Canada’s largest real estate markets should prepare for a very different economy over the next few years. Statistics Canada (Stat Can) data shows unemployment in Toronto, Vancouver, and Montreal made big climbs in March. As bad as the loss is, it’s muted by a rapid decline in the participation rate. This means the loss of […]
Canadians got temporary price relief, but it could be a sign of more serious issues brewing. Statistics Canada (Stat Can) reported one of the largest declines in the history of the consumer price index (CPI) for March. The decline puts the index’ growth to one of the lowest levels in years. While low to no […]
Greater Vancouver is seeing insolvencies climb, not unlike the rest of Canada. Office of the Superintendent of Bankruptcy (OSB) filings show insolvencies increased in February. While the increase was in the double digits, the city managed a slower increase than the province as a whole. Greater Vancouver Insolvencies Rise Over 10% Greater Vancouver insolvencies are […]
Greater Toronto insolvencies are following the rest of the country towards multi-year highs. Office of the Superintendent of Bankruptcy (OSB) filings show the number of insolvencies increased in February. This is a general trend that has been occurring across the country. Greater Toronto insolvencies are growing at a faster rate than Ontario as a whole, […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Parliament’s Forecast Includes Unemployment Peaking In Q3 Canadian parliament’s economic forecasts include unemployment rising even further. The PBO economic forecast currently sees 14.8% unemployment in Q2, and the ratio peaking at 15% in Q3. At the end of last year […]
The Canadian government isn’t exactly planning for a v-shaped employment recovery. The Parliamentary Budget Officer (PBO), who gives non-partisan financial forecasts to parliament, updated their forecasts. While the focus of the forecast is how the federal government’s finances will look, there’s some interesting assumptions that are important from a macro perspective. The government is planning […]
Canada is trying to exit a tough situation with the only trick it knows – cheap money. Bank of Canada (BoC) data shows the effective interest rate paid by households plummeted for the week of April 10, 2020. The rate paid by households is now the lowest it’s been in years, accompanied by one of […]
Canadian businesses are getting used to the lock down, but things are still going to get worse. Canadian Federation of Independent Business (CFIB) data shows an improvement of business sentiment in April. The improvement is still relatively mild, as most small to mid-size enterprises (SME) prepare for more layoffs over the next few months. About […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada Loses Over A Million Jobs, And Participation Drops To 1983 Levels Canadian job losses are soaring, and a lot of people are permanently leaving the workforce. The unadjusted rate of unemployment came in at 8.4% in March, up 42.37% from […]
Canadians knew they were in for a whopper of an employment report, but most didn’t expect these numbers. The Statistics Canada (Stat Can) Labour Force Survey shows a historic drop of employment in March. Job losses for the country came in at roughly double what analysts were expecting. Digging deeper into the data, we also […]
