Figure6-3Growth, Interrupted, 1961–2011 Panel (a) shows two important economic numbers, the levels of real GDP and employment. Both numbers grew substantially from 1961 to 2011, but they didn’t grow steadily. Instead, both suffered from three downturns associated with recessions, which are indicated by the shaded areas in the figure. Panel (b) emphasizes those downturns by showing the annual rate of change of real GDP and employment, that is, the percentage increase over the previous year. The simultaneous downturns in both numbers during the three recessions are clear.
Source: Statistics Canada.
Source: Statistics Canada.