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?

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.

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

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