Study
| EST. READ TIME 1 MIN.Focus on Real Wage Unemployment
One of the major economic developments in Canada during the 1980s has been the emergence of a significantly higher unemployment rate in Canada than in the United States. By the end of 1985 the rate in the United States had dropped to a bit over 7 percent, almost identical to the rate at the peak of the previous business cycle expansion in mid-1981. In Canada, on the other hand, the rate was about 10 percent, well above the 7 percent in the first half of 1981. This difference in the unemployment rate was the greatest divergence since the labour force survey was initiated four decades ago.
The purpose of this study is to analyze the factual evidence on economic growth since 1973, the 1981-82 recession, and high unemployment in Canada compared to the United States, compared with the longer-term experience in both countries.
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Donald Daly
Dr. Donald J. Daly is Professor of Economics in the Faculty of Administrative Studies, York University, Downsview, Ontario. He isa graduate of Queen's University, Kingston (B.Comm., B.A. and M.A.) and the University of Chicago (Ph.D. in economics). Dr. Daly worked for the federal government for more than twenty years before moving to York. He has presented papers in North America, Europe and Japan. His papers and books have covered such topics as tariffs and commercial policy; science policy; management; monetary, fiscal and exchange rate policy; and energy policy. He has acted as a consultant to federal government departments and agencies, the Government of Ontario, several royal commissions, and a number of Canada's leading business firms. His recent research has centred on the competitive position of Canadian manufacturing in world markets, and the role of government policy and corporate strategies in achieving improved performance. He has also studied similar developments in Japan.… Read more -
Donald MacCharles
Dr. Donald C. MacCharles is Professor of Economics in the Division of Social Sciences, University of New Brunswick, Saint John,New Brunswick. He holds a Ph.D. in economics from the University of Toronto, and is a Fellow of the Certified General Accountants' Association of Canada. He has management experience in finance and accounting with several Canadian manufacturing and banking firms. His research has focused on the role of international corporations in transferring technology, knowledge and management expertise to Canada, and the impact of this transfer on productivity. In publications, he has applied economic and accounting concepts to the areas of international trade and industrial policy with emphasis on decision-making processes in the public and private sectors.… Read more