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Canada’s Job Market Gains Momentum as Unemployment Drops to 6.5%

  I n October, Canada gained 66,600 jobs and the unemployment rate dropped 0.2 percentage points to 6.9 per cent.  Canada’s labour market showed renewed strength in November , with the unemployment rate falling to 6.5% as the economy added 53,000 jobs . This marks a positive shift after months of slower employment growth, suggesting resilience despite global economic uncertainties. Key Highlights: Unemployment Rate: Down to 6.5%, the lowest in several months. Job Creation: 53,000 new positions added, driven largely by full-time employment. Sector Growth: Gains were seen in professional services, healthcare, and construction, reflecting strong demand across diverse industries. Regional Trends: Ontario and British Columbia led the way in job creation, while some provinces experienced more modest growth. Economic Context: Analysts note that the increase in employment could ease concerns about consumer spending and economic slowdown. However, wage pressures and infla...
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Canadian Real Estate Association Forecasts Surge in Home Demand for 2025, Condo Market Remains Flat


The Canadian Real Estate Association (CREA) has released its housing market forecast for 2025, predicting a significant increase in demand for homes across the country. According to CREA, the combination of over two years of pent-up demand and lower borrowing costs is expected to drive a rebound in home sales. The national average home price is projected to rise by 4.7% to $722,221 this year.

However, the forecast for the condo market tells a different story. While demand for single-family homes is expected to surge, the condo market is anticipated to remain relatively flat. This divergence is attributed to changing buyer preferences and the lingering effects of the pandemic on urban living trends.

The forecast also highlights regional variations, with provinces like Alberta and Saskatchewan expected to see higher price gains due to already high sales levels and low inventories. Conversely, Ontario and British Columbia are expected to experience more modest price increases due to their already high housing costs.

Overall, CREA's outlook for 2025 suggests a dynamic and evolving real estate market, with single-family homes leading the charge while condos take a backseat.



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