Canada is winning when it comes to attracting immigrants, but failing to use its windfall. That was the take from RBC examining the immigration boom that makes up nearly all growth. In an email to investors, they explain the immigrants are younger and better educated than Canada’s domestic workforce. However, they were more likely to […]
The Canadian economy might seem booming — but not for everyone. Statistics Canada (Stat Can) payroll data shows elevated job vacancies in February. Wages increased, as one would expect with such high job vacancies. They just failed to keep up with the kind of growth expected in a high inflation environment. Average wages grew by […]
Canada has never seen anything like the current residential real estate market. Sure, affordability is often a problem at the peak of a real estate cycle. However, the gap between home prices and disposable incomes has never been this wide. Home prices have persistently outpaced wages for this generation, and it’s not slowing. The gap […]
Canada bills itself as an immigration hub, but more immigrants are unhappy after arriving. A new Leger survey conducted on behalf of the Institute for Canadian Citizenship (ICC), shows the cost of living is becoming a big deterrent. That’s the number one challenge new Canadians see weighing on future immigration. It’s become so bad, over […]
Canadian real estate is increasingly flashing warnings after detaching from incomes. Sal Guatieri, a senior economist at BMO, found another one — home values as a percent of income. The indicator calculated by Statistics Canada (Stat Can) shows home prices climbing much faster than incomes. It almost looks like a plotting error, as homes continue […]
The global energy shock is driving costs higher everywhere, and Canadians can feel it at the pump. BMO Capital Markets took a stab at estimating the consumer impact from rising prices. Their research shows gas was ~$1.80/liter on Monday, up from $1.60/liter last week. That’s on top of the increase from last year, sending costs […]
Canadian household budgets aren’t just getting hit by inflation — they’re taking home less too. Statistics Canada (Stat Can) data shows household disposable income contracted in Q4 2021. This is the second consecutive quarter disposable income dropped, and it’s been a significant decline from the peak. Not great, but expected as the economy improved and […]
Canada prides itself on racial diversity, but that isn’t clear from the way visible minorities are paid. A new study from Statistics Canada (Stat Can) shows income earned by race and employer size. They found the average pay for visible minorities can be as much as 30% lower in similar sized workplaces. Men Earn A […]
Canadian households are seeing their net worth soar — at least on paper. Statistics Canada (Stat Can) data shows household net worth made a big leap in Q3 2021, mostly due to real estate. An average household is seeing wealth accumulate at one of the fastest rates in history, with Millennials leading the surge. There’s […]
Canada’s job market is back but it looks very different than it did pre-pandemic. Statistics Canada (Stat Can) data shows two diverging employment trends evolving. Canada’s booming economy is producing a low unemployment rate and soaring job vacancies. Despite the tight labor market, long-term unemployment hit the highest level in more than two decades. Canada’s […]
