A new research note from BMO Capital Markets warns that young adults are facing the “gruesome twosome”—soaring unemployment and unaffordable housing. The combination has created an environment on par with the country’s worst recessions. Canadian unemployment is rising at an unusually rapid pace—but almost exclusively for young adults. The youth (15-24 years old) unemployment rate has climbed to 14.5% in August. Outside of the recent pandemic, this is the highest level in over a decade. https://betterdwelling.com/canadian-young-adults-face-soaring-unemployment-unaffordable-housing-bmo/

A bad job market is a bad job market, right? That’s the problem—it’s not that bad. The bank highlights that recent immigrants face an unemployment rate 7 points higher than the general population. He charted the unemployment rate gap between immigrants over time and those born in Canada. What he found is that the current scenario is far from normal. https://betterdwelling.com/canadian-immigration-policy-isnt-helping-anyone-bmo/

Nearly half a million Canadians accessing EI as unemployment surges: StatsCan 🇨🇦 #resigntrudeau 🇨🇦 🇨🇦 #NoMoreLiberalsAndNDP 🇨🇦 🇨🇦 #SayingTheQuietPartOutLoud 🇨🇦 https://www.minds.com/newsfeed/1674756804627664902?referrer=john_f_burke via @truenorthcentre

The NBF report further reinforces earlier data that suggests headwinds are approaching. Earlier this year, the Bank of Canada (BoC) warned that unemployment is expected to rise, and most of the increase will be felt by young adults. Young adults can’t win these days, eh? https://betterdwelling.com/canadian-youth-unemployment-close-to-financial-crisis-style-surge-nbf/

Yes another way the BANKS & GOV'T are getting your money,? Canadian employment doesn’t look like it moved much, but under the surface was a giant shift. Statistics Canada (Stat Can) data shows the number of jobs virtually unchanged in July, growing 1.7% (+345k jobs) over the past year. As a result, the unemployment rate was also flat at 6.4%, adding 0.9 points from last year. Mostly boring until you dive into the details that show the public sector now accounts for most jobs, overseeing 1 in 4 employees in Canada. https://betterdwelling.com/a-quarter-of-employed-canadians-now-work-for-the-government/

National Bank warns Canadian unemployment could exceed 7% without interest rate cuts 🇨🇦 #resigntrudeau 🇨🇦 🇨🇦 #NoMoreLiberalsAndNDP 🇨🇦 🇨🇦 #SayingTheQuietPartOutLoud 🇨🇦 https://tnc.news/2024/07/10/national-bank-unemployment-exceed-rate-cuts/ via @truenorthcentre

#China #BankFailures #unemployment China is in SERIOUS TROUBLE folks. This isn’t even HALF of the problems. https://www.instagram.com/reel/C9StYflu7Vg/?igsh=MTY0NzdvOTN3aHZ0OQ%3D%3D

National Bank warns Canadian unemployment could exceed 7% without interest rate cuts 🇨🇦 #resigntrudeau 🇨🇦 🇨🇦 #NoMoreLiberalsAndNDP 🇨🇦 🇨🇦 #SayingTheQuietPartOutLoud 🇨🇦 https://tnc.news/2024/07/10/national-bank-unemployment-exceed-rate-cuts/ via @truenorthcentre

A rising unemployment rate is already less-than-ideal, but the details are even worse. The unemployed population climbed by 42k people last month, hitting a whopping 1.4 million people. Workers without jobs has reached the same growth rate as the population, but the direction will compound the issue. The growth rate for the unemployed population is accelerating while the general population is slowing down. Without a major shift in the next few weeks, unemployment will soon outpace population growth. https://betterdwelling.com/canadian-unemployment-adds-42k-workers-1-in-5-long-term-unemployed/

Canada rapidly scaled its generous immigration policy to fill a surge of vacant jobs. Those vacancies proved to be temporary, but the immigration policies remain largely unchanged. According to Bank of Canada (BoC) data, this is producing higher unemployment and more competition for the remaining jobs. As a result, 1 in 8 recently arrived immmigrants are now considered unemployed. However, the damage doesn’t stop there—Canada’s youth unemployment rate is even higher, as young adults compete for the same entry level roles. https://betterdwelling.com/canadian-unemployment-surges-for-young-adults-recent-immigrants/