46 h. ago Howard Levitt: What a 7% unemployment rate means for job security in 2025

Signals a fundamental shift in the Canadian employment landscape

Events

65 h. ago B.C. students searching for summer job face toughest market ‘in years’

The B.C. Business Council says that over the past year, youth unemployment rate has climbed from 10.5 per cent to 16.6 per cent, which is the largest increase of any province.

Other

1 week ago Toronto's unemployment rate is getting completely out of hand

Looking for a job in Toronto? Join the queue, because as of this month, the city's unemployment rate has surged to a jaw-dropping 8.8 per cent, up from 8.6 per cent just one month earlier.Statistics Canada's latest report on the labour force from coast to coast shows that the nation's largest city is faring the worst of any provincial capital, and of almost any Canadian city, period.Only the census metropolitan areas of Oshawa and Windsor had higher rates of joblessness, of a shocking 9.1 per cent and 10.8 per cent, respectively. (Windsor, as many know, is one of the top three cities in Canada that are most impacted by U.S. tariffs due to its substantial auto manufacturing sector.)The numbers in some rural locales, though, are even more dire.One chart from the government agency shows that an astounding 27.2 per cent of the working-age population in Northern Manitoba is now said to be unemployed, 13.4 per cent in Northern Saskatchewan, 13.1 per cent in...

Other

1 week ago ‘Grinding’ rise in unemployment rate means Bank of Canada will start cutting rates again

Here's what economists think the recent unemployment numbers mean for the Bank of Canada and future rate cuts

Culture

1 week ago Canada’s jobs market ‘treading water’ as unemployment rate rises to 7% in May

OTTAWA — Job growth has been virtually non-existent in the country since the start of the year, Statistics Canada said Friday. Canada’s jobless rate rose a tenth of a point to seven per cent in May amid a gain of 8,800 jobs in the month, the agency said in its latest labour force survey. That’s […]

Other

1 week ago Unemployment ‘little changed’ in May with slight rise to 7%: StatCan

Canada's job market held relatively steady in May, according to Statistics Canada, as the unemployment rate ticked up slightly to 7.0 per cent.

Other

1 week ago Unemployment rate rises to 7% in May as economy adds 8,800 jobs

OTTAWA — Statistics Canada says the unemployment rate ticked up for the third consecutive month in May as the economy added 8,800 jobs. The national jobless rate rose to 7% last month, up a tenth of a point from April. StatCan says that marks the highest unemployment rate since 2016 outside the pandemic years. The […]

Other

1 week ago Canada’s unemployment rate hits 7%, highest since 2016 outside the pandemic

Economy gains 8,800 jobs, more than economists expected

Science

2 w. ago Ontario keeps seeing spikes in people defaulting on housing and other bills

The cost of living in Ontario has become astronomical (and is getting worse), the unemployment rate is skyrocketing, U.S. tariffs on Canadian imports are weighing on everyone, and a recession is on the horizon, if not already here.So, it's no wonder that more and more people across Canada are straining to cover their basic costs of living, including their rent, mortgage, credit card and other bills, particularly in Southern Ontario.Credit reporting firms and other companies have been raising alarm bells about the nation's growing consumer debt — which ballooned to a staggering $2.56 trillion by the end of 2024 — as well as escalating delinquency rates for mortgage and other payments.New data from RBC further bolsters these concerns, with the bank's execs this week citing an uptick in people defaulting on their residential mortgage payments.During a recent investor presentation and subsequent earnings call, it ...

Other

2 w. ago Ontario seeing spikes in people defaulting on housing and other bills

The cost of living in Ontario has become astronomical (and is getting worse), our unemployment rate is skyrocketing, U.S. tariffs on Canadian imports are weighing on everyone, and a recession is on the horizon, if not already here.So, it's no wonder that more and more people across the province and country are straining to cover their basic costs of living, including their rent, mortgage, credit card and other bills — particularly if they live in and around Toronto.Credit reporting firms and other stakeholders have for months been raising alarm bells about the nation's growing consumer debt — which ballooned to a staggering $2.56 trillion by the end of 2024 — as well as escalating delinquency rates for mortgage and other payments.New data from RBC further bolsters these concerns, with the bank's executives this week citing an uptick in residential mortgage holders defaulting on their payments.Ontario sees hug...

Other

3 w. ago E.l.f. Beauty to buy Hailey Bieber’s Rhode brand for $1 billion

E.l.f. Beauty is acquiring Hailey Bieber’s Rhode beauty brand for $1 billion. The deal is for $800 million in cash and stock, with an additional $200 million payout based on Rhode’s performance over three years, E.l.f. said in a statement. E.l.f. Chief Executive Officer Tarang Amin said the acquisition will further diversify the cosmetics company’s […]

Economics

3 w. ago Canadians are missing credit card payments at levels not seen in years

Amid soaring living costs, a growing unemployment rate, and economic uncertainty in Canada, more people have fallen behind on credit card payments this year.According to the latest report by Equifax Canada, 1.4 million people in Canada missed at least one credit payment in the first quarter, a level not seen since 2009."Our data shows card payment levels, especially for younger consumers, are starting to fall, indicating this spending slowdown is likely driven more by consumers trying to be prudent rather than switching from credit to debit for financing," said Rebecca Oakes, vice president of advanced analytics at Equifax Canada.On average, Canadians had $21,859 in non-mortgage debt in the first quarter, primarily due to auto loans, as buyers sought to lock in purchases before anticipated price hikes. People have also been more prudent with their spending — the average Canadian's monthly credit card spend dropped by $107, the lowest since March 2022."Despit...

Economics