摘要：An understanding of what drives the participation
rate is necessary for the projection
of labour force growth, a key input into the determination
of the economy¡¯s production potential.
1 The sharp drop in the participation rate in
Canada in the 1990s has given rise to considerable
debate about its cause and if it was reasonable
to have expected it to have returned to its
pre-recession peak. If that peak is the appropriate
reference point, then the implications are
that labour market slack is considerably larger
than the present unemployment rate suggests.
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