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Benchmarks for assessing labour market health: 2023 update

Author

Listed:
  • Erik Ens
  • Kurt See
  • Corinne Luu

Abstract

We enhance benchmarks for assessing strength in the Canadian labour market. We find the labour market remains tight despite recent strong increases in labour supply, including among prime-working-age women]. We also assess the anticipated easing in labour conditions in a context of high population growth.

Suggested Citation

  • Erik Ens & Kurt See & Corinne Luu, 2023. "Benchmarks for assessing labour market health: 2023 update," Staff Analytical Notes 2023-7, Bank of Canada.
    • Handle: RePEc:bca:bocsan:23-7
    as

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    References listed on IDEAS

    as
    1. Julien Champagne & Christopher Hajzler & Dmitry Matveev & Harlee Melinchuk & Antoine Poulin-Moore & Kemal Ozhan & Youngmin Park & Temel Taskin, 2023. "Potential output and the neutral rate in Canada: 2023 assessment," Staff Analytical Notes 2023-6, Bank of Canada.
    2. James D. Hamilton, 2018. "Why You Should Never Use the Hodrick-Prescott Filter," The Review of Economics and Statistics, MIT Press, vol. 100(5), pages 831-843, December.
    3. Josefine Quast & Maik H. Wolters, 2022. "Reliable Real-Time Output Gap Estimates Based on a Modified Hamilton Filter," Journal of Business & Economic Statistics, Taylor & Francis Journals, vol. 40(1), pages 152-168, January.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Business fluctuations and cycles; Coronavirus disease (COVID-19); Econometric and statistical methods; Labour markets; Monetary policy;
    All these keywords.

    JEL classification:

    • E - Macroeconomics and Monetary Economics
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J - Labor and Demographic Economics
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J6 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers

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