Canada rapidly scaled its generous immigration policy to fill a surge of vacant jobs. Those vacancies proved to be temporary, but the immigration policies remain largely unchanged. According to Bank of Canada (BoC) data, this is producing higher unemployment and more competition for the remaining jobs. As a result, 1 in 8 recently arrived immmigrants […]
Canada’s labor market continues to add jobs, but not nearly enough to keep it from falling behind. Statistics Canada (Stat Can) released the latest Labor Force Survey (LFS) showing employment grew in May. The same data shows the growth was just a third of what was needed to accomodate its rapid population growth. As a […]
The Canadian economy surprised with huge job gains last week. Statistics Canada (Stat Can) data shows tens-of-thousands of jobs were added in April. Despite a near-record gain, BMO warned investors the market isn’t as healthy as it sounds. Canada’s booming population growth meant the job gains failed to meet minimum requirements. As a result, the […]
The only growth more impressive than Canada’s population is its surging unemployment. Statistics Canada (Stat Can) data shows the economy stumbled in March. It was such a minor decline, it wouldn’t be worth noting if not for the population growth. The country only lost a couple thousand jobs, but managed to add tens of thousands […]
The CEO of the world’s largest asset manager sees a Boomer demographic crisis brewing. Earlier this week, Blackrock CEO Larry Fink warned the US is rapidly approaching a crisis as Baby Boomers retire. BMO isn’t quite sure if it’s “crisis or karma,” but in either case—they see the problem as overstated. The bank argues Canada […]
Toronto’s population boom has led to rapid growth of its talent pool—but can they find work? Statistics Canada (Stat Can) data shows Toronto’s unemployment rate rose significantly faster than the national rate in February. The city’s unemployed population has grown to hundreds of thousands of people, with annual growth rising 11x the rate of its […]
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 […]
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 credit is normalizing after an epic binge, and it’s presenting some red flags. Office of the Superintendent of Bankruptcy (OSB) data showed a downtick for Q3 insolvency filings. The drop was mostly seasonal, with the volume still trending towards pre-pandemic levels. That may sound like a return to normal, but there’s one big change—insolvency […]
The Canadian labor market is slowing but it may not be as slow as many have concluded. Statistics Canada (Stat Can) data shows the country added thousands of jobs in October. It just wasn’t enough to prevent unemployment from rising. Labor market erosion is almost a certainty, but post-recession seasonal adjustments amplify movements. As a […]
