Canada’s economy continues to struggle with job creation that keeps up with its population. Statistics Canada (Stat Can) data shows the unemployment rate was unchanged in December. However, the population growth means nearly 20% more unemployed than last year. That excludes the demand for work from international students—many attracted by promises of working extended hours […]
Greater Toronto real estate attracted some more buyer’s, but not enough to change its trend. TRREB data shows composite home sales made an uptick in December. Despite a small increase in sales, lingering inventory remains higher than usual, pushing prices lower. Having shed a fifth of value since hitting the all-time high, prices are still […]
Canada is seeing record immigration but its economy doesn’t resemble one that typically attracts this type of growth. The country’s gross domestic product (GDP) came in flat in October, marking a fifth month of stalled growth. Despite record population growth, this lack of performance is still primarily attributed to increased government stimulus. It’s a setup […]
Despite elevated inflation, Canada’s economy is sputtering. Statistics Canada (Stat Can) data shows gross domestic product (GDP) was unchanged in October 2023. Output has now failed to advance for nearly half a year, despite the record population boom that was expected to drive demand. RBC warns the country is most likely to print a sixth […]
Time for the holidays, which means it’s time for window dressing season—even when it comes to inflation. The Statistics Canada (Stat Can) Consumer Price Index (CPI) stalled within spitting distance of the central bank’s target range in November. Downward pressure was created by falling energy costs, helping create a temporary halt of a carbon levy. […]
Canada’s once tight labor market, a key driver of wages and shelter costs, is loosening. Statistics Canada (Stat Can) data reveals job vacancies declined further in Q3 2023. The drop is a double-edged sword: roles being filled is good news, but job creation is failing to keep up with population growth. Canada is adding roughly […]
Canadian real estate just put an end to any doubt the bubble still has a little life in it. Canadian Real Estate Association (CREA) data shows home prices fell further in November. Soft sales and rising inventory continue to apply downward pressure on values. Owners rushing to sell at an unusual time helped drive the […]
Canadian real estate is rarely this out of reach, and it’s always followed by recession. That was the take from BMO, noting further erosion in the Bank of Canada (BoC) Housing Affordability Index (HAI) in Q3 2023. Higher rates are finally slowing down the pace at which it worsens, but it hasn’t been this bad […]
North American interest rate hikes are now largely out of the picture, and rate cuts are the new story. That was the take from BMO after the Bank of Canada (BoC) announced a hold on the 6th, with the US Federal Reserve expected to do the same on the 13th. Now the question on everyone’s […]
Canadians briefly thought the country’s central bank was owning up to, and correcting its mistakes. That pipedream had a bucket of cold water poured on it Thursday, as Bank of Canada (BoC) deputy governor Gravelle’s speech referred to a “long standing housing supply issue.” Adopting a popular but false political narrative didn’t sit right with […]
