Summer jobs market retreats with rest of the labor force | Spare News

The last month of the summer job season for returning students recorded more typical employment rates after a boom earlier in the summer, Statistics Canada said on Friday, while the overall job market softened and more people looked for work. The employment rate for returning students was 55.6 per cent, it said, similar to a … Read more

Interest rate hike to ‘intensify’ Canada’s housing market downturn

Homes for sale in Ajax, Ont., on Sept 7. In the Toronto region, the home price index declined nearly 16 per cent from March to August, with some of the city’s suburbs losing more than 20 per cent.Fred Lum/The Globe and Mail Canada’s real estate slump is about to deepen, as the rising cost of … Read more

US weekly unemployment claims at two-month low as labor market remains resilient

A pedestrian passes a help wanted sign in the door of a hardware store in Cambridge, Mass., on July 8.BRIAN SNYDER/Reuters The number of Americans filing new claims for unemployment benefits fell to a two-month low last week while layoffs dropped in August, suggesting the Federal Reserve would need to continue aggressively raising interest rates … Read more

GLOBAL MARKETS-Global stocks rise, US yields fall as inflation slows

NEW YORK: Global equity markets rose while US Treasury yields fell on Friday as investors tempered their expectations of the scale of the Federal Reserve’s interest rate raising cycle as falling oil prices helped to cool inflation. Market sentiment has been buoyed by US Labor Department data this week showing a slowdown in consumer and … Read more

‘A very big deal’: What market observers are saying about the ECB’s rate hike

The European Central Bank raised interest rates by more than expected on Thursday, confirming that concerns about runaway inflation trump economic growth considerations for now. The ECB raised its benchmark deposit rate by 50 basis points to 0%, breaking its own earlier guidance for a 25 bps move as it joined global peers in jacking … Read more

Why are bond markets shrugging off inflation?

A woman shops for produce at the Granville Island Market in Vancouver on July 20. Canada’s inflation rate was up 8.1 per cent in June compared with a year ago, its largest annual change since January, 1983.DARRYL DYCK/The Canadian Press Inflation has peaked – or at least that is what the bond market may be … Read more

BoC’s 1 percentage point rate hike ‘a hammer to housing’ market: BMO

A daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow BMO senior economist Robert Kavcic published BoC Takes a Hammer to Housing on Friday and here are some excerpts: “With variable rates now around 4%, this week’s move by the BoC has cranked up the stress testing hurdle (the … Read more

Bank of Canada’s interest-rate hike gives the housing market a surprise, supersized wallop

Construction crew works on new homes under construction, on the day Bank of Canada increased its policy rate a full percentage point in Brampton, Ontario, Canada July 13, 2022.CARLOS OSORIO/Reuters The Bank of Canada’s interest-rate increase is expected to deepen the chill in the country’s housing market by further changing the psychology of buyers and … Read more