Wait, Canada doesn’t have the strongest job market in the G7? Far from it, says OECD

Financial Post | Business

OTTAWA — Finance Minister Joe Oliver and his predecessor have been fond of trumpeting Canada’s economic and job creation performance since the recession, claiming it is unequalled among the Group of Seven large industrialized nations.

The minister made the boast again this week in a speech to employers in Halifax, noting that “our government has created over one million net new jobs … the strongest job growth over the recovery among G7 countries.”

But a recent report from the Paris-based OECD suggests that Canada’s employment record is not near the best.

According to 34-nation Organization for Economic Co-operation and Development, Canada would place fifth during the recovery period according to the percentage of the working age population that held a job at the end of 2013, compared to the situation prior to the 2008-09 recession.

Economists view the employment rate as a good barometer of overall strength in labour markets…

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