carriers I am afraid,.. everytime I check their rates they are always way higher than what I'm paying now.Source(s):seems fair