Every month, Statistics Canada comes out with the unemployment rate, and every month it gets a lot of attention. But the unemployment rate provides quite limited information about the actual health of the labour market.
The addition of two other pieces of information nearly doubles the unemployment rate: the proportion of the labour market employed part-time but looking for more work, and the proportion that would like a job but aren’t actively looking for work, and so aren’t officially counted as being in the labour market.
A new study by the Fraser Institute argues that introduction of anti-union “right to work” laws in Canada would boost manufacturing output and jobs. While they are right that these laws, which make dues payments voluntary, severely weaken unions, it is far from evident that unionization comes at the cost of poorer economic performance.
This is because collective bargaining has benefits for employers as well as for workers, and because collective bargaining outcomes reflect economic realities.
Though it’s true that political and policy debates can get wild and woolly, here at the Broadbent Institute we believe that always grounding arguments in the best available facts is of paramount importance.
So it’s with considerable pride that today the Institute unveils the Broadbent Fellows — a diverse, multidisciplinary group of distinguished scholars, policy experts, and leaders from Canadian civil society who will inform the Institute’s research and policy agenda. Fellows will contribute their expertise to further our efforts to impact public debate in support of progressive change and create innovative approaches to making our country a better, more prosperous, place for all Canadians.
In their book “The Spirit Level: Why Equality is Better for Everyone” Richard Wilkinson and Kate Pickett argue that social well-being – measured using a range of widely accepted indicators – varies a lot between advanced industrial countries. They show that there is little relationship between the level of GDP per capita within a country and social well-being. However, they find that there is a strong positive relationship between a low level of income inequality and well-being; in other words, they find that societies with a high degree of income equality among its members are generally happier and healthier than more unequal societies.