Comparative Analysis of Unemployment Trends in China and Canada

This report presents a comparative analysis of unemployment trends in China and Canada. It begins by examining the unemployment rate in China over a five-year period, highlighting the impact of technological advancements and government policies. The report then compares China's unemployment rate with Canada's, noting the differences and discussing the factors contributing to these variations, such as GDP growth and economic development strategies. Finally, it identifies and analyzes the sources of unemployment, including cyclical, frictional, and structural factors, providing examples from both countries. The report references data from the World Bank and the International Labour Organisation, providing a comprehensive overview of the topic.

GROUP REPORT

TABLE OF CONTENT
Question 1........................................................................................................................................1
Five year trend and unemployment rate of China .......................................................................1
Question 2........................................................................................................................................1
Comparative analysis of unemployment rate of China and Canada ...........................................1
Question 3........................................................................................................................................1
Source of unemployment.............................................................................................................1
REFERENCES................................................................................................................................2

Question 1
Five year trend and unemployment rate of China
According to the World Bank Statistics the unemployment rate of China is 4.4% of total
labour force (International Labour organisation, ILOSTAT database. Unemployment, total (% of
total labor force) (Modelled ILO estimate China), 2019). In the last 5 years the unemployment
rate in China has remained nearly constant. There has been insignificant differences in the
unemployment percentage. However it is assumed that vast technological changes, job losses in
various industries including manufacturing have affected the rates. Thus it is assumed that
several factors are not taken into account which could have otherwise brought considerable
changes in unemployment trends. The government campaigns to increase GDP has also one of
the factor which has contributed in constant unemployment rate without increment in the last 5
years.
Question 2
Comparative analysis of unemployment rate of China and Canada
As compare to the China, unemployment rates are much higher in Canada. In 2018 the
unemployment in Canada was 5.9%. If 5 year trends are observed in Canada then it is identified
that the country has improved its unemployment rate from the last year. However prior to 2018
Canada has every higher rates of unemployment in comparison to China. The GDP and growth
opportunities in Canada are proving to be more effective than China's population control based
economic development which is the main reason for this difference in unemployment rate
(Canadian unemployment rate nears four decade low; story in Alberta not as rosy, 2019).
Question 3
Source of unemployment
Higher unemployment rates are result of several variety of reasons. For instance cyclical
unemployment is caused due to economic crisis as observed in 5 year trend of Canada. Another
source is frictional unemployment which takes place as result of excessive time taken by workers
to find new jobs while structural unemployment occurs when there is demand of specific type of
workers. For instance in China technological advancements has caused huge laid off's
contributing to unemployment.
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REFERENCES
Books and Journals
Canadian unemployment rate nears four decade low; story in Alberta not as rosy. 2019. Online.
Accessed through <https://calgaryherald.com/news/national/canadian-unemployment-
rate-nears-four-decade-low-story-in-alberta-not-as-rosy>
International Labour organisation, ILOSTAT database. Unemployment, total (% of total labor
force) (Modelled ILO estimate China). 2019 Online. Accessed through
<https://data.worldbank.org/indicator/SL.UEM.TOTL.ZS?locations=CN>
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