A Spotlight on the Labour Market: An Uneven Recovery

Nov 23, 2020 | Dawn Desjardins


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the economic pulse


RBC’s New Canadian Monthly Macroeconomic Series


In the second edition of The Economic Pulse, Dawn Desjardins, RBC’s Deputy Chief Economist takes a closer look at the fragmented recovery of the Canadian labour market and provides her outlook as Canada enters the second wave of the COVID-19 pandemic.


 

Key Takeaways

1

The rebound in job creation continues, but unsurprisingly is uneven – the hospitality, retail, and travel industries, where social distancing is challenging, continue to experience job losses.

2

Specific groups of the population have experienced a slower labour market recovery – this includes lower wage workers, new graduates and women.

3

While the recovery of the US labour market continued into October – it was not as strong as the underlying economic recovery.

Read our latest report, Canadian Women Continue to Exit the Labour Force, for a look into the growing divergence between Canadian men and women in the labour force

As Deputy Chief Economist, Dawn contributes to the macroeconomic and interest rate forecasts for Canada and the U.S. Before joining RBC, Dawn worked as a reporter for Bloomberg Financial News in Toronto covering the Canadian bond and currency markets. She also spent ten years as the Canadian bond market strategist for a major U.S. bank.

This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.

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Economy