March 12, 2021, by Shelly Hagan
Canada’s labor market roared back to life in February after authorities began lifting lockdowns, a striking sign of the nation’s economic resilience to the second wave of the pandemic.
According to a Statistics Canada report, the economy added 259,200 jobs in February, well ahead of expectations for a 75,000 gain. It’s the first month of gains since November. The unemployment rate fell to 8.2%, the lowest since the beginning of the pandemic, from 9.4% in January.
“The big February jobs bounce is a pleasant surprise, reinforcing the broader theme that the Canadian economy fared better than widely expected in a challenging winter,” Doug Porter, chief economist at Bank of Montreal, said in a report to investors.
While lauding February’s strong job gains, Justin Trudeau — whose government is preparing a budget that will include as much as C$100 billion ($80 billion) in new spending over three years — said, “there are still far too many people for whom things continue to be tough.” The prime minister added: “If that’s you, know that you’re not alone in this crisis. We’re here to help get through it and get back on your feet.”
What does this mean?
This article is fascinating, even enlightening, but you may have no idea what to do with the information it provides.
It’s dangerous to load up on knowledge and move without the practical wisdom to act.
Every week, our coaches post real estate insights and stories from the streets. They unpack real deals, breaking down the numbers, and highlight trends that their clients are making money off of.
Their wisdom is freely available to you right here.
Sign up for the iWIN Real Estate Newsletter now so you never miss the practical wisdom we are already sending to thousands of investors in Ontario.