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Canada’s Economy Has Now Stalled Twice. Is Your Emergency Fund Ready?

  Canada’s Economy Has Now Stalled Twice. Is Your Emergency Fund Ready? Canada's economy is losing momentum, and it is a good time to ask yourself an important question: If your income disappeared tomorrow, how long could you cover your bills without borrowing money? Statistics Canada's latest GDP report, released October 30, showed that Canada's economy recorded virtually no growth in August for the second consecutive month. An early estimate suggests economic activity contracted by 0.1% in September. Preliminary figures indicate that the economy grew by just 0.3% during the third quarter, although the official numbers have yet to be released. The slowdown follows a period of economic uncertainty, elevated household expenses and pressure on borrowers. While these figures do not confirm that Canada is entering a recession, they highlight why households should prepare for unexpected financial setbacks. The good news? You do not need a large income to start building a financi...
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Canada’s Job Market Remains Steady in December 2023



Canada’s economy added just 100 jobs in December and the unemployment rate held steady at 5.8 per cent, according to Statistics Canada. Employment growth slowed in the second half of 2023, averaging 23,000 per month, compared with the first six months of 2023, when it averaged 48,000 per month. At the same time, average hourly wages increased 5.4 per cent year-over-year, following a rise of 4.8 per cent in November.

Canada’s job market remained steady in December 2023, with the economy adding just 100 jobs and the unemployment rate holding steady at 5.8 per cent, according to Statistics Canada. The data agency said that employment was virtually unchanged from November, following an increase of 25,000 jobs the previous month. Employment growth slowed in the second half of 2023, averaging 23,000 per month, compared with the first six months of 2023, when it averaged 48,000 per month. At the same time, average hourly wages increased 5.4 per cent year-over-year, following a rise of 4.8 per cent in November. This is a significant increase in wages, which could help to offset the slower employment growth in the second half of the year.


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