Economy

Jobless rate tops 8.1% in August

Despite the creation of nearly 36,000 new jobs, Canada’s unemployment rate rose to 8.1% in August, according to StatsCan. The net gain of 36,000 jobs may look good at first glance, but it includes the return of 68,000 education workers. The rise in unemployment stems from an increase in the number of people actually looking […]

By Steven Lamb |September 10, 2010

2 min read

Canada’s growth to continue: RBC

Canada’s economy may be slowing, but it will not be stalling. According to the latest Economic Outlook report from RBC, Canada’s economy is on pace to modestly rebound over the second half of the year. RBC is predicting GDP growth of 3.3%. That’s down from 3.6% projected last quarter. “While Canada’s second quarter growth put […]

By John Powell |September 10, 2010

5 min read

More U.S. regions report slower growth: Fed

The Federal Reserve says more regions in the United States are reporting slower growth as a result of the U.S. economy losing momentum in the late summer. Although the economy was still growing in late summer, the Fed says there were “widespread signs of deceleration.” The latest Beige Book survey by the Fed says economic […]

By Wire services |September 8, 2010

1 min read

Bank of Canada raises rates

The Bank of Canada is raising its target for the overnight rate by 25 basis points to 1%, despite what the bank calls an “uneven” economic recovery among advanced economies. “Economic activity in Canada was slightly softer in the second quarter than the Bank had expected, although consumption and investment have evolved largely as anticipated,” […]

By Steven Lamb |September 8, 2010

1 min read