The unemployment rate increased by 0.3 percentage points to 6.8 per cent — the highest since January 2017—as more people looked for work. … READ MORE >
economy
Soft landing likely as Canada added 40,000 jobs in August
A look at August’s job report reveals clear signs of a soft landing. Canada added 40,000 jobs, smashing expectations, and offset the modest loss in July many times over. The unemployment rate was unchanged at 5.5%. Immigration has played a vital part in keeping the economy buoyant as job growth was led by population growth. … READ MORE >
Canada’s economy cools but outlook remains positive
Canada’s GDP grew 3.1% in the first quarter of 2022 as business investment and household consumption continued to boom while energy exports dragged, according to data released by Statistics Canada on Tuesday. The figure was in line with the Bank of Canada’s forecast but noticeably under market expectations. While COVID-19 … … READ MORE >
Existing home sales rebounded in September to highest level since February
The sales number was an upside surprise to earlier estimates of 6.1 million units, pointing to a stronger-than-expected housing market last month. … READ MORE >
U.S. June employment report: Look for robust hiring above 750,000
The June employment report will likely reflect a surge in hiring to prepare for what will be a monumental release of pent-up demand for services over the next three months. … READ MORE >
RSM recovery watch: Upgraded growth forecast and more evidence of a turn in the business cycle
There are arguably enough positive indications to begin planning for a return to normal commercial activity. Here is a sampling of what’s to come, or better put, what the data is suggesting. … READ MORE >
Trump tests positive: Assessing its impact on the economy via financial markets
At this point, we think that any impact on the economy can be measured through the financial channel, the confidence channel and through consumer spending, with a lag. … READ MORE >
CHART OF THE DAY: U.S. durable goods orders accelerate on the back of strong auto demand
This uptick further bolsters the belief that manufacturing activity will help lead the U.S. economic recovery. … READ MORE >
Surprise increase in jobs, but some worrying signs for the Canadian economy
Canada is coming back on line. Social distancing measures have been eased; “realer” time and high frequency indicators like traffic levels, public transportation use and restaurant bookings have increased. Canada added 289,600 jobs in the month of May, when economists had expected a decline of 500,000. The unemployment rate increased to 13.7%, but this was due to more people looking for work. … READ MORE >
U.S. Q4’19 GDP: slow and steady
The U.S. growth picture arrived spot on with the 2.1% economic consensus driven by solid but slowing personal consumption and strong government spending. The large drop in imports, along with the noticeable easing of spending in the fourth quarter, does denote some caution on the growth picture in light of growing domestic and global risks. … READ MORE >