Economics

Canadian Housing Starts (July 2020)

Posted on Aug 11, 2020 in Economics

BC Housing - New Construction July 2020Canadian housing starts increased by 16% m/m to 245,604 units in July at a seasonally adjusted annual rate (SAAR), which was well above pre-COVID levels . This brought up the national housing starts six month average to 204,376 units SAAR. Housing starts were up across the country with notable growth in the Prairies and Atlantic Canada.

In BC, hous...

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Canadian Employment (July 2020)

Posted on Aug 07, 2020 in Economics

July 2020 Employment UpdateCanadian employment grew by 419,000 jobs in July (2.4%, m/m). Combined with gains in May of 290,000 and gains in June of 953,000, this brought national employment to within 1.3 million of the pre-COVID February level. The national unemployment rate fell by 1.4 percentage points to 10.9 per cent from the previous month. Most of the employment gains...

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COVID-19 Reopening Dashboard & Update

Posted on Jul 29, 2020 in Economics

BCREA Covid 19 UpdateThe BCREA Economics team has created the COVID-19 Reopening Dashboard to help REALTORS® monitor the evolution of the BC economy as the province gradually reopens. 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...

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Canadian Inflation (June 2020)

Posted on Jul 22, 2020 in Economics

BC Canadian Inflation - June 2020Canadian inflation, as measured by the Consumer Price Index (CPI) rose by 0.7% in June year-over-year, up from a 0.4% decline in May. June saw the fastest rise in the CPI since March 2011. Prices rose in five of eight components year-over-year, with food and shelter prices driving the increase. Rents rebounded in June, rising 0.6% from the previous...

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Canadian Retail Sales (May 2020)

Posted on Jul 21, 2020 in Economics

May 2020 - Canadian Retail SalesA good news report. The easing of pandemic restrictions across the country led to an 18.7% surge in seasonally-adjusted Canadian retail sales in May to $42 billion. Leading the growth was motor vehicle and parts dealers, followed by an increase in sales in almost all other subsectors. Although sales increased in May, retail sales remain 20% below p...

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Canadian Employment (June 2020)

Posted on Jul 10, 2020 in Economics

BC Employment - June 2020Canadian employment grew by 953,000 jobs in June (5.8%, m/m). This, combined with the increase in May, represents 40 per cent of the jobs lost in March and April. The national unemployment rate fell by 1.4 percentage points to 12.3 per cent from the previous month. The employment gains in June were somewhat evenly split between full-time work (488...

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