Article source: ConstructConnect
The following are economic ‘nuggets’ gleaned from the latest
public and private sector data releases.
(1) Exceptionally Low Unemployment Rates, U.S. and Canada
Rightfully so, a big fuss is being made over how low the current (December 2019) U.S. unemployment rate is, at just 3.5%. The 3.5% level is a seasonally adjusted (SA) figure. On a not seasonally adjusted (NSA) basis, the U.S. jobless rate is even lower, at a mere 3.4%. What is being overlooked, however, is Canada’s remarkable performance on this front as well. The Canadian unemployment rate, when it is calculated according to the same methodology as in the U.S., is also minuscule. At just 4.2%, it’s less than a percentage point above America’s figure. (The name adopted by Statistics Canada for its NSA U.S.-equivalent unemployment rate is ‘R3’.)
