The latest Statistics Canada numbers confirm a concerning and consistent trend in Canada’s economy. Canada’s Labour Force Participation Rate (LFPR) continues to hover around 15-year lows, with relatively fewer people in the workforce.
Throughout 2015, Canada’s LFPR hovered just above the 15-year low of 65.6 per cent – a number last seen in May, 2000. December 2015 Statistics Canada numbers reported a LFPR of 65.9 per cent.
Some economists have attributed the lower participation rate to demographics and retiring baby boomers; while others argue there is no cause for concern and that Canada’s LFPR rate is in line with long-term historic averages.