Brad Olsen: Infometrics Principal Economist on the labour market holding steady with 3.4 percent unemployment

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Recorded03 May 2023

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The expected economic downturn has yet to make a dent in the labour market, with unemployment holding steady at 3.4 percent. Other factors are at record highs, including the labour participation rate and the employment rate increased by 72 percent and 69.5 percent. Infometrics Principal Economist Brad Olsen says this indicates the incoming recession may be different, as several businesses are still struggling to fill gaps in their workforces. "There's been an increase in full-timers, there's been an increase in part-timers, the unemployment rate's the same. All of that is encouraging, but also says this far into the economic cycle, after you've seen all those interest rates ratcheted up, the labour market isn't showing any signs of slowing." LISTEN ABOVESee omnystudio.com/listener for privacy information.

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