Archive For The “CanadaEconomyMoney” Category

New jobs numbers ‘cement the case’ for an interest rate hike next week: CIBC

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New jobs numbers ‘cement the case’ for an interest rate hike next week: CIBC

Canada’s job market delivered another stellar performance in June by adding 45,300 positions, Statistics Canada said Friday.The number, which vastly surpassed economists’ consensus expectation of 10,000 new jobs, increases the probability that the Bank of Canada (BoC) will raise interest rates at its next rate announcement on July 12.READ MORE: Interest rates could rise July 12: Who…

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Does $15 minimum wage kill jobs? Experts debate Seattle’s results

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Does $15 minimum wage kill jobs? Experts debate Seattle’s results

Seattle is making its way toward $15 an hour minimum wage, and new duelling research argues that it’s both killing low-wage jobs and having no negative impact at all. Story continues below The swift pay hike in the city to $13 an hour — a scheduled step toward the $15 minimum — resulted in low-wage workers…

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A real estate crash would slam Canadian corporations too, study suggests

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A real estate crash would slam Canadian corporations too, study suggests

We all know about Canada’s ballooning household debt. Hardly a day goes by without a headline warning about overstretched Canadians wallets, and policymakers have long been racking their brains about ways to rein-in families’ debt binge.READ MORE: As rates rise, Canadians in debt face risk ‘beyond historical experience’: PBOBut another type of private-sector debt has ballooned…

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Gender equality would boost Canadian GDP by $150B: report

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Gender equality would boost Canadian GDP by $150B: report

Helping women achieve equal opportunities in the workplace could add $150 billion to Canada’s GDP by 2026, according to a new report.Canada doesn’t fare too badly, in terms of gender equality, when compared to other countries, but forward momentum has stalled for the past 20 years, said McKinsey Global Institute (MGI), the business and economics research…

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Jobs on the line as U.S. slated to add new softwood lumber duty

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Jobs on the line as U.S. slated to add new softwood lumber duty

The U.S. will likely slap a 10 per cent anti-dumping duty on Canadian softwood lumber imports on Friday, after imposing a tariff of nearly 20 per cent on the industry in April.Unifor, Canada’s largest private-sector union, has said the forestry sector employs over 200,000 people across the country but warned that some of those jobs…

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Average payments on new mortgages climbing faster than inflation: CMHC

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Average payments on new mortgages climbing faster than inflation: CMHC

TORONTO – Canada’s federal housing agency says the average scheduled monthly mortgage payment for new loans climbed to $1,328 in the fourth quarter of 2016, up 4.6 per cent from $1,269 a year ago.The increase came as house prices continued to rise, particularly in the cities of Toronto and Vancouver and their surrounding areas. READ…

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BUSINESS REPORT: Is an interest rate hike in Canada just around the corner?

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BUSINESS REPORT: Is an interest rate hike in Canada just around the corner?

As we noted on CKNW’s Moneytalks last Saturday, our contrarian view was that the Canadian dollar would begin to strengthen and that an interest rate hike from the Bank of Canada may be a lot closer than the first quarter of 2018.Canada’s balance of trade is noticeably improving, owing to the weaker Canadian dollar, the…

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Housing market a growing threat to financial stability: Bank of Canada

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Housing market a growing threat to financial stability: Bank of Canada

The Bank of Canada says the financial system is becoming increasingly exposed to economic shocks as household debt levels continue to climb and major housing markets remain red hot.But even as it warns the country’s most significant weak spots continue to widen, the central bank says the overall financial system remains resilient.READ MORE: New GDP numbers…

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Federal government set to help softwood industry with $1-billion aid package

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Federal government set to help softwood industry with $1-billion aid package

OTTAWA – Natural Resources Minister Jim Carr is set to unveil about $1 billion in financial supports for softwood lumber producers and their employees.Cabinet discussed the options for a package May 9 but the federal government wanted more input from the provinces via the special working group Carr established in February.A government source confirms Carr…

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IMF warns Canada to protect housing market — for greater good of Canadian economy

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IMF warns Canada to protect housing market — for greater good of Canadian economy

OTTAWA – The International Monetary Fund is warning about the risks to the Canadian economy due to a possible correction in the housing market and urged governments to do more to protect against them.In the preliminary findings of its annual review of the Canadian economy, the IMF said Wednesday that a further tightening of macroprudential…

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