Canada's labour force participation rate has risen to a record high, and the jobless rate has fallen to a 33-year low. While the manufacturing sector has lost about one in seven jobs since 2002 – a total of about 335,000 jobs – total employment in Canada has risen by 1.6 million jobs over the same period.
By leveraging large volumes of data and advanced analytics techniques, it is possible to gain deeper insights into risk profiles of banks and identify potential vulnerabilities. The intention is to brief you on these initiatives so that banks can leverage on their own data analytic capabilities to make data-driven risk management decisions, improve risk assessment accuracy, and enhance their ability to anticipate risks.