tertiary services
sectors
(paragraphs 4.5 to 4.9). Thus,
although there was some revival in manufacturing activity and
an improvement in the
the underlying economic situation in the first quarter (paragraphs 2.1, 5.1 and 5.3),
2.1, 5.1 and 5.3), the improvement
was not sufficient to result in a fall in
in the rate (4)
unemployment
4.2
Manufacturing wage rates and construction wage rates
declined in real terms (paragraphs 4.10 and 4.12). In the
twelve months ending December 1982, salaries in the tertiary
services sectors, in terms of payroll per person engaged, rose
in real terms (paragraph 4.11). A more detailed up-to-date analysis of developments in the first quarter of 1983 cannot
be made until statistics on the labour force and on wage rates
for March 1983 become available in the second quarter of this
year.
The supply of and the demand for labour
4.3
The growth rate of the supply of labour remained
slow, as the major factors affecting the growth rate of the
labour force continued to stabilize. Net immigration (balance
of total arrivals and departures of legal immigrants plus an
estimate of illegal immigrants) continued to decline
steadily. The labour force participation rate, which is the
proportion of the economically active population working or
seeking work, also declined in the quarter ending February 1983, after a slight increase in the quarter ending November 1982 (5).
•
/4.4 Although
...
(4) Given increases in the labour force and in productivity, there is, at any point in time, a minimum growth in output that is required if unemployment is not to increase. Thus, unemployment may continue to rise even after output growth begins to recover, especially when there is spare productive capacity.
(5)
The labour force participation rate in the quarter ending February 1983 was 63.7%, compared with 64.3% in the quarter ending November 1982.
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