BoostNB

In the year 2020, with the most recent data available, New Brunswick faced a slightly higher poverty level than the Canadian average. However, the New Brunswick rate has been declining and was below the Canadian rate in the prior year

Here are the highlights from the BoostNB Poverty goal:
• New Brunswick is exceeding the poverty reduction goal set by the UN
• New Brunswick’s poverty rate dropped from 16.2% in 2015 to 7.6% in 2020
• Indigenous Peoples and persons with disability continue to experience higher levels of poverty
• It remains unclear what effect inflation and the ending of Covid-19 relief benefits have had on poverty in the province.

View the full report https://buff.ly/3PvFLqw

Welcome to BoostNB’s Economics 101: Labour Force!

Have you ever wondered who comprises the labour force and how a province’s labour force participation rate is calculated?

The labour force includes two groups of individuals. One group includes people who are currently employed, and the other includes people who are unemployed but who are actively looking for a job. In 2021, New Brunswick experienced a labour force participation rate of 78% which was 1.1% lower than the national average.

Labour force participation rate refers to the percentage of the working-age population (15-64 age group) that is part of the labour force, (employed or unemployed and actively looking for work). It is an important economic indicator that allows us to see the activism of the economy. In other words, an increase in the labour force participation rate might lead to more production which would contribute to the growth of our economy.

For more, you can always check out www.boostnb.com