November 2014 Canadian Economic Fundamentals
- Thread starter Ally
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The death of lifelong jobs
Ask Sandra Poczobut what she does for a living and she takes a deep breath. For the past five years, the answer has changed practically by the day.
Depending on the context, Poczobut (that`s pa-CHA-boot) has called herself an educator, a consultant, an artist or, in the warmer months, a partner in a pop-up food stand that makes the rounds at summer festivals.
Read the full article here.
Ask Sandra Poczobut what she does for a living and she takes a deep breath. For the past five years, the answer has changed practically by the day.
Depending on the context, Poczobut (that`s pa-CHA-boot) has called herself an educator, a consultant, an artist or, in the warmer months, a partner in a pop-up food stand that makes the rounds at summer festivals.
Read the full article here.
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Canadian manufacturing PMI reaches 11-month high in October
The pace of growth in the Canadian manufacturing sector for October hit its strongest level in nearly a year, rebounding from the pull-back in September and helped by an increase in new orders, data showed on Monday.
The RBC Canadian Manufacturing Purchasing Managers` index (PMI), a measure of manufacturing business conditions, rose to a seasonally adjusted 55.3 last month from 53.5 in September. A reading above 50 shows growth in the sector.
Read the full article here.
The pace of growth in the Canadian manufacturing sector for October hit its strongest level in nearly a year, rebounding from the pull-back in September and helped by an increase in new orders, data showed on Monday.
The RBC Canadian Manufacturing Purchasing Managers` index (PMI), a measure of manufacturing business conditions, rose to a seasonally adjusted 55.3 last month from 53.5 in September. A reading above 50 shows growth in the sector.
Read the full article here.
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Canada is back on the property radar
For almost as long as it`s been there, Canada has been brushed off as `America-lite,` or the less important part of North America. It`s dull, a bit too peaceful, not intensely innovative (BlackBerry, IMAX, insulin, standard time and instant replay excepted), its taxes are crazy high and it`s more risk-averse than its southern neighbour. While all that may be true, those same traits have made it one of a handful of countries in the world considered the best to live in, it`s clean, diverse, socially progressive, the population is one of the most highly educated in the world (thanks to subsidised post-secondary education) and transparency, civil liberties and quality of life also rank near the top of international lists. Crime is generally low, health care is strong (subsidies again) and though unemployment is still too high, its cautious banking sector and existing federal surpluses (hello, taxes) helped it weather the GFC of 2008 better than most markets. It`s considered a safe haven for wealth, and it`s not even that cold all the time. The only thing it really has to apologise for is Justin Bieber. Sorry.
Read the full article here.
For almost as long as it`s been there, Canada has been brushed off as `America-lite,` or the less important part of North America. It`s dull, a bit too peaceful, not intensely innovative (BlackBerry, IMAX, insulin, standard time and instant replay excepted), its taxes are crazy high and it`s more risk-averse than its southern neighbour. While all that may be true, those same traits have made it one of a handful of countries in the world considered the best to live in, it`s clean, diverse, socially progressive, the population is one of the most highly educated in the world (thanks to subsidised post-secondary education) and transparency, civil liberties and quality of life also rank near the top of international lists. Crime is generally low, health care is strong (subsidies again) and though unemployment is still too high, its cautious banking sector and existing federal surpluses (hello, taxes) helped it weather the GFC of 2008 better than most markets. It`s considered a safe haven for wealth, and it`s not even that cold all the time. The only thing it really has to apologise for is Justin Bieber. Sorry.
Read the full article here.
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Canada's most and least affordable housing markets
Congratulations, residents of Windsor, Ont., you have Canada`s most affordable housing market.
That`s according to a new survey from Desjardins, which found housing affordability overall declined slightly in the third quarter of this year.
Read the full article here.
Congratulations, residents of Windsor, Ont., you have Canada`s most affordable housing market.
That`s according to a new survey from Desjardins, which found housing affordability overall declined slightly in the third quarter of this year.
Read the full article here.
