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blog post
Canada, Community, Labour Market

Low Unemployment Rate

Did you know that low unemployment can be bad for the economy?

In a recent durhamregion.com article, Heather McMillan, Executive Director of the Durham Workforce Authority states why.

The Oshawa Census Metropolitan Area (CMA) – including Oshawa, Whitby and Clarington – is at a low unemployment rate of 4.9% for the general population. The youth rate is at 11.9%.

The typical rate of unemployment for this area is 6%.

At 6%, employers are able to find workers and workers move through the labour force.

At a low unemployment rate, the labour market tightens. Employers site difficulty in finding workers and specific skill sets.

This may result in increasing wages to attract workers which leads to wage inflation.

Read the durhamregion.com article “Zero unemployment is a bad thing”.

 

Read Employment E-News – June 2018 – A Great Time to Look for Work

Image provided by www.1COMMUNITY1

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About Durham Region Unemployed Help Centre

Whether you're looking for a job, or wanting to hire new skilled job ready employees , the Durham Region Unemployed Help Centre can help. Locations in Pickering and Oshawa, Ontario, Canada.

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