Canada’s unemployment rate ticked up to 6.9 per cent in April, Statistics Canada said on Friday, matching the highest rate seen in eight years outside of the pandemic.
Canada’s unemployment rate ticked up to 6.9 per cent in April, Statistics Canada said on Friday, matching the highest rate seen in eight years outside of the pandemic.
https://www.bankofcanada.ca/wp-content/uploads/2019/01/swp2019-6.pdf
Heres a document from the BoC that outlines how QE causes wealth inequality in the short term, as asset prices rise. In the long term unemployment falls, and wages rise from greater wage pressure. So according to this study the created wage pressure reverses the wealth inequality caused by QE.
We did 4% population growth via mass immigration and allowed students to work 40 hours a week to forcefully decrease wage pressure, reversing the temporary labor shortage that existed before the Bank of Canada hiked rates, entrenching the short term asset inequality. Though as the Bank of Canada raised rates to cool the economy, and to bring down inflated asset values, we obviously now have a surplus of labor.