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Canada's manufacturing sector signals expansion ahead
TORONTO ` A monthly gauge of the Canadian manufacturing sector hit an 11-month high in October.
The RBC Canadian PMI rose to 55.3 last month, up from 53.5 in September and matching a high point set in November last year.
Read the full article here.
TORONTO ` A monthly gauge of the Canadian manufacturing sector hit an 11-month high in October.
The RBC Canadian PMI rose to 55.3 last month, up from 53.5 in September and matching a high point set in November last year.
Read the full article here.
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Bank of Canada still fears low inflation despite balanced outlook
Bank of Canada Governor Stephen Poloz said the central bank remains more worried about too-low inflation even though it believes the upside and downside risks are balanced, sending another signal that interest-rate hikes are more likely to come later than sooner.
`If there were a realization of an upside risk, that actually would be good news, given where we are. However, if we realized a downside risk, that would be a more significant event,` he told a news conference following a speech to the Canadian Council for Public-Private Partnerships annual conference in Toronto.
Read the full article here.
Bank of Canada Governor Stephen Poloz said the central bank remains more worried about too-low inflation even though it believes the upside and downside risks are balanced, sending another signal that interest-rate hikes are more likely to come later than sooner.
`If there were a realization of an upside risk, that actually would be good news, given where we are. However, if we realized a downside risk, that would be a more significant event,` he told a news conference following a speech to the Canadian Council for Public-Private Partnerships annual conference in Toronto.
Read the full article here.
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The challenges and opportunities of our multi-generational workforce
Trotter & Morton Group of Companies' corporate headquarters aren't what you'd expect from a leading construction subcontractor in one of Canada's most prosperous cities.
The nondescript building in an industrial corner of southeast Calgary is a rabbit's warren of narrow staircases and dim hallways -- extensions slapped together as the company has outgrown its footprint time and again.
Read the full article here.
Trotter & Morton Group of Companies' corporate headquarters aren't what you'd expect from a leading construction subcontractor in one of Canada's most prosperous cities.
The nondescript building in an industrial corner of southeast Calgary is a rabbit's warren of narrow staircases and dim hallways -- extensions slapped together as the company has outgrown its footprint time and again.
Read the full article here.
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Calgary condo sector helps boost real estate activity
Calgary`s hot condominium market helped fuel a 10 per cent increase in Calgary`s residential resale housing market in October.
Overall sales for the month totaled 2,147 units, compared with 1,948 during the same period last year, according to the latest statistics from CREBÂ.
Read the full article here.
Calgary`s hot condominium market helped fuel a 10 per cent increase in Calgary`s residential resale housing market in October.
Overall sales for the month totaled 2,147 units, compared with 1,948 during the same period last year, according to the latest statistics from CREBÂ.
Read the full article here.
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Calgary resale housing market continues to sizzle in October
CALGARY - Calgary`s booming resale housing market showed no signs of slowing down in October as MLS sales reached their second highest level ever for the month while prices continued to gain year-over-year.
According to the Calgary Real Estate Board, total MLS sales in the city during the month increased by 10.22 per cent from last year to 2,147. The median price was up by 5.33 per cent to $430,550 while the average sale price rose by 6.50 per cent to $488,474.
Read the full article here.
CALGARY - Calgary`s booming resale housing market showed no signs of slowing down in October as MLS sales reached their second highest level ever for the month while prices continued to gain year-over-year.
According to the Calgary Real Estate Board, total MLS sales in the city during the month increased by 10.22 per cent from last year to 2,147. The median price was up by 5.33 per cent to $430,550 while the average sale price rose by 6.50 per cent to $488,474.
Read the full article here.
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Home sales, prices, rise sharply in Calgary
The hottest housing market in the country is still running strong.
Home sales in Calgary, the heart of Canada`s oil industry, surged by more than 10 per cent in October from a year earlier, while the city`s benchmark price rose by almost as much, up 9.5 per cent.
Read the full article here.
The hottest housing market in the country is still running strong.
