Summer Sunshine Fails to Reach the Labour Market in May

Canadian Economics    June 7, 2024

The economy has now added a monthly average of 39,000 jobs over the first five months of the year, a respectable pace given the headwinds caused by high interest rates. However, these gains pale in comparison to the growth of Canada’s working age population, which this year has grown at a searing pace of over 100,000 per month, or, in annualized terms, 3.7 per cent.

Quick take  •  2-min read
Liam Daly

Trade Deficit Narrows to $1.0 Billion in April

Canadian Economics    June 6, 2024

Canada’s merchandise exports were up 2.6 per cent in April on the back of higher exports of energy products, while imports rose 1.1 per cent mainly due to higher imports of motor vehicles and parts. As a result, Canada’s merchandise trade deficit narrowed to $1.0 billion in April.

Quick take  •  2-min read
David Ristovski

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The Bank of Canada Cuts Rates for the First Time Since March 2020

Canadian Economics    June 5, 2024

Labor market conditions are still favourable for rate cuts, despite April’s employment surprise. April’s employment increase (+90,000) was the largest employment gain in the last 12 months and came above predictions. However, the rosy job numbers were tamped down from a large increase in Canada’s population (over 100,000).

Quick take  •  3-min read
Walter Bolduc

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