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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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Toronto Home Sales Fall in July After June Uptick, Prices Slightly Up

 

In July, Greater Toronto area home sales experienced a month-to-month decline of 1.7%, following a surprising 3.2% rise in June. These figures, reported by the Toronto Regional Real Estate Board (TRREB), broke a four-month streak of declining home deals. Despite this dip, average home prices edged up by 0.2% to reach C$1.13 million, the highest since December. Meanwhile, new listings decreased by 0.8%. 

The market’s anticipation of further rate cuts from the Bank of Canada has contributed to rising demand, with the central bank already reducing its key policy rate twice this year. As the cost of borrowing is expected to decline further, TRREB President Jennifer Pearce predicts accelerated sales due to lower monthly mortgage payments. On a year-over-year basis, sales were up by 3.28% in July, and new listings increased by 18.47%. Toronto, accounting for two-thirds of the country’s condominium sales, remains a bellwether for other major metropolitan areas.

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