Home sales in Calgary, the heart of Canada`s oil industry, surged by more than 10 per cent in October from a year earlier, while the city`s benchmark price rose by almost as much, up 9.5 per cent.
Read the full article here.
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Alberta's Jobs minister lauds plan to boost immigration
Ottawa's plan to boost the number of immigrants allowed into Canada is welcome news for Alberta as the province looks for more workers to meet a labour crunch, provincial Jobs Minister Ric McIver said Friday.
The federal government's immigration plan for 2015 sets a target of 285,000 newcomers, up by about 19,000 for this year.
Read the full article here.
Ottawa's plan to boost the number of immigrants allowed into Canada is welcome news for Alberta as the province looks for more workers to meet a labour crunch, provincial Jobs Minister Ric McIver said Friday.
The federal government's immigration plan for 2015 sets a target of 285,000 newcomers, up by about 19,000 for this year.
Read the full article here.
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Five things to ponder about Calgary's city hall budget
City hall releases its 2015-2018 budget on Tuesday. It`s a $22-billion doozy, a plan that stretches across four years and includes steady tax and rate hikes. But with the city`s population bursting at its seams, even that may not be big enough.
1) The boom: a budget-buster
City manager Jeff Fielding revealed this week that while the four-year budget is based on forecast annual growth of 25,000 new Calgarians, the trend line suggests 35,000 or 40,000. That will mean new roads and fire halls and sewage treatment plants will have to come online sooner than planned, and so will operating dollars to keep those maintained and staffed.
Read the full article here.
City hall releases its 2015-2018 budget on Tuesday. It`s a $22-billion doozy, a plan that stretches across four years and includes steady tax and rate hikes. But with the city`s population bursting at its seams, even that may not be big enough.
1) The boom: a budget-buster
City manager Jeff Fielding revealed this week that while the four-year budget is based on forecast annual growth of 25,000 new Calgarians, the trend line suggests 35,000 or 40,000. That will mean new roads and fire halls and sewage treatment plants will have to come online sooner than planned, and so will operating dollars to keep those maintained and staffed.
Read the full article here.
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Canada upgrades housing forecast
Canada's federal housing agency predicts work on new homes will increase this year and next, compared with an August call for a decline, in another sign of unexpected strength in the real estate market.
Work would begin on 189,500 units in 2015, up from 189,000 this year, which would be an increase from 2013 levels, Canada Mortgage & Housing Corp said in a quarterly forecast. In August, the agency predicted starts would fall this year and next from 2013.
Read the full article here.
Canada's federal housing agency predicts work on new homes will increase this year and next, compared with an August call for a decline, in another sign of unexpected strength in the real estate market.
Work would begin on 189,500 units in 2015, up from 189,000 this year, which would be an increase from 2013 levels, Canada Mortgage & Housing Corp said in a quarterly forecast. In August, the agency predicted starts would fall this year and next from 2013.
Read the full article here.
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Convenience of downtown living leads 2015 real estate trends
TORONTO - Homeowners who choose the convenience of city life over the more generous living space in suburbia are driving Canada's real estate market, according to a new report jointly produced by consultancy PricewaterhouseCoopers and the non-profit Urban Land Institute.
The annual outlook on emerging real estate trends says the move downtown, which has emerged in the past few years, will continue as more Canadians decide to stay in or move back to urban cores.
Much of this is due to changing demographics as young families and millennials forgo the white picket fence and house in the suburbs to take advantage of downtown living, where properties are smaller but offer more conveniences, said the 112-page report released Tuesday.
Read the full article here.
TORONTO - Homeowners who choose the convenience of city life over the more generous living space in suburbia are driving Canada's real estate market, according to a new report jointly produced by consultancy PricewaterhouseCoopers and the non-profit Urban Land Institute.
The annual outlook on emerging real estate trends says the move downtown, which has emerged in the past few years, will continue as more Canadians decide to stay in or move back to urban cores.
