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Statistics Canada Begins Major Workforce Overhaul, Cutting 850 Positions

    Statistics Canada says it will be cutting around 850 of its staff along with 12 per cent of its executive team. Statistics Canada is moving ahead with a major restructuring that will see roughly 850 jobs eliminated , including a portion of its executive ranks. The agency confirmed that it has entered a formal workforce adjustment period, with affected employees set to receive notices over the next two weeks. The cuts are part of a broader federal initiative to reduce public service spending. With more than 7,200 employees as of early 2025, Statistics Canada is among several departments facing significant downsizing as the government seeks long‑term budget efficiencies. Union representatives have raised concerns about the impact on the agency’s ability to maintain the quality and timeliness of national data. Management, however, has emphasized that voluntary departures and early retirement incentives will be used where possible to ease the transition. The announcement m...
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New Mortgage Policies Expected to Drive Canadian Home Prices Higher in 2025

 

According to a recent analysis by TD Economics, new federal mortgage policies are set to boost Canadian home prices in 2025. These policies, which include raising the cap on insured mortgages and extending amortization periods for first-time homebuyers, are expected to provide a secondary tailwind to the housing market.

The new measures, effective December 15, 2024, will increase the insured mortgage cap from $1 million to $1.5 million, allowing more Canadians to qualify for mortgages with lower down payments. Additionally, first-time homebuyers and purchasers of new builds will be able to take out loans with a 30-year amortization period.

TD Economics predicts that these changes will result in home sales and average prices being two to four percentage points higher by the end of 2025 than they would have been without the new policies. However, the report also warns that the initial boost in affordability may erode over time, potentially slowing sales volume and price growth by the end of 2026.

While these policies are not expected to trigger a housing boom on their own, they will complement lower interest rates and improving economic conditions, contributing to a more robust housing market. The changes come amid an ongoing affordability crisis driven by population growth, sluggish new construction, and inflation.

Overall, the new federal mortgage policies aim to make homeownership more accessible to Canadians, particularly younger generations, while also addressing the broader housing market challenges.


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