Job openings, a proxy for labor demand, reached 11.03 million, exceeding 11 million for the second time on record, slightly lower than the all-time high set in July. … READ MORE >
Coronavirus
Bank of Canada decision: Central bankers set the stage for 2022 rate hikes
The Bank of Canada kept its policy rate at 0.25% at its December meeting on Wednesday as it prepares the public and market participants for the normalization of monetary policy and the first increase in interest rates next year. … READ MORE >
Chart of the day: U.S. trade deficit improved significantly in October
The U.S. trade deficit posted a sharp decline in October to $67.1 billion from the record $81.4 billion in September, according to data released by the U.S. Census Bureau on Tuesday. … READ MORE >
Canada’s trade surplus grew in October, fueled by autos and energy
Canada’s merchandise trade surplus widened to CAD $2.1 billion in October—a 10-year high—as exports of motor vehicles and parts as well as energy surged. … READ MORE >
Our economic outlook for Canada in 2022
We see a Canadian economy growing around 4% on the year, inflation hitting 5% before easing to 2% by year’s end, and the unemployment rate declining to just above 6%. … READ MORE >
Chart of the day: With oil prices elevated, will U.S. production follow?
Our model of the relationship between wholesale gasoline futures and retail gasoline prices implies a decline of 15% to 20% from the current national average of $3.36 per gallon. … READ MORE >
Chart of the day: Service sector expands at record pace
The shift back to spending on services continued to accelerate in November as the headline purchasing managers’ index for services reached an all-time high, according to data released by the Institute of Supply Management on Friday. … READ MORE >
November U.S. job data: A tale of two reports as unemployment rate fell to 4.2%
The labor market is tightening, and wages are rising in what is the best labor market for workers since the late 1990s. … READ MORE >
Initial jobless claims tick up but labor market remains tight
New filings for jobless claims rose on a seasonally adjusted basis to 222,000 for the week ending Nov. 27, beating expectations and continuing an overall improvement of the labor market. … READ MORE >
Chart of the day: Manufacturing sector gained as price pressures eased
The manufacturing sector grew at a slightly higher pace in November than in October as demand for manufactured goods remained robust, according to a new report from the Institute for Supply Management on Wednesday. … READ MORE >