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Year Unemployment rate Minimum wage 1965 3.95 6.4 1966 3.38 6.3 1967 3.83 6.5 1968 4.53 6.6 1969 4.42 7.3 1970 5.67 7.6 1971 6.2
Year | Unemployment rate | Minimum wage |
1965 | 3.95 | 6.4 |
1966 | 3.38 | 6.3 |
1967 | 3.83 | 6.5 |
1968 | 4.53 | 6.6 |
1969 | 4.42 | 7.3 |
1970 | 5.67 | 7.6 |
1971 | 6.2 | 8.3 |
1972 | 6.23 | 8.4 |
1973 | 5.57 | 8.7 |
1974 | 5.33 | 9.1 |
1975 | 6.92 | 9.6 |
1976 | 7.08 | 10.1 |
1977 | 8.06 | 9.8 |
1978 | 8.38 | 9.3 |
1979 | 7.55 | 9 |
1980 | 7.55 | 8.5 |
1981 | 7.63 | 8.2 |
1982 | 11.03 | 7.8 |
1983 | 12.03 | 7.4 |
1984 | 11.35 | 7.3 |
1985 | 10.52 | 7.3 |
1986 | 9.6 | 7.1 |
1987 | 8.83 | 7.1 |
1988 | 7.77 | 7.2 |
1989 | 7.57 | 7.3 |
1990 | 8.15 | 7.3 |
1991 | 10.32 | 7.2 |
1992 | 11.19 | 7.7 |
1993 | 11.4 | 7.8 |
1994 | 10.42 | 8.1 |
1995 | 9.51 | 8.2 |
1996 | 9.61 | 8.3 |
1997 | 9.12 | 8.2 |
1998 | 8.28 | 8.2 |
1999 | 7.59 | 8.2 |
2000 | 6.82 | 8.1 |
2001 | 7.22 | 8 |
2002 | 7.67 | 7.9 |
2003 | 7.58 | 7.8 |
2004 | 7.19 | 7.8 |
2005 | 6.76 | 7.9 |
2006 | 6.47 | 8 |
2007 | 6.17 | 8.1 |
2008 | 6.29 | 8.4 |
2009 | 8.45 | 8.9 |
2010 | 8.18 | 9.3 |
2011 | 7.63 | 9.3 |
2012 | 7.4 | 9.5 |
2013 | 7.15 | 9.5 |
2014 | 7.03 | 9.6 |
2015 | 6.94 | 9.7 |
2016 | 7.03 | 9.9 |
2017 | 6.42 | 10.1 |
2018 | 5.84 | 11.1 |
2019 | 5.69 | 11.3 |
2020 | 9.69 | 11.5 |
2021 | 7.54 | 11.4 |
i) Plot the unemployment rate and the minimum wage for Canada between 1965 and 2021 in the same graph (7 Points)
Answer:
(ii) Using the same graph, discuss if there is a negative or positive relationship between the minimum wage and the unemployment rate. (3 Points)
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