Time for your cheat sheet on this week’s top stories.
Canadian Real Estate
Canadian Unemployment Stalls As More Young Adults Opt Out Of The Workforce
Canada’s unemployment rate is stabilizing, easing the public’s economic concerns. However, looking past the headline data, we see the problem shifting to a different area. Last month’s job numbers and unemployment rate barely budged, despite the population growing faster than jobs. That was handled with a lower participation rate—more people are opting out of the country’s workforce. This concern is especially problematic for young adults, where a decline often indicates they’re giving up after a prolonged and unsuccessful job search.
Canadian Business Productivity Climbed For The First Time In Years
Canadian business productivity is climbing for the first time in years. Productivity advanced 0.6% in Q4, pushing 2024’s full-year data to show the same annual growth. While not particularly impressive, it was the first annual growth since 2019. Experts are torn on whether this is the start of Canada’s productivity recovery or a temporary trend. The latter concern is sparked by several firms accelerating output ahead of tariff threats and may not have much lasting power.
Toronto Real Estate Prices Rise Despite Sales Collapsing 25% Lower
Toronto real estate prices climbed as a handful of sellers paid more, amidst weakening demand. The price of a typical home advanced 0.4% in February, while home sales fell 25% lower than last year. Aside from the first year of the pandemic, it was the weakest volume of buyers since the 2008 Global Financial Crisis. That also happens to be the year the region last saw inventory at this level.
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