Job Market Monitor
Canada
Immigrants in Canada – From 2014 to 2018 their median total income rose from 55 per cent of the median income to 78 per cent
The federal government announced substantial increases in its planned immigration targets: reaching 500 thousand people for the years 2025 and 2026. In this report, we look at some recent evolution of median total incomes of new immigrants so as to inform expectations regarding that policy change. From 2014 to 2018 the median total income of … Continue reading
Canada – Students and new graduates are bearing the brunt of the labour market downturn
The magnitude and pace of Canada’s rising unemployment rate are consistent with trends observed during past recessions. Unlike prior recessions, though, the increase to-date has come without a surge in layoffs – it’s rather taking more time to absorb newly available workers as the population grows rapidly. But it’s students and new graduates rather than … Continue reading
Canada – An economic crisis writes the Fraser Institute
Canada’s Economic Crisis Average per-person incomes in Canada have stagnated from 2016 ($54,154) to 2022 ($55,863). Meanwhile, the United States has seen an increase from $65,792 to $73,565. The average Canadian now earns $17,700 less annually than the average American. Canada ranks just below Louisiana ($57,954) in average per-person income and slightly ahead Kentucky ($54,671). … Continue reading
Canada – A relatively non-competitive and closed business market
Despite population growth and a market size now topping 40 million, Canada remains, compared to the U.S., a relatively non-competitive and closed business market dominated by duopolies and oligopolies. Chosen excerpts by Job Market Monitor. Read the whole story @ Canada’s economic future is looking grim—especially when compared to the U.S. – The Hub
Productivity in Canada – Gone into reverse in the past five years
Not only has Canada’s productivity lagged the U.S. for decades, the trend has actually gone into reverse in the past five years. It is not news that Canada’s productivity performance is listless and lagging U.S. trends. That has been going on for decades. But what is news is that productivity has actually gone into reverse … Continue reading
Canada – The highest population growth rate in any quarter since the second quarter of 1957 (+1.2%)
Canada’s population was estimated at 40,528,396 on October 1, 2023, an increase of 430,635 people (+1.1%) from July 1. This was the highest population growth rate in any quarter since the second quarter of 1957 (+1.2%), when Canada’s population grew by 198,000 people. At the time, Canada’s population was 16.7 million people, and this rapid … Continue reading
Canada – Unprepared for population ageing
Canada long ago missed the chance to properly prepare for the inexorable ageing of its population and its broader implications for healthcare, society and the economy. From 2021 to 2041, the number of seniors (65-plus) will rise from 7,081,800 to 10,869,000, an increase of 3.8 million people.1 Those 75-plus will double and those 85-plus will … Continue reading
Immigration and inflation in Canada – Boost potential growth but imbalances in the housing sector may be exacerbated says Bank of Canada’s report
Canada has seen a significant increase in immigration flows since 2022. While a well-established literature looks at the effects of immigration on specific economic variables or narrowly defined questions, significant gaps remain in our understanding of the broader macroeconomic impacts of a rise in newcomers.1 Moreover, these effects are likely to vary among countries and … Continue reading
Canada – GDP per-capita declined for a fifth straight quarter writes RBC
With population growing rapidly, per-capita growth rates continue to look substantially softer – GDP per-capita declined for a fifth straight quarter in Q3, consistent with a drift higher in the unemployment rate since the spring. Chosen excerpts by Job Market Monitor. Read the whole story @ RBC Royal Bank
Training Programs in Canada – The current package of training programs lacks a coherent framework
Enhancing EI-funded training programs would improve their uptake and help workers who earn little or are vulnerable to job loss and pre-carious work. The federal government spends almost $3 billion a year on training programs, and the 2023 budget set aside an additional $625 million for that in this fiscal year. Much of this money … Continue reading
Population Growth and Housing in Canada – The gap is the widest it’s been in 50 years
A new study published by the Fraser Institute today finds that the gap between the number of homes built in Canada and the number of additional people is the widest it’s been in 50 years. Main Conclusions This research bulletin compares annual population growth in Canada with housing completions between 1972 and 2022. The growth … Continue reading
Future of Work in Canada – 10 Megatrends
A new CERIC-funded report from Creative Futures Studio Inc. sheds light on 10 megatrends that will shape the future of work in Canada. The report, Career Development in 2040, digs into the trends that workers, employers – as well as those who advise them – need to understand to thrive in a labour market facing … Continue reading
Self-Employment in Canada – Fewer nascent businesses
The uncertainty of the pandemic, strong labour markets, and soaring inflation have sped up a decades-long decline in the self-employment rate. Most of the pullback in self-employment comes from businesses with paid help. This could be a problematic trend for small business creation in Canada. Self-employment (with paid help) has become less attractive to Canada’s … Continue reading
Canada : la forte croissance démographique continue de compliquer la situation économique – Desjardins
La récente tendance haussière de la croissance démographique au Canada s’est maintenue au deuxième trimestre de 2023. La croissance démographique a atteint un rythme annuel jamais observé depuis les années 1950 (graphique 1). La quasi-totalité des gains provient de la migration internationale, dont plus de 60 % dans la catégorie des résidents non permanents. Les admissions sous … Continue reading
Canada – Record population growth masks slower economic conditions
Population growth at July 1st (3.0%) marked the highest rate recorded over a 12-month period since 1957. Net international migration accounted for nearly 98% of the growth. Over the past decade, Canada’s pace of population growth has eclipsed much of the world, exceeding India, China, Central and South America, the U.S., and Europe. If this … Continue reading
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