The Graphic Truth: US/Canada economies (mostly) in sync

July 13, 2023

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Set of line charts comparing US to Canada unemployment rates and monthly job creation

Paige Fusco

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.

Serbian president name-checks Assad, vows not to flee amid protests

FREIBERG, GERMANY - DECEMBER 10: Serbian President Aleksandar Vucic and German Chancellor Olaf Scholz (not pictured) speak to the media following talks over lithium mining on December 10, 2024 in Freiberg, Germany. Germany and Serbia will be cooperating in the sustainable mining of lithium, a critical substance for the production of batteries for electric cars. A company called Zinnwald Lithium GmbH intends to mine up to 15,000 tons of lithium annually in the region of Saxony near Freiberg, enough to build one million electric car batteries. Serbia also has extensive lithium deposits.

(Photo by Sean Gallup - Pool/Getty Images) via Reuters

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Israeli Prime Minister Benjamin Netanyahu smiles as he prepares to testify in his trial on corruption charges at the district court in Tel Aviv on Dec. 10, 2024.

Menahem Kahana/Pool via Reuters

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Marine Tondelier, of Les Ecologistes party, talks to journalists next to colleagues as they leave a meeting at the Elysee Palace in Paris on Dec. 10. They had met with the French president as part of consultations aimed at appointing a new prime minister.

REUTERS/Stephanie Lecocq

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The Graphic Truth: US/Canada economies (mostly) in sync

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The Graphic Truth: US/Canada economies (mostly) in sync

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On Tuesday, France’s President Emmanuel Macron hosted a meeting with the leaders of center, center-right, and center-left political parties at the Elysee Palace in a bid to end France’s political crisis by building support for a new prime minister and a 2025 budget.