Recession May Have Ended But Economy Still in Hole

Two years removed from what many feared would be the total collapse of the world economic and financial systems, Canadians may be forgiven for asking — “What was the big deal?”

The most severe global recession in six decades fizzled into a run-of-the mill slump in Canada lasting three quarters and costing just over 400,000 jobs, a mere 2.4 per cent of the labour force.

And as the second anniversary of “the Great Recession” approaches, superficially at least, Canada’s economy appears to be just about where it started.  Read More…

This article has 13 Comments

  1. bani

    The increase of the Economy will take a little more time than we expect.

  2. Rob C

    I agree with Giovani W, it’s not done yet. It’ll get worse but you can take advantage of this recession and profit big time from it.

  3. Garrison

    So when are saving account interest rates going to go back up to 4%?

  4. Giovani W

    The economy is very vulnerable and the piece is correct in pointing out household debt. We are not done yet!

  5. Jarrett

    It may have been a bumpy road to recovery but we are getting there while the rest of the world continues to suffer.

  6. Jacquez

    Its time for the government to cut back on unnecessary suspending or we could be in for another great recession on the horizon.

  7. Carlo

    Increase interest rrates? Are you nuts or have no clue how the economy works? Sheesh!

  8. Macy Bibee

    I think it might be time for BoC to increase interest rates

  9. Dino Main

    All that has happened is the hemeraging has stopped but there is still work to be done.

  10. Brendon S.

    After Christmas i think Canada will be completely recovered. The economy is just in the healing process and takes time.

  11. Porter L.

    I called it way back in July that this thing wasn’t over and none of you would listen.

  12. Harper

    The economy is in for a double dip. And it is no doubt because of the U.S. lack of real financial reform.

  13. Ronan F.

    LOL and everyone was claiming this thing was on lock down and we were on the up and up again!

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