The demand for labor stayed strong in October as concerns over the delta variant faded and the economy continued to bounce back from the pandemic. 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 ... READ MORE >
pandemic
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. The central bank’s policy rate decision and forecast, on the back of a ... READ MORE >
Chart of the day: U.S. trade deficit improved significantly in October
The United States 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. The improvement was led by a surge in exports, which rose by $16.5 billion, or an 8.1% increase on the month, ... 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, according to data released by Statistics Canada on Tuesday. Both exports and imports rose, especially in trading with the United States, primarily ... READ MORE >
Our economic outlook for Canada in 2022
Canada’s economy had a bumpy ride in the past year, as the promise of mass vaccinations was followed by supply chain disruptions, a global energy crisis and rising inflation. Looking ahead to next year, we see a Canadian economy continuing to recover, even as businesses and consumers contend with ... 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. The headline index rose to 69.1 on the month from 66.7, the third ... READ MORE >
Canada’s unemployment rate approaches pre-pandemic level
Canada added 153,700 jobs in November, bringing the unemployment rate down to 6% as it approaches the pre-pandemic level, according to data released by Statistics Canada on Friday. The report was a sign that Canada’s heated labour market was finally benefiting workers who have been left out of the ... READ MORE >
November U.S. job data: A tale of two reports as unemployment rate fell to 4.2%
The American labor market tightened noticeably in November despite a slower pace of hiring, according to Labor Department data released Friday. Rarely has an estimate produced by the Bureau of Labor Statistics showed such a divergence between the two surveys of the labor market—the establishment ... 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 the overall improvement of the labor market, according to government data released Thursday. After a sharp drop in the week before Thanksgiving, the new jobless ... READ MORE >
Chart of the day: U.S. consumer confidence inches down
Consumer confidence inched down in November to 109.5, the lowest since March, as inflation continued to take its toll, according to a report from the Conference Board on Tuesday. Now, with the emergence of the omicron variant of the coronavirus, which is not reflected in the November data, consumer ... READ MORE >