July 2014 Canadian Economic Fundamentals

[Ally]

Most Canadians unfazed by worst labour market slump since 2009





Canada's worst labour-market slump since the 2009 recession, a source of worry for policy makers, is hardly being noticed.





The share of Canadians who say their jobs are secure, more than two-thirds of respondents in weekly Nanos Research Group polling, has remained elevated in recent months, even as few new jobs are created and the jobless rate ticks up.





Read the full article here.

 

[Ally]

Why we mistrust the resource sector





A new survey from the Canada West Foundation confirms what most of us probably already suspected: Many of us don`t trust the resource sector, with British Columbians being the least trusting overall.





The survey, generously shared with Resource Works, builds on the work the Canada West Foundation recently published around the resource sector`s challenges winning social licence.





Read the full article here.

 

[Ally]

TD says Poloz won't cut rates





The TD here.

 

[Ally]

Poloz 'serially disappointed' about economy





OTTAWA - Bank of Canada governor Stephen Poloz says the economy is still not strong enough to stand on its own and will likely need the boost from super-low interest rates for longer than he thought even three months ago.





The central banker said at a news conference following release of the institution's monetary policy report and interest rate announcement Wednesday that the long-expected global recovery has been a "serial disappointment."





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[Ally]

Finance Minister: Deficit no way to create jobs





OTTAWA (CP) ` Finance Minister Joe Oliver is rejecting a recommendation from a report issued by the C.D. Howe Institute that he focus more on creating jobs than eliminating a tiny deficit.The report by McMaster University economics professor William Scarth argues that keeping the deficit at 0.5 per cent of GDP for the next three years could lower the unemployment rate by 0.4 per cent, or create the equivalent of 75,000 additional jobs.





Read the full article here.

 

[Ally]

Job losses stalling economy





TIMMINS - The latest job numbers offer yet more confirmation that most of the Canadian economy is stalled.





More than 9,000 jobs were lost in June.





Combined with the 16,000 people who entered the labour force, unemployment is up 25,000 (not including those who have given up looking for work altogether).





Read the full article here.

 

[Ally]

CMHC turns up scrutiny of condo investors as concerns of overheated market grow





Canada`s housing agency is set to publish results of a Toronto and Vancouver condominium-owner survey as it seeks to address economist and policy maker concern that not enough is known about what`s driving price gains, documents show.





Canada Mortgage & Housing Corp. surveyed condo investors ` those who purchased at least one condo that isn`t the owner`s primary residence ` in August and September 2013, according to documents obtained by Bloomberg through an Access to Information request. Most of the content, including the number of people Ottawa-based CMHC contacted, the survey questions and the results, was redacted.





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[Ally]

Many factors contribute to home prices





Over the past few weeks there have been several news stories suggesting the Canadian "housing boom is over." Even though the Canadian Real Estate Association stated close to a seven percent spike in the average price of the average home, many housing pundits are suggesting that the housing market is cooling and the boom is over.





Read the full article here.

 

[Ally]

Five-year mortgages holding firm, but just wait





Five-year fixed mortgage rates tend to roughly track the yields on five-year government of Canada bonds, because those influence the cost of the funds that the banks obtain to lend out. Yields on five-year government of Canada bonds have fallen. They ended last year at 1.95 per cent, and this week were below 1.50 per cent.





`If you went back to the start of the year, there was an absolute consensus that bond yields were going to head higher,` explains Toronto-Dominion Bank chief economist Craig Alexander. `Not dramatically, but there was an absolute consensus that bond yields would be increasing through the course of 2014. So, one of the big surprises this year has been the drop in bond yields.`





Read the full article here.