Economic growth of Canada has hit its slow point where alleviating Canada’s unemployment rate seems to be a far fetched idea. Youth unemployment is 14.8% which is double of Canada’s overall percentage. In addition 181,000 jobs has been added in the past year of manufacturing and natural resources industry, thus have downsides because with slow growth these industries can cut their numbers of employments anytime economic growth lags. Furthermore, Canada’s top export market, America, also has a slow economic growth and this also causes problems considering the majority of Canada’s GDP comes from exporting goods, and especially to America who is Canada’s top customer since both countries are interdependent on each other with their free trade agreement. Another tactic that was imposed was having the Bank of Canada lower their interest rates so that businesses are more open to invest and hire. It can be seen as to why Canada would imposed this on the Bank of Canada since lowering the interest rate can be a temporary downside however this sacrifice serves society-interest. Positively, companies that plan to hire are those in the energy industry of Canada’s economy where direct and indirect jobs are being offered, this isn’t an enormous change but alleviating the unemployment rate is still possible.

http://www.theglobeandmail.com/report-on-business/economy/jobs/for-young-job-seekers-no-relief-in-sight/article4464246/