As wetalk about CANADA, unemployment rate has been fluctuating from 7% to 9% and nowat 5.8% 2000-2017. The unemployment rate in Canada dropped to5.9% in 2017 november from 6.3% in October and beneath market outlooks of 6.
2 %.Since February 2008 as economy created 80000 jobs, it is seen to be the lowest rateof unemployment. The unemployment Rate in Canada was detected to be 7.68 % from1966 until 2017 at average, reaching 13.10% which was the highest in December 1982 and of 2.9% in June 2000 which was recorded to be the lowest. In November, employment increasedfor women 55 and plus, for youngsters aged 15 – 24, and for men aged 25 – 54. Employmentalso took an increasing turn in Ontario, Columbia, Quebec and Prince EdwardIsland, while there was little change in the other cities.
Employment gains, wholesaleand retail trade, manufacturing, educational services, and construction were recordedin some goods and services producing industries. However, a decrease was measuredin agriculture sector. In November, rise in job provision was observed inprivate sector employees mainly compared to public sector employees.
Pakistan’s unemployment rate during2000-2016 was seen to be 6.01% with a minimum of 4.26% following 1994 and a maximum of 8.3% following 2003 at average.
Following an increasing labor force contribution rate from50% in 1999-2000 to 52.5% in 2006-2007 and 6% in 2014-2015, the ratio of populationto employment went upwards over the last ten years which started from 46.8percent in 1999-2000 – 60.4 percent in 2014-2015, especially forwomen, which highlighted the efforts made by Government in order to create moreemployment opportunities for everyone. Overall, men seem to benefit more from labormarket advances.
In 2012-2013, the share of men with a pay and salaried job wasat 41.2% which is almost double than that of females that is 21.6%, highlightinga situation in which the few wage and salaried jobs that are created tend to goin the hands of men rather than women. Approximately six out of ten employed peoplein Pakistan (61.6 %) in 2012-2013 were considered to be at risk of lackingdecent work. The large share of female vulnerability that is 78% needs specialattention. Also large share of youth vulnerability is a matter of concern whichhappens to be 60.9%.
Although young people are better skilled compared to adultlabor force, they unfortunately have to face similar labor market issues asadults. Moreover, a very low percentage of labor productivity has been seen inPakistan over the last decade. Furthermore, the relatively low growth in laborproductivity has not gone hand in hand with the rising labor force andemployment growth. This development suggests that many new labor marketentrants are taking working on low productivity and poorly paid salary.