Benchmarks for assessing labour market health: 2024 update
We assess the health of the Canadian labour market. We find that it has seen gradual but material easing since 2023, amid some signs of structural changes.
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4
result(s)
Benchmarks for assessing labour market health: 2023 update
Staff analytical note 2023-7
Erik Ens,
Kurt See,
Corinne Luu
We enhance benchmarks for assessing strength in the Canadian labour market. We find the labour market remains tight despite recent strong increases in labour supply, including among prime-working-age women. We also assess the anticipated easing in labour conditions in a context of high population growth.
Content Type(s):
Staff research,
Staff analytical notes
JEL Code(s):
E,
E2,
E24,
J,
J2,
J21,
J6
Research Theme(s):
Monetary policy,
Real economy and forecasting,
Structural challenges,
Demographics and labour supply
Benchmarks for assessing labour market health
Staff analytical note 2022-2
Erik Ens,
Corinne Luu,
Kurt See,
Shu Lin Wee
We propose a range of benchmarks for assessing labour market strength for monetary policy. This work builds on a previous framework that considers how diverse and segmented the labour market is. We apply these benchmarks to the Canadian labour market and find that it has more than recovered from the COVID-19 shock.
Content Type(s):
Staff research,
Staff analytical notes
JEL Code(s):
E,
E2,
E24,
J,
J2,
J21,
J6
Research Theme(s):
Monetary policy,
Real economy and forecasting,
Structural challenges,
Demographics and labour supply
Exploring the potential benefits of inflation overshooting
Staff analytical note 2021-16
Robert Amano,
Marc-André Gosselin,
Kurt See
After a period with the interest rate at the effective lower bound, temporarily overshooting inflation may offer important economic benefits. This may be especially true for vulnerable segments of the population, such as workers with low attachment to the labour force and the long-term unemployed.
Content Type(s):
Staff research,
Staff analytical notes
JEL Code(s):
E,
E3,
E31,
E5,
E52,
J,
J2,
J20
Research Theme(s):
Monetary policy,
Inflation dynamics and pressures,
Monetary policy framework and transmission,
Real economy and forecasting