Canadas unemployment will go past 7% this year but no recession: OECD – National [Video]

The Canadian economy may narrowly avoid a recession this year, but the outlook for growth and the job market is still expected to take a hit from the trade war, according to the latest report from the Organization for Economic Co-operation and Development.

In its Canada economic survey, the OECD outlines key areas that are already slowing or forecast to decline this year, including per capita GDP, housing affordability, adapting to climate change and business sector productivity.

The organization cites the U.S. trade war and tariff impacts as one of the main headwinds for Canada’s economy, and provides recommendations for the best ways to counteract those challenges.

The report says the trade war is expected to weigh on Canada’s overall GDP — a measure of the total value of all goods and services produced within Canada on a monthly and quarterly, or three-month, basis.

The OECD adds in its study that boosting business development within …