Canada is losing jobs, but don’t worry—it needs less of them. That was the general takeaway from Statistics Canada (StatCan) this morning. Despite the agency reporting fewer jobs in January, the headline unemployment rate fell as fewer job seekers were in the market. Before bragging about how great the economy is, it’s worth understanding the […]
Canadians earned less last year—but not across the board. New taxfiler data from Statistics Canada (StatCan) shows the country’s top earners barely budged in 2023, even as most earners saw their income eroded by inflation. But the real insight isn’t who made the most—it’s how they made it. As poorly targeted policies continue to penalize […]
Hoping Canadian Parliament’s proroguing will provide relief from higher capital gains? Canada’s Department of Finance warns that isn’t the case, and new forms to pay the increased capital gains rate will arrive by month’s end. Parliament prorogued yesterday abandoning all unpassed legislation, that includes the changes to the capital gains inclusion rate. However, the tax […]
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 […]
Canadian real estate prices have surged in almost every market, with a typical home price doubling in many regions. A median household in major cities like Toronto and Vancouver would need to save over 20 years for just the down payment, more than 3x the historic average. Seems absurd? The outlandish scenario was apparently a […]
Canada is winning when it comes to attracting immigrants, but failing to use its windfall. That was the take from RBC examining the immigration boom that makes up nearly all growth. In an email to investors, they explain the immigrants are younger and better educated than Canada’s domestic workforce. However, they were more likely to […]
The Canadian economy might seem booming — but not for everyone. Statistics Canada (Stat Can) payroll data shows elevated job vacancies in February. Wages increased, as one would expect with such high job vacancies. They just failed to keep up with the kind of growth expected in a high inflation environment. Average wages grew by […]
Canada has never seen anything like the current residential real estate market. Sure, affordability is often a problem at the peak of a real estate cycle. However, the gap between home prices and disposable incomes has never been this wide. Home prices have persistently outpaced wages for this generation, and it’s not slowing. The gap […]
Canada bills itself as an immigration hub, but more immigrants are unhappy after arriving. A new Leger survey conducted on behalf of the Institute for Canadian Citizenship (ICC), shows the cost of living is becoming a big deterrent. That’s the number one challenge new Canadians see weighing on future immigration. It’s become so bad, over […]
Canadian real estate is increasingly flashing warnings after detaching from incomes. Sal Guatieri, a senior economist at BMO, found another one — home values as a percent of income. The indicator calculated by Statistics Canada (Stat Can) shows home prices climbing much faster than incomes. It almost looks like a plotting error, as homes continue […]
