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Canada’s Jobless Rate Rises to 6.8% Despite December Hiring

          A employee sorts batteries on a conveyor belt at a recycling facility in Port Colborne, Ontario. Canada’s unemployment rate climbed to 6.8% in December , even though the economy added 8,200 jobs during the month. The increase in unemployment wasn’t driven by widespread layoffs but by a surge in the number of people entering the labour force and actively looking for work. December Highlights Unemployment rate: Up from 6.5% to 6.8% Employment: Net gain of 8,200 jobs Labour force: Expanded significantly, outpacing job creation Full-time work: Increased Part-time work: Declined Why the Rate Rose Economists point out that the rise in unemployment reflects renewed labour market participation , not a weakening economy. More Canadians felt confident enough to start job hunting, but hiring didn’t keep pace with the influx of job seekers. This marks the fourth straight month of employment growth , yet December also saw the largest increas...
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Canada’s Home Prices Expected to Rise in 2024

 

According to a recent survey by Royal LePage, the national aggregate home prices in Canada increased by 4.3% in the fourth quarter of 2023, with prices expected to continue to rise in 2024. The aggregative price of a home in Canada increased 4.3% year over year to $789,500.

This is good news for homeowners, but it also means that prospective homebuyers will have to pay more for their dream homes. The Canadian real estate market has been on an upward trend for several years, and this trend is expected to continue in 2024.

The Royal LePage House Price survey released on Monday projects that the aggregate price of a home in Canada will increase by 5.5% in the fourth quarter of 2024, compared to the same quarter in 2023.

The Canadian real estate market is expected to remain strong in 2024, with higher prices and increased demand for homes. This is great news for homeowners who are looking to sell their homes, but it also means that prospective homebuyers will have to be prepared to pay more for their dream homes.


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