March 2014 Canadian Economic Fundamentals
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Job market can accommodate both Boomers working longer and young workers starting out
TORONTO - Baby boomers are often criticized for many of today's economic woes, from creating the national debt to driving up tuition costs. But studies are discounting one of the biggest complaints _ that boomers lingering in their jobs are holding up the employment of the next generation.
"(Boomers) do take up a large part of the workforce, but there's absolutely no evidence that they're crowding out jobs that otherwise would be filled by young people," said Tammy Schirle, an economics professor at Wilfrid Laurier University.
Read the full article here.
TORONTO - Baby boomers are often criticized for many of today's economic woes, from creating the national debt to driving up tuition costs. But studies are discounting one of the biggest complaints _ that boomers lingering in their jobs are holding up the employment of the next generation.
"(Boomers) do take up a large part of the workforce, but there's absolutely no evidence that they're crowding out jobs that otherwise would be filled by young people," said Tammy Schirle, an economics professor at Wilfrid Laurier University.
Read the full article here.
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Think Gen Y will prop up Canada's housing market? Think again
Hints of the housing market`s undoing can be found in the questions being asked by a 26-year-old, recently graduated, money-saving virtuoso we`ll call Steve.
Heard about all the struggling members of Generation Y who wonder how they`ll ever afford a house? Steve`s not one of them. He graduated with an engineering degree in 2012, landed a full-time job several months later and has been saving aggressively.
Read the full article here.
Hints of the housing market`s undoing can be found in the questions being asked by a 26-year-old, recently graduated, money-saving virtuoso we`ll call Steve.
Heard about all the struggling members of Generation Y who wonder how they`ll ever afford a house? Steve`s not one of them. He graduated with an engineering degree in 2012, landed a full-time job several months later and has been saving aggressively.
Read the full article here.
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Ukraine crisis highlights Canada's role as a stable energy source
The crisis in the Ukraine is highlighting the importance of energy in global geopolitics and the role Canada can play as a growing and stable source of supply, Natural Resources Minister Joe Oliver said Tuesday.
The minister travelled to America`s energy capital to tout Canada`s potential to supply not only oil sands crude to the U.S. Gulf Coast through the Keystone XL pipeline, but oil and natural gas to the world.
Read the full article here.
The crisis in the Ukraine is highlighting the importance of energy in global geopolitics and the role Canada can play as a growing and stable source of supply, Natural Resources Minister Joe Oliver said Tuesday.
The minister travelled to America`s energy capital to tout Canada`s potential to supply not only oil sands crude to the U.S. Gulf Coast through the Keystone XL pipeline, but oil and natural gas to the world.
Read the full article here.
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Enbridge to spend $7 billion to nearly double capacity of cross-border pipeline
CALGARY ` Enbridge Inc. said it will spend $7-billion to nearly double capacity on a major Canada-to-U.S. oil pipeline without triggering a review by the U.S. State Department, skirting potential delays that have sidelined rival export projects.
Calgary-based Enbridge said late Monday it has support from customers to build a new pipeline between Hardisty, Alta. and Superior, Wisc. to replace a 46-year-old conduit that is running at nearly half its design capacity. It said the new line would start up by the second half of 2017, boosting shipments of fast-growing Canadian crude production to the U.S. and trimming the company`s maintenance bill by $1.1-billion.
Read the full article here.
CALGARY ` Enbridge Inc. said it will spend $7-billion to nearly double capacity on a major Canada-to-U.S. oil pipeline without triggering a review by the U.S. State Department, skirting potential delays that have sidelined rival export projects.
Calgary-based Enbridge said late Monday it has support from customers to build a new pipeline between Hardisty, Alta. and Superior, Wisc. to replace a 46-year-old conduit that is running at nearly half its design capacity. It said the new line would start up by the second half of 2017, boosting shipments of fast-growing Canadian crude production to the U.S. and trimming the company`s maintenance bill by $1.1-billion.
Read the full article here.
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Why Stephen Poloz will wait until after the spring housing market to think about changing rates
Economist Derek Holt has an interesting take on this morning`s policy statement from the Bank of Canada.
Economists generally expect to see little change from the central bank, and suggest governor Stephen Poloz couldn`t get more `dovish` than he already is.
Read the full article here.
Economist Derek Holt has an interesting take on this morning`s policy statement from the Bank of Canada.
Economists generally expect to see little change from the central bank, and suggest governor Stephen Poloz couldn`t get more `dovish` than he already is.
Read the full article here.
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BMO says price competition heating up among homebuyers in 2014
TORONTO, ONTARIO -- (Marketwired) -- 03/05/14 -- According to the BMO Home Buying Report released today, more Canadians are willing to fight it out to secure a property, with 34 per cent of Canadians willing to enter a bidding war when it's time to buy a home, an increase of 6 points, or 21 per cent, from a year ago.
Read the full article here.
TORONTO, ONTARIO -- (Marketwired) -- 03/05/14 -- According to the BMO Home Buying Report released today, more Canadians are willing to fight it out to secure a property, with 34 per cent of Canadians willing to enter a bidding war when it's time to buy a home, an increase of 6 points, or 21 per cent, from a year ago.
