In April 2025, Canada's unemployment rate climbed to 6.9%, up from 6.7% in March, marking the highest jobless rate in over three years. This exceeded market forecasts of 6.8% and reflects the growing strain on businesses, particularly from U.S.-imposed tariffs targeting critical sectors like aluminum, steel, and autos. The number of unemployed individuals surged by 39,300, bringing the total to...
Owning a home in Canada is a major life goal for many, but the journey doesn't end once you get the keys. Between rising interest rates, inflation, and economic uncertainty, maintaining homeownership can be just as challenging as achieving it. Fortunately, Canadian homeowners have access to a variety of federal, provincial, and lender-specific programs designed to offer financial relief, encourage smart...
On May 6, 2025, Canadian Prime Minister Mark Carney met with U.S. President Donald Trump at the White House, marking their first official engagement since Carney's election victory. The meeting, while cordial in tone, underscored significant differences on key issues affecting the Canadian economy and housing market. Key Outcomes from the Carney-Trump Meeting 1. Firm Rejection of Annexation...
B.C.’s film sector is bracing for potential fallout after U.S. President Donald Trump announced a plan to impose 100% tariffs on films produced outside the United States. Declaring that the American film industry is “dying a very fast death,” Trump posted on Truth Social that these tariffs are meant to push production back to U.S. soil, citing foreign tax incentives as a key threat to...
1. The "Build Canada Homes" Initiative Central to Carney's housing strategy is the "Build Canada Homes" (BCH) program, aiming to double the nation's annual housing construction to 500,000 units. This ambitious plan includes: Federal Involvement in Housing Development: The federal government plans to actively participate in building homes, a departure from previous approaches that relied heavily on...
Canada’s economic momentum took a step back in February 2025, as new GDP figures reveal a 0.2% monthly decline—an unexpected turn following a strong 0.4% gain in January. The latest data from Statistics Canada show broad weakness across sectors, with 12 of 20 major industries reporting contraction. Service-producing industries saw a modest 0.1% dip, while goods-producing sectors shrank more sharply...
After showing early signs of recovery, British Columbia’s housing market has taken an unexpected turn in 2025, largely due to rising global economic uncertainty. Hopes for a stable rebound were derailed by an escalating trade war that’s shaking confidence among buyers and investors alike. Home sales in BC had been climbing steadily since October 2024, reaching a promising pace in January of this...
The Bank of Canada held its target for the overnight rate at 5% during its March meeting and pledged to continue normalizing the Bank’s balance sheet, as policymakers remained concerned about risks to the outlook for inflation. The bank stated that it will persist in its policy of quantitative tightening until it observes further and sustained easing in core inflation. The latest data revealed that CPI...
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