The Canadian economy has shown remarkable resilience this year, defying expectations of a downturn amid elevated inflation and rising interest rates. In our updated economic forecast, we have downgraded the probability of a recession in Canada over the next 12 months to 60%, from 75%. A 40% ... READ MORE >
Canada’s job market slows as unemployment rate hits 5.5%
Even though the number of jobs overall in Canada was little changed as the economy lost 6,000 positions in July, the labour market is showing signs of losing momentum. Canada’s unemployment rate rose to 5.5%, the third consecutive increase for the first time since March 2020, the onset of the ... READ MORE >
Canada inflation remains elevated amid high gas prices
Despite aggressive interest rate hikes and an economy that is beginning to cool, inflation in Canada remained elevated in October. The consumer price index rose by 6.9% on a year-over-year basis, matching September’s increase. On a month-over-month basis, the index rose by 0.7%, the largest increase since ... READ MORE >
Canada adds a stunning 108,000 jobs in October, reversing decline of prior 5 months
In a stunning turnaround, Canada added 108,000 jobs in October, reversing all the losses from May to September. The outsize gain and the resilience of the job market suggest that the Bank of Canada will announce another supersize interest rate hike next month. Wages increased by a robust 5.6% and ... READ MORE >
Bank of Canada announces smaller-than-expected 50-basis-point hike
The Bank of Canada on Wednesday dialed back the pace of rate hikes, announcing a 50-basis-point hike and bringing the policy rate to 3.75%. This marks a 3.5% increase in just eight months, since the first rate hike in March. This smaller-than-expected rate hike comes as recession fears increase, and ... READ MORE >
Canada’s inflation refuses to cool
September’s consumer price index for Canada put out any hope that inflation will get back under control anytime soon and only added pressure on the Bank of Canada to maintain its aggressive interest rate hikes. Canada’s CPI rose by 6.9% on a year-over-year basis, slightly down from 7% in August, ... READ MORE >
To thrive, middle market needs more women in leadership
One of the fundamental changes in the workplace over the next decade will be the increasing role of women. Women not only make up half of the workforce in the United States but they also are the more educated half. College-educated women outnumber men with similar education in the United States, and ... READ MORE >
Canada’s job market shows little sign of slowing
Canada’s economy in September reversed the slowing labour market of the summer, adding 21,100 jobs while unemployment fell to 5.2%, according to government data released Friday. Employment among women in their prime working age grew for the first time since May as children headed back to school, ... READ MORE >
Accounting for climate risks in business decisions
After a slow start, hurricane season has taken a significant toll in North America this year. Hurricane Fiona devastated Canada’s Atlantic provinces, leaving hundreds of thousands of people without power. Less than a week later, Hurricane Ian laid waste to vast areas of Florida and the Southeastern United ... READ MORE >
Canada’s supply chain healthy as demand slows
The RSM Canada Supply Chain Index reached 2.31 in August, one of the highest readings since 2000, thanks to improvements across delivery time, prices, and inventory levels, signaling sufficient health of the supply chain. This sharp increase represents a dramatic shift from just a few months ago; in ... READ MORE >