Canada lost 40,000 jobs in August, bringing the unemployment rate up to 5.4% from its record low in July as construction and education led the declines. … READ MORE >
Inflation
European energy crisis: A quandary with no good policy options
Short-term price caps as the best way—or, put more accurately, the least bad way—to mitigate the price shocks of the energy crisis in Europe and to prevent wider declines in aggregate demand. … READ MORE >
Initial jobless claims drop to lowest level since May
The labor market showed continuing strength as last week’s new filings for jobless claims fell for the fourth week in a row. … READ MORE >
Bank of Canada increases policy rate to 3.25%
The Bank of Canada increased its policy rate by 75 basis points on Wednesday, bringing the overnight rate to 3.25%, and said that it would continue to reduce its balance sheet. … READ MORE >
Service sector continued to expand in August
Service sector growth inched up in August, marking the 27th month in a row of expansion despite recession fears. … READ MORE >
Falling gas prices imply further inflation relief
This recent decline in gas prices should put downward pressure on top-line monthly inflation when the consumer price index for August is released on Sept. 13. … READ MORE >
U.S. August jobs report: Another robust month as employment increases by 315,000
American labor market dynamics remain tilted toward sustained strength in hiring and rising wages. … READ MORE >
Jobless claims show that jobs remain plentiful
First-time claims for unemployment benefits declined to 232,000 for the week ending Aug. 27 as continuing claims increased modestly. … READ MORE >
After a strong recovery in Canada, economic headwinds set in
The Canadian economy has had a year of robust recovery, but now that growth is slowing as economic headwinds set in. … READ MORE >
How high must unemployment rise to tame inflation?
To reduce inflation to acceptable levels, it will be necessary to destroy between 1.7 million and 5.3 million jobs. … READ MORE >