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Tatevik Sekhposyan

Bank of Canada

Publications & Resources

  • Output and Unemployment: How Do They Relate Today?

    October 2013 | Regional Economist

    Fifty years ago, Arthur Okun examined the relationship between output growth and the unemployment rate. The empirical relationship of the resulting “Okun’s law” has remained largely intact since then, including during the Great Recession. However, while the law does fit our intuition about economic relationships, it should not necessarily be taken to be causal.