Canada's unemployment rate hits its lowest point in 30 years!

Summery: The latest unemployment figures indicate only 6.7% of people out of work. It hits the lowest point in thirty years! “We reached this low level of unemployment only once before, in June 2000.” Most of the new jobs created last month were full-time positions, and many of them going to women and people moving from part-time to full-time employment. The strength of the construction sector is one of the engines powering this growth in employment opportunities. More than 20000 jobs are added to the economy by construction sector. “With the search for the right talent only getting hotter, there is no better time to post your resume on Monster and take advantage of the boom.”

Connection: In chapter five, it talks about five types of unemployment, which are demand-deficient unemployment, frictional unemployment, seasonal unemployment, structural unemployment and real wage unemployment. A person is certified as unemployment when he is available and willing to work but currently without work. An unemployment rate of 6.7% means every 100 people have 6.7 people currently without work. This is quite low to the economy. Since economic tsunami is not yet over, 6.7% is an exciting number to Canada’s economy.

Reflection: Many people are laid off during the hardest time of the economy. Over 50000 jobs are created shocks me. But I don't think this number is really realest “last month”. Probably the article was written in June 2009. Indeed the number was still exciting to us. The latest unemployment rate now is 6%. From the changing we can see the economy is recovering. More and more people back to their position, or find a new one. But the inflation is extremely faster than the recovering. Soon the HST comes up will affect all of us. At this point, even though the unemployment rate decreases, nothing really changes to us.
Article: http://content.monster.ca/7216_en-CA_p1.asp