Munk Senior Fellow Philip Cross speaks to CBC’s On the Money (start at 14:00) on how unemployment numbers can be a misleading indicator of the economy.
Canada’s economy has not been growing very rapidly. Yet, as Cross notes “if you look at the unemployment numbers – as every politician is ready to remind you – they are at their lowest level in a generation.”
This has created a disconnect between the economy and the unemployment rate. After all, people who at the look at the economy “don’t feel like this is the best economy we’ve been a part of in a generation.”
Philip Cross in the author of the recent MLI paper “The Truth About the Unemployment Rate.”