Job losses when inflation fell by 5.7% points (from 7.7% to 2%)
The Bank of Canada wants to reduce inflation from 7.7% to 2%. The only three times this happened in Canada, the average job losses were severe.
Job losses is estimated using the average employment rate fall from the previous episodes adjusted for today's working age population
David Macdonald - Canadian Centre for Policy Alternatives
Source:Statistics Canada 10-10-0139-01, 18-10-0004-01, 36-10-0104-01, 14-10-0287-01,
Historical Labour Force Statistics Catalogue 71-201 and author’s calculationsGet the data