This quarter, we consider the effects of elevated price growth, continuing high interest rates, and the vagaries of the employment landscape on Canada’s economic outlook.
The consumer price index continues its above-target growth, and recession threatens. What effect will the resulting household savings rates and dampened consumer spending have on Canada’s medium-term economic health? What dynamics will affect labour demand and unemployment, and how does international migration factor in? We share our outlook for household consumption and the labour market, including the forces that will help or hinder employment growth over the period.
Read the impact paper to get our full analysis.
Labour and households snapshot
Labour market outlook
When will consumers’ resilience wane?