Canadian Unemployment Archives - Better Dwelling

How Canada’s Unemployment Adjustments Artificially Lowered The Rate

Stephen Punwasi — Thu, 10 Aug 2023 18:43:32 +0000

Do you recall other peak economic cycles? Think back to 2007, 2000, 1989… or further back if you remember them. Those were nothing compared to the current economic prosperity. Aside from last year, no other July has ever reported a smaller share of unemployed Canadians. It’s an employee’s economy, where they call the shots, and […]

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Canadian Unemployment Hits Multi-Year High As Population Doubles Job Growth

Daniel Wong — Mon, 07 Aug 2023 17:40:42 +0000

Canada’s ability to attract talent is making it a victim of its own success. Statistics Canada (Stat Can) data revealed minimal job losses for July 2023. However, the unemployment rate climbed as population growth doubled the rate of jobs. This helped drive the unemployment to the highest level since the start of 2020. Canada’s Unemployment […]

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Canada’s Drop In Unemployment Was Due To More People Giving Up On Their Job Hunt

Daniel Wong — Tue, 12 Jul 2022 01:40:42 +0000

Canada’s record low unemployment rate just keeps falling, but it may not mean what we think it does. Statistics Canada (Stat Can) labor force survey (LFS) data shows unemployment fell in June. But so did the number of workers employed, while the unemployment rate also fell. The drop was due to more employees giving up […]

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Canadians Are Quitting Due To Employment Dissatisfaction, and That’s A Good Thing

Daniel Wong — Sat, 09 Jul 2022 18:28:56 +0000

More Canadians are telling their boss, “take this job and shove it,” and it might surprise you to hear this is good news. This week, Statistics Canada (Stat Can) released the results of its June Labor Force Survey (LFS). Amongst mostly positive data was a point not often discussed — quitting due to dissatisfaction. Workers […]

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Canada’s Inflation Is Higher Than Its Jobless Rate — It’s Rare & Bad News

Stephen Punwasi — Thu, 19 May 2022 02:58:53 +0000

Canadian inflation surged to a multi-decade high while the jobless rate plunged to a low. In April, the consumer price index (CPI) remained higher than the unemployment rate. According to the National Bank of Canada (NBF), it’s only happened a couple of times before and it was bad news. Canada’s Inflation Is Now Higher Than […]

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Canadian Unemployment Hit A Record Low, Supporting Higher Interest Rates

Daniel Wong — Sat, 09 Apr 2022 18:53:10 +0000

Canada’s employment market is now beyond hot, and has begun overheating. Statistics Canada (Stat Can) reported March reached a new record low for the unemployment rate. Labor markets running this tight are seen as overheated and contribute to even higher inflation. Experts see this reinforcing the need for higher interest rates — even endorsing a […]

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Canada’s Unemployment Rate Fell To 2019 Levels, Reinforces Need For Rate Hikes

Daniel Wong — Sat, 12 Mar 2022 02:10:46 +0000

Canadian employment made huge gains, as the economy continues to bounce back. Statistics Canada (Stat Can) reported employment increased by 337,000 (+1.8%) jobs in February. Rising jobs pushed the unemployment rate down to just 5.5%, the lowest since May 2019, before public health measures. Experts see the robust employment gains supporting much higher interest rates. […]

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Canada Has A Labor Mismatch, Leading To “Odd” Employment Data: BMO

Daniel Wong — Fri, 13 Aug 2021 01:17:54 +0000

The US is seeing the odd combination of high unemployment and rising job vacancies. Canada has so far been able to avoid that, but signs of it occurring are beginning to appear, according to BMO. Douglas Porter, the bank’s chief economist, took a dive into business hiring data. Businesses are increasingly slowing activity due to […]

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Canadian Job Vacancies Hits A New Record, As 600,000 Positions Sit Empty: BMO

Daniel Wong — Wed, 23 Jun 2021 03:00:50 +0000

Canadian Job Vacancies Hits A New Record, As 600,000 Positions Sit Empty Canada has hundreds of thousands of unfilled jobs, despite elevated unemployment levels. BMO weighed in on the vacancy numbers, which jumped to an all-time high in Q1 2021. Robert Kavcic, the bank’s senior economist, estimates vacancies are now the size of 2.5% of […]

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Canadian Unemployment Is 55% Higher Than G7 Average: OECD

Stephen Punwasi — Tue, 09 Feb 2021 19:58:04 +0000

Canada’s “economy” is recovering faster than expected, but employment is lagging. The Organization for Economic Co-operation and Development (OECD), a group promoting trade between 37 advanced economies, published the latest unemployment rates for member countries. The data shows Canada is significantly behind its G7 peers, with only a few OECD countries worse off. Canada is […]

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