Canada's Jobs Recovery Slowed in October With New Pandemic Restrictions

Posted on Nov 07, 2020 in Economics

Canadian Job Numbers

The October Labour Force Survey, released this morning by Stats Canada, showed an employment increase of 83,600--well below the 378,000 gain in September and average monthly gains of 395,000 over the past six months (see chart below). Several provinces tightened public health restrictions last month in response to a spike in COVID-19 cases. These m...

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BC Covid-19 Reopening Dashboard

Posted on Oct 31, 2020 in Economics

BC Covid Real Estate Sales & StatisticsThe BCREA Economics team has created the COVID-19 Reopening Dashboard to help REALTORS® monitor the evolution of the economy as BC navigates the recovery. This dashboard focuses on the sectors and activities that have been most significantly impacted by the pandemic and the province’s subsequent state of emergency.

To monitor the province’s progress...

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Canadian Monthly Real GDP (August 2020)

Posted on Oct 30, 2020 in Economics

Canadian gdp August 2020Canadian real GDP grew 1.2 per cent in August, following a 3.1 per cent increase in July. That is the fourth consecutive monthly increase in GDP following the steepest contraction of the Canadian economy on record. The overall level of economic output remains about 5 per cent below its per-pandemic level.

Third quarter real GDP growth is currently t...

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Canadian Employment (September 2020)

Posted on Oct 09, 2020 in Economics

Canadian Employment UpdateCanadian employment gained 378.2k jobs in September (2.1%, m/m), following a gain of 245.8k in August. This is the fifth consecutive month of increases, putting national employment within 719.5k of its pre-COVID February level. The national unemployment rate fell by 1.2 percentage points to 9% from the previous month. Gains in the services-producin...

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Canadian Housing Starts (September 2020)

Posted on Oct 09, 2020 in Economics

BC New Housing ConstructionCanadian housing starts decreased by 20% m/m to 208,980 units in September at a seasonally adjusted annual rate (SAAR), following a strong gain of almost 262,000 units in August. This is the first decline after four consecutive months of increases, which was driven by declines in the multi-unit segment in Ontario and BC. The decline was broad-based...

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Canadian Monthly Real GDP (July 2020)

Posted on Sep 30, 2020 in Economics

Canadian Monthly GDP MLS ListingsCanadian real GDP grew 3 per cent in July, following a record 6.5 per cent increase in June. However, even after three consecutive months of strong growth, the Canadian economy remains about 6 per cent below its pre-pandemic level of output. All 20 Canadian industrial sectors posted increases in July, with the real estate sector surpassing its pre...

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