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Question 1: Some Canadian Labour market Data [25 marks] This question asks you to retrieve data from Statistics Canada website and conduct some basic
Question 1: Some Canadian Labour market Data [25 marks] This question asks you to retrieve data from Statistics Canada website and conduct some basic empirical analysis. Once you have the data, any spreadsheet program, such as Microsoft Excel or Calc from the LibreOffice Suite (available freely for both Windows and Mac OS X operating systems), will work well for our purposes. Search for table 14-10-0017-01 (Labour force characteristics by sex and detailed age group, monthly, unadjusted for seasonality). You need to retrieve the following data series for the period January 2020 to August 2022: 1. Population, Canada, Both Sex, for two age groups, 15 to 64 years (working-age group) and & 64 to 69 years. 2. Unemployment Rate, Canada, Both Sex, 15 to 64 years. 3. Participation Rate, Canada, Both Sex, 15 to 64 years. 4. Employment Rate, Canada, Both Sex, 15 to 64 years. On August 10th 2022, the Toronto Star had the following headline: A higher percentage of Canadians between 15 and 64 are working now than before the pandemic - so why is there a labour shortage? a) Plot the unemployment rate, the employment rate, and the participation rate for the working-age group on the same graph. Add a secondary y-axis for the employment rate and the participation rate. [Note: Search for How to add a secondary axis on Excel]. Use your graph to confirm the first part of the headline (A higher percentage of Canadians between 15 and 64 are working now than before the pandemic).
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