New claims inched down by only 0.9% last week, to 229,000, from an upwardly revised 231,000 in the prior week. The pre-pandemic level in 2019 was 218,000. … READ MORE >
interest rates
As rates rise, Canada’s construction industry enters a new phase
One of the industries hit hardest by rising interest rates has been construction, and this slowdown now threatens to make Canada’s housing shortage more acute. But there are opportunities for savvy developers. … READ MORE >
Midyear update: An economy on knife’s edge as inflation bites
The supply, demand and energy shocks cascading through the American economy are sufficient to cause an end to the business cycle over the next six months. … READ MORE >
Changes in Fed policy and their impact on the economy
The Federal Reserve’s changes to short-term interest rates will affect the stock of money, which directly determines the direction of the real economy, output and employment. … READ MORE >
Chart of the day: U.S. housing starts and permits plunge
Housing starts fell by 14.4% to 1.549 million on an annualized basis in May, the lowest point in more than a year. … READ MORE >
Initial jobless claims exceed pre-pandemic level for second straight week
There were 229,000 new jobless claims for the week ending June 11, down slightly from an upwardly revised 232,000 in the prior week. … READ MORE >
Fed announces largest rate hike in nearly three decades as it seeks to restore price stability
The Federal Reserve lifted its federal funds policy rate to a range between 1.5% and 1.75% on Wednesday as it moves to restore price stability over the medium term. … READ MORE >
Updated FOMC call: Fed to hike policy rate by 75 basis points
Based on movements inside the rate markets, quickly changing inflation expectations and a rattled investor class, we now expect the Federal Reserve on Wednesday to raise its policy rate by 75 basis points to a range between 1.25% and 1.50%. … READ MORE >
FOMC preview: 50-basis-point hikes through September
We expect that the Federal Open Market Committee this week will lift the federal funds policy rate by 50 basis points to a range between 1.25% and 1.5%. … READ MORE >
Canada’s unemployment rate falls to 5.1%, another record low
Canada’s labour market remained tight in May, adding 40,000 jobs as the unemployment rate fell to 5.1%, another record low. … READ MORE >