Think tank projects 3 per cent growth this year
Employment prospects in Canada are looking up, if moderately, according to leading economic think-tank, the Organization for Economic Co-operations and Development. They project that Canada’s unemployment rate will fall to 7.8 per cent next year, from 8.1 per cent this year, and to 7.4 per cent by 2012. The economy is projected to grow to three per cent this year, slip down to 2.3 per cent next year, and climb back up to three per cent again in 2012. Economic recovery has slowed due to waning expansion of external demand, the report said, as well as a reduction in household spending growth.