OECD About Canada
By Elli Davis, May 29, 2010
What a positive evaluation of Canada!!! I am talking about fresh predictions of the economic and employment situation in 2010 and 2011, recently released by the Organization for Economic Cooperation and Development.
The fact that Canada indeed seems to be doing great and is recovering faster than the rest of G7 states, made the organization reconsider its not-so-positive expectations from last November. Back then, OECD forecast that the Canadian economy will grow by 2 percent in 2010. This number has almost doubled now, as the organization predicts a 3.6 growth this year and 3.2 percent in 2011.
That should also boost employment in our country. The unemployment rate, according to the OECD, ought to decline to 7.9 percent this year, and to 7.2 percent next year. That is great news, since the employment situation has not been exactly amazing lately. I just hope employment in Toronto will get better too. Perhaps the new Mayor could change it, at least a little.