Easing Restrictions Ignite Canadian Job Market In February

General Mark Goode 16 Mar

This morning, Statistics Canada released the February 2021 Labour Force Survey showing much stronger-than-expected job growth. The early days of the latest easing in COVID restrictions reinvigorated the labour market. Economists were pleasantly surprised by the rapid rebound. To be sure, there remain risks to the outlook, a rise in virus cases because of the […]

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BoC UPDATE: Bank of Canada Holds Rates and Bond-Buying Steady

General Mark Goode 10 Mar

Much has changed since the Bank of Canada’s last decision on January 20. While the second pandemic wave was raging, new lockdowns were implemented in late 2020, and there were fears that the economy, in consequence, was likely to grow at a 4.8% annual rate in Q4 and contract in Q1. Instead, the lockdowns were less […]

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BoC UPDATE: Bank of Canada Still Expects No Rate Increases Until 2023

General Mark Goode 25 Jan

The Bank of Canada, this morning, released its January Monetary Policy Report (MPR), showing they expect to keep overnight interest rates at its “effective lower bound” of 0.25% until 2023 (see chart below). To reinforce this commitment and keep interest rates low across the yield curve, the Bank will continue its Quantitative Easing (QE) program–buying […]

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DLC UPDATE: Canadian Jobs Market Tanked in December

General Mark Goode 11 Jan

Canadian Jobs Market Tanked in December Canadian employment fell 62,600 last month, a bit weaker than expected, following seven months of recovery (see chart below). The rapid rise in COVID cases and the ensuing lockdown measures in many key regions caused the net loss in jobs in the mid-December survey.  Especially hard hit were workers at […]

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Canadian Home Sales Hit a New Record For The Month of November

General Mark Goode 16 Dec

Canadian Housing Remained Strong in November Today’s release of November housing data by the Canadian Real Estate Association (CREA) shows national home sales continued to run at historically strong levels last month. Competition among buyers remains intense in the detached-home market and townhouses. Still, condo apartment sales-relative-to-new-listings have slowed as new listings surged, especially in the City […]

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DLC UPDATE: Jobs Growth Slows in November Struck By Second Wave

General Mark Goode 7 Dec

Canada’s Jobs Recovery Slowed Again in November With Second Wave The November Labour Force Survey, released this morning by Stats Canada, showed an employment increase of 62,000 compared to 83,600 in October–well below the 378,000 gain in September.  This was the weakest job growth in the past six months since the economic recovery began (see […]

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Canada’s Fiscal Response to COVID is the Largest in the Industrialized World

General Mark Goode 3 Dec

Federal Fiscal Update–Finance Minister Freeland’s Debut Justin Trudeau’s government, which has delivered the biggest COVID-19 fiscal response in the industrialized world, announced plans for another dose of stimulus and vowed to continue priming the pump as long as needed. Finance Minister Chrystia Freeland unveiled $51.7 billion of new spending over two years in a mini-budget Monday, led […]

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DLC UPDATE: Canada’s Jobs Recovery Slowed in October With New Pandemic Restrictions

General Mark Goode 6 Nov

Canada’s Jobs Recovery Slowed in October With New Pandemic Restrictions The October Labour Force Survey, released this morning by Stats Canada, showed an employment increase of 83,600–well below the 378,000 gain in September and average monthly gains of 395,000 over the past six months (see chart below). Several provinces tightened public health restrictions last month […]

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General Mark Goode 29 Oct

Bank of Canada Recalibrates Quantitative Easing As expected, the Bank held its target overnight rate at the effective lower bound of 25 basis points with the clear notion that negative policy rates are not in the cards. Instead, the central bank will continue to rely on large-scale asset purchases–quantitative easing (QE). The central bank is recalibrating its QE […]

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