Is there really "material" excess capacity in the Canadian labour market?

Summary In its Monetary Policy Report released in October, the Bank of Canada estimated there was material excess capacity in the labour market based on the high unemployment rate and the proportion of involuntary part-time workers. Among the G7 countries, Canada has posted the best performance in terms of total employment since 2007. What’s more, the quality of the jobs created has been spectacular, as a high proportion of these have been full-time and for the most part in sectors recognized

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