HR Study 2010
> The Effect of the Global Economic Recession on Canada's Creative Economy in 2009
Purchase all three documents that make up HR Study 2010 in a printable electronic format
The HR Study 2010 package contains: HR Trends and Issues, Labour Market Information for Canada's Cultural Sector and The Effect of the Global Economic Recession on Canada's Creative Economy in 2009.
The global recession is having a profoundly negative impact on most sectors of the Canadian economy this year. The Canadian economy entered into a recession in the fourth quarter of 2008, and is expected to continue contracting through much of 2009 before turning around later in the year.
Canada's culture sector is not immune to the effects of the global recession. Indeed, the analysis presented in this report shows that the culture sector of Canada's economy will be hit harder by the global recession than the overall Canadian economy. Real value-added output, or gross domestic product (GDP), for the Canadian economy is expected to be 4 per cent lower in 2009 than it would have been in the absence of the global recession. In comparison, real value-added output in Canada's culture sector is expected to be 4.8 per cent lower in 2009 than it would have been had there not been a recession.
Our estimates suggest the global recession is likely to reduce real direct value-added output of Canada's culture sector by about $2.2 billion in 2009. Other key findings from the Conference Board's analysis of the impact of the global recession on Canada's culture sector can be summarized as follows: