New Restrictions Set Back Recovery Once Again: Canada’s Two-Year Household Income and Employment Outlook

Name: New Restrictions Set Back Recovery Once Again: Canada’s Two-Year Household Income and Employment Outlook
SKU: 11550-0405-WEB
Availability: InStock

Canadian Economics

March 23, 2022

Business and Household Indicators Canadian Economic Analysis

Pages:14 pages23 min read

Author: The Conference Board of Canada

$225.00

This quarterly economic forecast presents the medium-term outlook for the Canadian economy. This release focuses on household income and employment. For an overview of all major components of the economy, go to the Canadian Outlook main page. Sustained employment growth in the second half of 2021 brought the Canadian economy close to full employment. The rapid spread of the Omicron variant and ensuing restrictions will set the labour market back in the early part of 2022 with a loss of jobs and hours. Further ahead, as the baby-boomer cohort continues to exit the workforce, declining participation rates will maintain pressure on the labour supply, keeping the unemployment rate low throughout the forecast period.

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Document Highlights

Sustained employment growth in the second half of 2021 brought the Canadian economy close to full employment.

The rapid spread of the Omicron variant and ensuing restrictions will set the labour market back in the early part of 2022 with a loss of jobs and hours.

Further ahead, as the baby-boomer cohort continues to exit the workforce, declining participation rates will maintain pressure on the labour supply, keeping the unemployment rate low throughout the forecast period.