Read the full article here.
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More homebuyers open to bidding wars in 2014
TORONTO -- More Canadians are willing to enter a bidding war and fight it out to secure a property, according to a home buying report released today by BMO Economics.
It says 34 per cent of Canadians surveyed are willing to enter a bidding war when it's time to buy a home, an increase of six points, or 21 per cent, from a year ago.
Read the full article here.
TORONTO -- More Canadians are willing to enter a bidding war and fight it out to secure a property, according to a home buying report released today by BMO Economics.
It says 34 per cent of Canadians surveyed are willing to enter a bidding war when it's time to buy a home, an increase of six points, or 21 per cent, from a year ago.
Read the full article here.
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Record home building in Canada drives spike in building permits
Record Canadian housing construction led a faster-than-expected gain in building permits in January, government data showed one day after the central bank predicted a soft landing in the country`s real estate market. The value of residential building permits granted by municipalities jumped 26.3% to $4.60 billion ($4.18 billion), Statistics Canada said Thursday from Ottawa. One of the largest municipal gains was led by multiple-unit housing in Vancouver, a market that policy makers have said is most at risk from overbuilding.
Read the full article here.
Record Canadian housing construction led a faster-than-expected gain in building permits in January, government data showed one day after the central bank predicted a soft landing in the country`s real estate market. The value of residential building permits granted by municipalities jumped 26.3% to $4.60 billion ($4.18 billion), Statistics Canada said Thursday from Ottawa. One of the largest municipal gains was led by multiple-unit housing in Vancouver, a market that policy makers have said is most at risk from overbuilding.
Read the full article here.
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Underemployment is Canada's real labour market challenge
Each month, Statistics Canada releases its unemployment rate, and many use it to talk about job creation in Canada. Monthly unemployment rates move up and down, making headlines but revealing little. As work patterns change, with greater use of part-time employees and other forms of precarious labour, the headline unemployment rate becomes less and less useful on its own. The labour force is comprised of far more than simply employed and unemployed workers.
A broader and longer-term analysis, and better labour market indicators are required to give insight into the various ways that workers in Canada responded to the recession and weak economic recovery. This paper takes an in-depth look at the recovery and the current state of the labour market, to highlight current challenges in the way we look at the labour market, and propose alternative indicators that should be part of Statistics Canada`s monthly releases to better inform the public about the real state of the labour market.
Read the full article here.
Each month, Statistics Canada releases its unemployment rate, and many use it to talk about job creation in Canada. Monthly unemployment rates move up and down, making headlines but revealing little. As work patterns change, with greater use of part-time employees and other forms of precarious labour, the headline unemployment rate becomes less and less useful on its own. The labour force is comprised of far more than simply employed and unemployed workers.
A broader and longer-term analysis, and better labour market indicators are required to give insight into the various ways that workers in Canada responded to the recession and weak economic recovery. This paper takes an in-depth look at the recovery and the current state of the labour market, to highlight current challenges in the way we look at the labour market, and propose alternative indicators that should be part of Statistics Canada`s monthly releases to better inform the public about the real state of the labour market.
Read the full article here.
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Economy sheds 7,000 jobs in February
OTTAWA - Canada's jobs market continues to sputter as the economy gave back some of January's gains by shedding 7,000 workers overall in February, a disappointment to those hoping for a strong start to the year.
The loss was tiny in relative terms and insufficient to alter the 7.0 per cent unemployment rate
Read the full article here.
OTTAWA - Canada's jobs market continues to sputter as the economy gave back some of January's gains by shedding 7,000 workers overall in February, a disappointment to those hoping for a strong start to the year.
The loss was tiny in relative terms and insufficient to alter the 7.0 per cent unemployment rate
Read the full article here.
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'West is best' on job creation, economists agree
When it comes to job creation in Canada, there`s Alberta and then there`s everybody else.
The latest employment data for February showed the oil-rich western province created an impressive 18,800 jobs, largely in construction, mining and oil and gas, while in the rest of the country overall employment fell.
Economists warn against staking too much on any one-month data point, but the February result is no outlier.
Read the full article here.
When it comes to job creation in Canada, there`s Alberta and then there`s everybody else.
The latest employment data for February showed the oil-rich western province created an impressive 18,800 jobs, largely in construction, mining and oil and gas, while in the rest of the country overall employment fell.
Economists warn against staking too much on any one-month data point, but the February result is no outlier.
Read the full article here.
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Job growth in Canada comes down to Alberta
OTTAWA ` When it comes to job creation in Canada, there`s Alberta and then there`s everybody else.
The latest employment data for February showed that the oil-rich western province created an impressive 18,800 jobs, largely in construction, mining and oil and gas, while in the rest of the country overall employment fell.
Read the full article here.
OTTAWA ` When it comes to job creation in Canada, there`s Alberta and then there`s everybody else.