Much of this is due to changing demographics as young families and millennials forgo the white picket fence and house in the suburbs to take advantage of downtown living, where properties are smaller but offer more conveniences, said the 112-page report released Tuesday.
Read the full article here.
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Uncertainty killing Canada's economy
OTTAWA - The Canadian economy is having a tough time creating high-quality, top-paying full-time jobs, the country's central bank governor told MPs Tuesday.
But beyond keeping interest rates low to encourage businesses to borrow cheap money to build new factories and create new jobs, there's not much the Bank of Canada can do, bank governor Stephen Poloz said during a Commons finance committee meeting.
Read the full article here.
OTTAWA - The Canadian economy is having a tough time creating high-quality, top-paying full-time jobs, the country's central bank governor told MPs Tuesday.
But beyond keeping interest rates low to encourage businesses to borrow cheap money to build new factories and create new jobs, there's not much the Bank of Canada can do, bank governor Stephen Poloz said during a Commons finance committee meeting.
Read the full article here.
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Canadian oil producers set to cut 2015 spending as price tumbles
CALGARY, Alberta, Nov 4 (Reuters) - Falling oil prices will lead to lower capital spending in Western Canada next year, observers say, as both oil sands and light oil producers look to cope with less cash coming in the door.
North American benchmark oil prices touched $75.84 a barrel on Tuesday, the lowest since October 2011, after Saudi Arabia cut export prices to the United States.
Read the full article here.
CALGARY, Alberta, Nov 4 (Reuters) - Falling oil prices will lead to lower capital spending in Western Canada next year, observers say, as both oil sands and light oil producers look to cope with less cash coming in the door.
North American benchmark oil prices touched $75.84 a barrel on Tuesday, the lowest since October 2011, after Saudi Arabia cut export prices to the United States.
Read the full article here.
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Canadians more house poor than Americans
Sky-high house prices in Vancouver and Toronto are a major reason for a recent finding by BMO Financial Group that average property prices in Canada are now, incredibly, 50 per cent higher than in the U.S.
A BMO graphic reveals an average Canadian house price of $400,000 compared to a U.S. average of $266,000. Both sums are based on prices for single-family homes and are expressed in Canadian dollars.
Read the full article here.
Sky-high house prices in Vancouver and Toronto are a major reason for a recent finding by BMO Financial Group that average property prices in Canada are now, incredibly, 50 per cent higher than in the U.S.
A BMO graphic reveals an average Canadian house price of $400,000 compared to a U.S. average of $266,000. Both sums are based on prices for single-family homes and are expressed in Canadian dollars.
Read the full article here.
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Paid in Alberta
On Tuesday morning, as passengers begin to arrive at the Nanaimo Airport to catch the day's first flights, young men bound for Alberta can be seen sharing goodbyes with friends, family and significant others.Hugs and 'I love yous' are exchanged in anticipation of the weeks ahead, when these couples will again be separated in the name of family-supporting wages harvested from Alberta's oil and gas sector. At 7 a.m., Dean Child arrives in the family pickup with his wife, Joss.
Read the full article here.
On Tuesday morning, as passengers begin to arrive at the Nanaimo Airport to catch the day's first flights, young men bound for Alberta can be seen sharing goodbyes with friends, family and significant others.Hugs and 'I love yous' are exchanged in anticipation of the weeks ahead, when these couples will again be separated in the name of family-supporting wages harvested from Alberta's oil and gas sector. At 7 a.m., Dean Child arrives in the family pickup with his wife, Joss.
Read the full article here.
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BoC governor tells young people to work for free
Bank of Canada Governor Stephen S. Poloz suggested unemployed young workers should work for free in order to build up their resumes.
Poloz voiced his opinions during a speech on youth unemployment to the House of Commons Standing Committee of Finance on Tuesday.
Read the full article here.
Bank of Canada Governor Stephen S. Poloz suggested unemployed young workers should work for free in order to build up their resumes.
Poloz voiced his opinions during a speech on youth unemployment to the House of Commons Standing Committee of Finance on Tuesday.
Read the full article here.