Canada’s job market continued on its path to recovery from the effects of COVID-19 by adding 418,500 jobs in July, beating expectations of 380,000.
July was a record-breaking month, with 11,081 homes sold, according to new data from the Toronto Regional Real Estate Board/=.
Data from the Real Estate Board of Greater Vancouver (REBGV) show 3,128 homes were sold in July, a 22.3 per cent increase from the 2,557 sold during the same month last year.
Canada’s economy bounced back in May after being crippled by the unprecedented economic effects of COVID-19 in the previous two months. Real GDP grew 4.5 per cent in May.
The COVID-19 pandemic has helped cool Toronto’s condo market to levels not seen since the Great Recession. According to a new report by Urbanation 1,385 units changed hands in the Greater Toronto Area (GTA) during the second quarter of 2020. That’s the fewest since the first quarter of 2009 when only 885 units were sold.
Canadians who owe the tax man are getting another reprieve because of COVID-19. The Canada Revenue Agency (CRA) says the deadline to pay has been extended from September 1st to September 30th. The new deadline applies to individual, corporate, and trust income tax returns, including instalment payments.
The lumber industry has been caught off guard by Canadians' financial resilience during COVID-19, resulting in shortages derailing home improvement plans.
The federal government has reached an agreement with the provinces and territories for more than $19 billion in transfers as part of the safe restart agreement.
The Canadian Real Estate Association (CREA) says national home sales jumped 63 per cent month-over-month in June. Sales are up 150 per cent from April.
Nearly all businesses can enter stage 3 of Ontario’s reopening plan on Friday, but a regional approach to the COVID-19 pandemic means parts of the province will not be included.
Canada added 952,900 jobs in June, surpassing estimates of 700,000 positions, as economies across the country continued to partially reopen during the COVID-19 pandemic.
For the first time ever, net federal debt is projected to hit $1.2 trillion, and federal debt-to-GDP is expected to hit 49.1 per cent.
The Toronto Regional Real Estate Board says the average price of a home in June was $930,869 – up 11.9 per cent compared to June 2019.
Even as economies across Canada gradually reopen, Canadian consumers and businesses worry about the effects of COVID-19.
If you qualify for the Old Age Security pension, you can start getting it when you turn 65, but you can get more money each month if you defer it.
A non-profit organization wants to get unclaimed cash into the hands of British Columbians, especially since money is tight for so many amid COVID-19.
Prime Minister Justin Trudeau says eligibility for the Canada Emergency Response Benefit (CERB), which was launched to help Canadians make ends meet during the COVID-19 pandemic, has been extended by 8 weeks. Its 16 week period was set to expire in the first week of July, for millions who applied when it was first introduced.
CREA national home sales rose 56.9 per cent compared to April, which is a record monthly increase. However, it was the worst showing for May since 1996.
Canadians fortunate enough to still have a job during the COVID-19 pandemic remain loyal to their employers, but are divided when it comes to going back to their workplaces. According to a survey conducted by Angus Reid on behalf of ADP Canada, 28 per cent said loyalty has increased because of their company’s response to the pandemic. The feeling was stronger for women (33 per cent) compared to men (23 per cent).
The federal government is partnering with the private sector on the POST (People Outside Safely Together) promise program, an initiative that calls on businesses to commit to 5 key public health measures to help protect customers and employees.
Ontario is easing restrictions on gatherings across the province and allowing more businesses in regions that haven’t been hit as hard by COVID-19 to reopen.
The Canadian economy added 289,600 jobs in May, as parts of the economy reopened during the COVID-19 pandemic.
Qualifying for a mortgage is about to get harder for anyone that doesn’t have at least 20 per cent down payment for a home, which is likely to have the biggest effect on first-time buyers.
Friday’s jobs numbers for May won’t paint a pretty picture of the Canadian economy, but it’s not expected to be nearly as ugly as the previous two months.