Economy & Employment
As of April 2010, the Canadian economy has done much better than most Western nations after the economic crisis of 2008. The banking system is solid and did not have to be bailed out by the government. The economy has added 176,000 jobs from July 2009 until April 2010 and the unemployment rate is 8.2%. Interest rates are expected to start rising in the summer of 2010 in order to slow down the economy. Canada’s government debt as a percent of GDP in 2009 was 28% as compared to 58% for the U.S., 62% for the U.K. and 70% for Germany.
So overall, Canada’s economic situation is the envy of most other countries.
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