Canadian Employment (August 2020)
Posted on Sep 04, 2020 in Economics
Canadian employment gained 246,000 jobs in August (1.4%, m/m), following a gain of 419,000 in July. Combined with gains in May and June, national employment is now within 1.1 million of its pre-COVID February level. The national unemployment rate fell by 0.7 percentage points to 10.2% from the previous month. August gains were driven by full-time w...Canadian Real GDP Q2 - 2020
Posted on Aug 28, 2020 in Economics
The Canadian economy contracted by 11.5 per cent from the first to the second quarter, or 38.9 per cent on a quarterly annualized basis, the steepest quarterly decline on record going back to 1961. Consumer spending fell 13.1 per cent as the start of the COVID-19 pandemic caused record job losses and prompted stores to close. Business investment wa...UPDATE: COVID-19 Reopening Dashboard
Posted on Aug 26, 2020 in Economics
The BCREA Economics team has created the COVID-19 Reopening Dashboard to help REALTORS® monitor the evolution of the BC economy as the province gradually reopens. This dashboard focuses on the sectors and activities that have been most significantly impacted by the pandemic and the province's subsequent state of emergency.To monitor the province's...
Canadian Retail Sales (June 2020)
Posted on Aug 21, 2020 in Economics
Another good news report. Retail sales were up for a second consecutive month in June by 24% on a seasonally-adjusted basis, this follows a 21% rise in May. Sales were up in all subsectors, with growth primarily led by motor vehicle and parts dealers, as well as clothing. Retail sales in June were 1.3% higher than pre-pandemic levels in February. T...Canadian Inflation (July 2020)
Posted on Aug 19, 2020 in Economics
Canadian inflation, as measured by the Consumer Price Index (CPI) rose by 0.1% in July year-over-year, down from a 0.7% rise in the previous month. Excluding gasoline, the CPI rose by 0.7%. Inflation grew at a slower pace than in June due to a broad-based slowdown in price growth. Prices rose in five of eight components year-over-year, while prices...Canadian Housing Starts (July 2020)
Posted on Aug 11, 2020 in Economics
Canadian housing starts increased by 16% m/m to 245,604 units in July at a seasonally adjusted annual rate (SAAR), which was well above pre-COVID levels . This brought up the national housing starts six month average to 204,376 units SAAR. Housing starts were up across the country with notable growth in the Prairies and Atlantic Canada. In BC, hous...
