July 13, 2023
The US and Canadian economies are so closely intertwined that they mostly experience comparable labor and employment trends at a given time. Still, there are some key differences.
Both economies saw a solid rise in unemployment in 2008 amid the Great Recession. And though the American workforce was harder hit, it was able to recover and boost its labor participation rate faster due to the resilience and breadth of the US economy.
Now, in the post-COVID era, the two economies are experiencing strong rebounds and tight labor markets, adding a solid number of new jobs each month despite hiking interest rates to rein in inflation. Still, though the US labor force is way larger, last month’s labor numbers show that Canada added more jobs relative to its population size . We see how the two have stacked up since 2000.
More For You
On the GZERO World Podcast, Ian Bremmer sits down with Harvard economist and former IMF Deputy Managing Director Gita Gopinath to unpack how the conflict is rippling through the global economy. As oil and gas prices surge, inflation is climbing, adding new costs for households and businesses and putting pressure on growth worldwide.
Most Popular
Think you know what's going on around the world? Here's your chance to prove it.
The revenue generated by Russia’s main oil tax in April amid the Iran war, per Reuters calculations. The amount is double last month’s revenue, and up by 10% from this time last year.
Natalie Johnson
The Iran war has pushed Brent crude prices to $100 per barrel, up from around $70 before the conflict began.
For sixteen years, Prime Minister Viktor Orban has won every fight: four consecutive parliamentary supermajorities for his party, Fidesz; a constitution rewritten to his specifications; courts, media, and oligarchs brought to heel.
© 2025 GZERO Media. All Rights Reserved | A Eurasia Group media company.