Canada’s job market just lost one of its biggest crutches: public sector hiring. After years of driving job growth—expanding at twice the pace of the private sector—the public workforce abruptly contracted in May. New data from Statistics Canada’s Labour Force Survey (LFS) shows a sharp pullback, raising questions about recent job gains. While the hiring […]
Canadian unemployment is rising, and the country’s largest province is leading the trend. Ontario’s unemployment rate climbed to 7.9% in May—nearly a full point above the national average. A new report from BMO warns the province’s unemployment rate is now at a level not seen outside of the worst recessions. The problem is set to […]
Canada’s economy was dealt another blow last month, and it wasn’t due to tariffs. Statistics Canada (Stat Can) data shows the unemployment rate climbed aggressively in May, hitting a new multi-year high. Despite the narrative of tariff-induced job losses, the country managed to add a few thousand jobs. Rising unemployment continues to be driven by […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Household Debt Grew 2x Faster Than 2019, Driven By Mortgages Canadian households may have trade jitters, but that isn’t stopping them from borrowing. Household debt climbed 0.2% (+$6.2 billion) to reach $3.04 trillion in February—double 2019’s growth rate. Mortgage credit drove […]
Canada’s education system is facing a reckoning: Even during the record tight labor market, graduates struggled to find jobs—with Ontario at the center of the issue. New Statistics Canada (Stat Can) data shows fewer graduates were able to find a job within 3 years of graduating. The study is conducted every 5 years, with the […]
Canada is facing much smaller tariffs than initially proposed, but unfortunately the problems are getting bigger. A new report from Oxford Economics sees the country plunging into a recession deeper than previously anticipated. Despite softening tariff threats, economic uncertainty will reduce consumption and investment, ultimately producing higher unemployment and even briefly producing disinflation. Canadian GDP […]
Canadians are increasingly divided on where the country’s economy is heading in a year. The Bank of Canada (BoC) released the results of its Q1 2025 Consumer Outlook Survey (COS) showing a record share of households fear losing their job. Over 1 in 5 consumers believe they will lose their job within the next 12-months, […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Atlantic Canada & Prairies To Be Hit Hard By China’s Tariff Retaliation: RBC Canadians are so focused on the American-induced trade war they likely forgot they started one with China a few months prior. RBC warns that China has finally retaliated to […]
Canada’s trade war with the world’s largest economy is a serious threat to its stability. In fact, it’s such an economic threat that almost no one is paying attention to another significant one—the trade war with the world’s second-largest economy, China. RBC Economics warns that China has finally responded to Canada’s import tariffs on Chinese […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Bank of Canada Squandering Its Ability To Respond To Trade War: Scotiabank One of Canada’s Big Six banks is warning the central bank is blowing its ability to respond to a trade war. Scotiabank economists wrote to investors warning the BoC’s recent […]
