Unemployment in Canada
Canada - UnemploymentThe economy likely recovered markedly in Q3. Monthly GDP increased solidly in July, while projections pointed to another healthy expansion for August. Moreover, in September, the unemployment rate fell 1.2 percentage points from the month prior, with the labor market recouping roughly 76% of the jobs lost in March and April. Furthermore, retail sales grew modestly in August, while a flash estimate pointed to a flat reading for September, hinting at stronger private consumption in Q3. In addition, residential investment likely rebounded notably in Q3, as suggested by a surge in housing starts during the quarter. That said, daily crude oil production contracted slightly in July from June, pointing to a subdued energy sector. In politics, Prime Minister Trudeau survived a confidence vote on 21 October thus avoiding a snap election, amid a tightening of some Covid-19 restrictions in recent weeks.
Canada - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Canada Unemployment Chart
Source: Statistics Canada.
|Bond Yield||1.70||1.00 %||Dec 31|
|Exchange Rate||1.30||0.15 %||Jan 01|
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June 16, 2021
Consumer prices rose a seasonally-adjusted 0.36% in May over the previous month, moderating from the 0.58% increase logged in April.
June 9, 2021
At its meeting on 9 June, the Bank of Canada (BoC) held its target for the overnight rate at 0.25%—its effective lower bound—in line with market analysts’ expectations.
May 19, 2021
Consumer prices rose a seasonally-adjusted 0.58% in April over the previous month, accelerating from the 0.14% increase logged in March.
May 19, 2021
According to the Teranet-National Bank Composite House Price Index, house price growth accelerated to 2.4% on a month-on-month non-seasonally-adjusted basis in April, from March’s 1.5%.
May 17, 2021
Housing starts fell to 268,631 units on a seasonally-adjusted annualized rate (SAAR) basis in April according to the Canada Mortgage and Housing Corporation (CMHC), down from March’s 334,759-unit reading.