Time for your cheat sheet on this week’s top stories. Canadian Real Estate A Quarter of Employed Canadians Now Work For The Government Canada’s surging population is outpacing job growth, and it may get a lot worse. Statistics Canada (Stat Can) data shows that 1 in 4 employed people now work for the government, which […]
Canadian employment doesn’t look like it moved much, but under the surface was a giant shift. Statistics Canada (Stat Can) data shows the number of jobs virtually unchanged in July, growing 1.7% (+345k jobs) over the past year. As a result, the unemployment rate was also flat at 6.4%, adding 0.9 points from last year. […]
One country’s discreet bailout is another country’s financial crisis, and that’s why Basel III was rolled out. The series of banking supervision measures are designed to improve banking resilience, with the latest measure designed to set minimum capital using a standard approach to risk. Canada was set to begin adopting the rules this year, but […]
Priced out of housing and now facing an eroding labor market, Canada’s young adults can’t catch a break. A new report from National Bank of Canada (NBF) warns that unemployment is on the rise across the country, but it’s surging for young adults (15 to 24 years old). The demographic is seeing unemployment rise much […]
Swing and a miss—strike two for interest rates boosting Greater Toronto real estate demand. Toronto Regional Real Estate Board (TRREB) data shows home prices slipped lower in July. Despite a narrative of rapid population growth, demand remains historically weak as sellers appear in near record high volumes for the month, only to find one of […]
Canadian consumers are known for their resilience, but that luck might be running out. Office of the Superintendent of Bankruptcy (OSB) filings show consumer insolvencies had one of the biggest June’s on record. A sudden surge of consumer insolvencies over the past year has the annual volume at the third-largest peak on record, and the […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Credit Demand Is Rapidly Collapsing Despite Population Growth Canadian households aren’t borrowing, which may indicate that they’re weaker than they appear. Annual household credit growth advanced 3.4% in May, just 0.2 points above the cycle’s low hit in October 2023. The […]
Canadians aren’t acting like themselves and it may be a sign of a more concerning trend brewing. Bank of Canada (BoC) data shows annual household credit growth decelerated in May. Just off multi-decade lows, despite cheaper credit on the way, households are pulling back on borrowing. The low growth for borrowing is even more concerning […]
Canadian real estate is expensive, but at least it comes with “free” healthcare, right? One might want to reconsider that statement when they take a look at the latest update of the Canadian Consumer Tax Index for 2023. Published by the Fraser Institute, it shows the average household is devoting significantly more towards income taxes […]
Canada’s economy beat expectations but dive into the details before celebrating. Statistics Canada (Stat Can) data shows real gross domestic product (GDP) grew faster-than-expected in May. However, even with a rapid public sector expansion driving half the advance, it failed to meet population growth. As a result, Canada’s GDP per capita recession printed an 8th […]
