Canada

Canada’s Income Support Has Created A “Disincentive” To Work: National Bank

The Canadian economy is slowly recovering, but the unemployment rate is still elevated. Somehow small businesses are unable to find unskilled labor, even as wages rip higher. National Bank Canada (NBC) deputy chief economist Matthieu Arseneau attributes this to generous income support. In the bank’s opinion, the support has created a “disincentive” to work. Canadian […]

Canada

Canadian Banks Are Still Prepared For Record Credit Losses, Despite Low Delinquencies

Since the pandemic began, Canadian households have never been better. They’re saving more, they’re defaulting less, and some have even begun to poop rainbows. At least that’s what the narrative has been. Non-mortgage loan (A2) filings with the Office of the Superintendent of Financial Institutions (OSFI) shows that may not be the case. Expected credit […]