Unemployment in Canada

As many countries are experiencing troubled economics, including high unemployment rates, Canada is still doing well for themselves through these times. Over the past 12 months, Canada’s unemployment rate rose up 1.2% giving us a total of 7.5% unemployment. Some of the main causes of unemployment are: frictional, seasonal, structural, cyclical and just not having enough job sources provided to employers. The most normal unemployment type is frictional and the most serious is structural. Right now I’m going to talk about seasonal and youth unemployment because it’s the type that could be associated with my age group. Seasonal unemployment is caused by economic slowdowns related to seasonal changes. Great examples of seasonal businesses are Canada’s Wonderland, Halloween costume stores or ski resorts. All three of these businesses are affected once their associated season changes. Most of the employees for these businesses tend to be youths. Youths look for jobs to make quick money for the summer of whatever it is, even if it’s seasonal. The downfall about working at seasonal places is once the seasons up, those employees are left unemployed increasing Canada’s rate. According to statistics for 2011, Canada’s youth unemployment rate was 15% which is not that great but in comparison to other countries such as Spain with 44% unemployment for youth, is very good.

Youths in Canada may complain about the difficulty in landing a solid part time job, but we should count our blessings that we have more job opportunities here then different parts of the world. The most beneficial thing about Canada is that they offer help and service support to youths to try and find jobs, such as YES (Youth Employment Strategy) and other routes that help youths land a job. Unemployment rates decrease as age increases. Youths are at the bottom of the list making that the most difficult time to get a job, but once they age, there are more job opportunities provided making it easier for adults to land a full time job.

Canada Takes The Lead

Economic prosperity is generally associated to the well being and successful social status and wealth of the economy, but economic prosperity is not only within the general economy, it also lies within companies and business throughout the world. Each company can either experience prosperity or opposite, bankruptcy. In today’s time, the economy isn’t at its highest point; many countries are facing serious debts and recession that could possibly lead to depressions. Thankfully, Canada is one of the countries that’s head is still high above water. We have made good economic decisions that have kept prosperity throughout our Canadian economy, so we hopefully don’t face what countries in Europe are experiencing.

Because many countries around the world are facing difficult times, it has a huge impact on not only family but also businesses. There are companies that have hit their lowest point because of these times but one very common company that has been around for 72 years and is the largest chain of hamburger fast food restaurants in the world; you guessed it, the one and only McDonalds is one company that has never seen the dark side. McDonalds is a prime example of a company who serve 64 million customers a day in 119 countries around the world, and experience continuous prosperity and growth. McDonalds has been able to manage their profits, continue to upgrade their menus, make smart decisions and leaves them right where they belong, on top. Success has never been a question for McDonalds and even through this slight rough patch, they are still able to maintain a successful and prosperous franchise.

McDonalds is a great example for other companies to look at, that just because the economy isn’t great now, doesn’t mean you can’t keep your business successful, just like Canada is a great example to other countries that we have been able to maintain a stable economy and fight our way through the gutter to still have economic prosperity.