Economy

Don’t only count on your parents to fund your future

Over half of younger Canadians are banking on inheritances to fund their retirement, but it may not be that simple.

You’ve probably applied for a ghost job

That job you’re applying for might not even exist.

New grads are struggling to find work

Businesses grappling with the effects of high interest rates are pulling back on hiring, making it tough for new graduates to land jobs, says a recent RBC report

Alberta is calling… again

Alberta is learning that — while putting out an open invite is fun — sometimes you want to be more picky about who you have over.

What happened: Alberta launched the third phase of its Alberta is Calling campaign, which successfully lured in throngs of workers with its siren song (read: tax incentives and lower cost of living).

Canada’s got a GDP per capita problem

Even with AI tools, highly caffeinated beverages, and a roster of podcasts eager to tell us all how to work “smarter,” Canadians are in a bit of a productivity slump. 

Driving the news: Canada’s economic output per person has fallen below its long-term trend by 7% — a loss of around $4,200 per person — according to a new report by Statistics Canada.

A novel theory about the economy suggests rates need to come down to beat inflation

Central banks have a simple formula for fighting inflation: raise interest rates, wait for the economy to weaken and demand to fall, and inflation will soon follow suit. 

What if the formula is wrong?

Catch up: Some experts are making the case that higher interest rates are now driving stubborn inflation that’s sticking around both in the U.S. and Canada.

Dan Skilleter on wealth inequality in Canada

 On this week’s episode of Free Lunch by The Peak, we sat down with Dan Skilleter from Social Capital Partners to talk about why Canada isn't that much more equal than the U.S.  

New mortgage rules for first-time home buyers

Today on “keeping up with federal budget announcements coming out weeks before the actual federal budget announcement” is a policy change covering housing affordability.  

What happened: Canada is rolling out new housing affordability measures for first-time homebuyers, including extending maximum mortgage amortizations to 30 years and increasing the amount that can be withdrawn from an RRSP to buy a first home to $60,000.

Canada holds interest rates steady

Let your friends with variable-rate mortgages know you’re thinking of them this week.

What happened: As expected, the Bank of Canada held the policy rate steady at 5% for the sixth consecutive meeting, noting that "inflation is still too high and risks remain" in the form of a resilient growth forecast, even though both inflation and the labour market are cooling.

Canada almost as unequal as U.S. when it comes to wealth

When it comes to inequality, Canada may not be so different from our southern neighbours after all.

Driving the news: The wealthiest 0.1% of Canadians own 12.4% of total wealth in the country, according to a new study by Social Capital Partners, a Toronto-based think tank.