Canadian Economy Emerged Cleanly From The Great Recession. This Chart Is Proof.

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Canada's previous government loved to tout its economy's relative strength coming out of the Great Recession of 2008.

Data from the Organization for Economic Co-operation and Development (OECD) shows there's some truth to its boasts.

Canada emerged in the top half of countries when it came to real wage growth from 2007 through 2015, said a news release from the U.K.'s Trades Union Congress (TUC).

oecd wage growth

Canadian wages have grown by 9.4 per cent, eight spots shy of top-placed Poland, whose wages grew by 23 per cent in the same period.

The TUC compiled the numbers in an effort to show that U.K.'s wages fell just as much as Greece's did — by 10.4 per cent.

Canada didn't exactly enjoy good news when it came to employment, however.

employment change

The Great White North ranked in the bottom half of countries when it came to employment, dropping 1.7 per cent from 2007 to 2015.

It wasn't, however, anywhere near the worst. That was Greece, which saw its employment fall nine per cent, followed by Spain with 8.5 per cent and Ireland with 7.0 per cent.

Those are, of course, only two indications of how Canada's economy has performed since the Great Recession. Others have hacked away at Canada's pride in its economic results since the financial crisis.

A graph released by BMO in 2013 showed that Canada's economy only did slightly better than the U.S.'s.

us canada gdp

Data released by the U.S. Commerce Department at the time showed that the U.S. economy didn't plunge as deeply amid the recession as people thought.

From peak to trough, America's GDP fell by 4.3 per cent between 2008 and 2009, compared to 4.2 per cent in Canada.

The U.S. economy actually did better than Canada's in subsequent years, climbing above it in 2011 and 2012.

BMO economist Douglas Porter told The Wall Street Journal at the time he had a tough time believing those numbers.

So tough, in fact, that they helped him conclude that GDP is not a strong measure of a country's economy.

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