16.7% of the active population by December 1992 while the number of households relying on welfare increased from 88,000 to 102,000 between April 1990 and December 1992. The early 1990s recession was notable for being substantially more negative for employment in Ontario than the early 1980s recession; Ontario's percentage of total age 15-64 population employed began to decline early in 1989 and only began to grow again early in 1994, five years of decline with an 8.2 percentage point drop. By contrast, in the early 1980s Ontario's employment percentage decline was shorter than Canada's as a whole and only had a 4.4 percentage point contraction. Comparison to early 1980s recession C.D, Howe Intitute's Business Cycle Council classifies Canada's recession according to their severity, with Category 4 recessions being the second highest after Category 5, which is a depression. It defines Category 4 recessions as having substantial declines in real GDP and employment for a year or longer. The early 1990s recession in Canada is classified as a Category 4 recession, the same category as the early 1980s recession. Notably, the early 1990s recession did not have as deep a contraction as the early 1980s recession, but was of longer duration as it had four years of less than 2.3% growth in real GDP (1989–92), while the early 1980s recession only had two years of less than 2.3% growth (1980 and 1982), and only the early 1990s recession actually saw a decrease in GDP per capita, that being by $29 in 1991. Both recessions had high unemployment after the recessionary period had officially ended with unemployment rates of 12% and 11.4%, in 1983 and 1993, respectively. Other sources describe the early 1990s recession as "the deepest in Canada since the Great Depression of the 1930s" naming it "the Great Canadian Slump of 1990–92." Western Europe Finland Finland underwent severe economic depression in 1990–93. Badly managed financial deregulation of the 1980s, in particular removal of bank borrowing controls and liberation of foreign borrowing, combined with strong currency and a fixed exchange rate policy led to a foreign debt financed boom. Bank borrowing increased at its peak over 100% a year and asset prices skyrocketed. The collapse of the Soviet Union in 1991 led to a 70% drop in trade with Russia and eventually Finland was forced to devaluate, which increased the private sector's foreign currency denominated debt burden. At the same time