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Canada’s coronavirus recovery continued in November as employment rose by more than 62,000 and unemployment dropped to 8.5 percent. The Canada jobs Labour Force Survey recorded an employment increase of 0.3 percent for the month, slower than previous months but still another step in the right direction. The month saw full-time employment rise by 99,000,
Canada saw its unemployment rate edge down as it added 83,600 jobs in October, despite many provinces reimposing restrictions due to the second wave of COVID-19. The Canada jobs Labour Force Survey showed the unemployment rate fell 0.1 percentage points to 8.9 per cent compared to September. Of the employment increase, the majority was in
The Canadian economy surpassed growth expectations last fall, renewing hope that the recession is slowing down. According to the latest figures from Statistics Canada, the economy grew by 0.3 percent in both September and October, surpassing predictions. Overall the economy grew every month in 2013 excepting June. “Canada’s economy is showing sustained strength for the
According to a report by the CIBC, the number of non-permanent residents in Canada has more than doubled over the past decade. In total, there are almost 770,000 non-permanent residents in Canada – 450,000 more than there were 10 years ago – and they have a substantial impact on the housing market and consumer spending.
The Canadian economy performed surprisingly positively in October and is set to extend its broadly-based growth with higher exports to the U.S., but uncertainty remains over the impact of lower oil prices on the energy sector. According to Statistics Canada, Gross domestic product rose 0.3 per cent to an annualized $1.65-trillion in October, after a
Stephen Poloz has kept markets on edge ever since an unexpected rate cut to the Bank of Canada’s key interest rate in January, the first adjustment in four-and-a-half years. The Bank of Canada governor and his policy team are likely to keep their options open, maintaining the trendsetting lending level at 0.75 per cent —
A new Bank of Canada survey is sparking hope that economic recovery may be on the horizon. According to the Bank’s fourth quarter survey, released last week, there are “some positive signs” for the economy and projections for future sales growth are “solidly positive.” These positives are related to responses provided by businesses, signalling intent
A report published as part of the autumn edition of the Bank of Canada Review, a twice-yearly collection of academic papers by bank economists, concludes that the slow economic growth in Canada is here to stay. Overall, there is increasing evidence that growth in advanced economies may remain slow in the immediate future compared to
As Canada moves into the second half of the year, many employers are seeking to increase headcount. More than one-half (56 per cent) of hiring managers have plans to hire full-time, permanent staff, up from 48 per cent this time last year, and 40 per cent in 2012. Additionally, 50 per cent expect to hire
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