ECONOMY OF CANADA
SOME “MILD SIGNS” OF RECESSION (Rec. 10 p.m.) OTTAWA, March 24. The Bank of Montreal in its monthly business review for March, said today there were some “mild signs” of a recession in Canada, but added that good signs outnumbered the bad. The bank said: “Statistics leave no doubt that the Canadian economy has been experiencing many of the mild recessionary trends that have been apparent in the United States and elsewhere. But some broad indicators of economic activity are still above the levels of a year ago.” The Canadian Labour Department reported that unemployment in Canada continued to rise more than seasonally during February. It reported 559,000 persons out of work. This was an increase of 35,400 since the January report. The report also said that less than 85 per cent, of Canada’s labour force worked full-time during February.
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Press, Volume XC, Issue 27308, 26 March 1954, Page 11
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143ECONOMY OF CANADA Press, Volume XC, Issue 27308, 26 March 1954, Page 11
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