The latest employment data for February showed that the oil-rich western province created an impressive 18,800 jobs, largely in construction, mining and oil and gas, while in the rest of the country overall employment fell.
Read the full article here.
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Quality of new jobs on the decline
The vast majority of jobs created last year were part-time positions in what a new report calls a `lacklustre` year for Canada`s labour market.
Almost 95 per cent of net new positions were part-time, according to the Canadian Chamber of Commerce`s analysis of the 2013 labour market, a year that saw the weakest job growth since 2009.
Read the full article here.
The vast majority of jobs created last year were part-time positions in what a new report calls a `lacklustre` year for Canada`s labour market.
Almost 95 per cent of net new positions were part-time, according to the Canadian Chamber of Commerce`s analysis of the 2013 labour market, a year that saw the weakest job growth since 2009.
Read the full article here.
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Keystone XL - a pipeline for suckers
Most people have heard the saying, `if you sit down at a poker game and don`t see a sucker, get up ` it`s you.` For Canada, and the issue of the Keystone XL pipeline, all that can be said is, `Stand up, Canada. And fast.`
Canada has only one customer for its oil ` the United States. So it`s no surprise that the Canadian government has been at the table playing every card it can to push for the Keystone pipeline to the U.S. But it`s taken time, and as months became years, a funny thing happened: The U.S. became an oil-extraction juggernaut.
Read the full article here.
Most people have heard the saying, `if you sit down at a poker game and don`t see a sucker, get up ` it`s you.` For Canada, and the issue of the Keystone XL pipeline, all that can be said is, `Stand up, Canada. And fast.`
Canada has only one customer for its oil ` the United States. So it`s no surprise that the Canadian government has been at the table playing every card it can to push for the Keystone pipeline to the U.S. But it`s taken time, and as months became years, a funny thing happened: The U.S. became an oil-extraction juggernaut.
Read the full article here.
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Survey reveals Canadian employers are wary of new hiring
Canadian employers have turned more cautious about hiring, particularly those in manufacturing-heavy Central Canada.
Hiring intentions fell to a four-year low of 9 per cent for the second quarter, down two percentage points from the prior quarter and three points from the same time last year, Manpower`s quarterly employment survey to be released Tuesday shows. Employers in Quebec are the most cautious for the April-to-June period while the West leads in hiring plans.
Read the full article here.
Canadian employers have turned more cautious about hiring, particularly those in manufacturing-heavy Central Canada.
Hiring intentions fell to a four-year low of 9 per cent for the second quarter, down two percentage points from the prior quarter and three points from the same time last year, Manpower`s quarterly employment survey to be released Tuesday shows. Employers in Quebec are the most cautious for the April-to-June period while the West leads in hiring plans.
Read the full article here.
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New home construction heats up, led by condos
Canada Mortgage and Housing Corp. says the pace of housing starts, or rate of construction on new homes, picked up in February.
The agency estimates there were 11,097 actual starts in February, which extrapolated out over 12 months gives a seasonally adjusted annual rate of 192,094 starts, up from 180,481 in January.
Read the full article here.
Canada Mortgage and Housing Corp. says the pace of housing starts, or rate of construction on new homes, picked up in February.
The agency estimates there were 11,097 actual starts in February, which extrapolated out over 12 months gives a seasonally adjusted annual rate of 192,094 starts, up from 180,481 in January.
Read the full article here.
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February 2014 housing starts in Canada
OTTAWA, ONTARIO`(Marketwired ` March 10, 2014) - Housing starts in Canada were trending at 192,236 units in February compared to 191,513 in January, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR)(1) of housing starts.
`The trend in housing starts remained stable in February for the seventh consecutive month. Since August 2013, the trend has essentially remained in the 185,000 to 195,000 range, with month-to-month variations generally of two per cent or less. This is in line with CMHC`s outlook calling for a stable housing market in 2014,` said Mathieu Laberge, Deputy Chief Economist at CMHC.
Read the full article here.
OTTAWA, ONTARIO`(Marketwired ` March 10, 2014) - Housing starts in Canada were trending at 192,236 units in February compared to 191,513 in January, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR)(1) of housing starts.
`The trend in housing starts remained stable in February for the seventh consecutive month. Since August 2013, the trend has essentially remained in the 185,000 to 195,000 range, with month-to-month variations generally of two per cent or less. This is in line with CMHC`s outlook calling for a stable housing market in 2014,` said Mathieu Laberge, Deputy Chief Economist at CMHC.
Read the full article here.
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Why the doomsayers are wrong about Canada's housing market
Canada`s housing market isn`t as frothy as some pessimists warn.
A Globe and Mail analysis has found that a key measure, used by economists, underestimates the degree to which rents have been rising in the market. That inflates what is known as the price-to-rent ratio, feeding into fears that the market is overheated.
Read the full article here.
Canada`s housing market isn`t as frothy as some pessimists warn.
A Globe and Mail analysis has found that a key measure, used by economists, underestimates the degree to which rents have been rising in the market. That inflates what is known as the price-to-rent ratio, feeding into fears that the market is overheated.
Read the full article here.