Canada’s Unemployment Surge: Causes and Consequences

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In this video, we discuss the recent Canadian joblessness numbers, and they are going up. What is the cause of the task market problems? Is it migration? A lot of individuals state that. Is it young people returning to work after taking some time off to invest Covid-19 advantages? We'll discuss.

Likewise on this episode, an RBC report reveals that there are around $900 BILLION worth of mortgages coming due in the next 3 years, and if high rate of interest persist it will trigger a shock to both homeowners and banks. And, it looks like the BC legislation that targets short-term leasings like Airbnb is having an impact.
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Canada's Unemployment Surge: Causes and Consequences

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18 Comments

  1. 📥 Subscribe to the Pulse Newsletter for Weekly Market News (FREE) ➤ https://www.theinvestingacademy.ca/pulse

    In this video, we discuss the recent Canadian unemployment numbers, and they are going up. What is the cause of the job market problems? Is it immigration? A lot of people say that. Is it young people returning to work after taking time off to spend Covid-19 benefits? We’ll discuss.

    Also on this episode, an RBC report shows that there are around $900 BILLION worth of mortgages coming due in the next three years, and if high interest rates persist it will cause a shock to both homeowners and banks. And, it looks like the BC legislation that targets short-term rentals like Airbnb is having an effect.

  2. hey marc, great video, was wondering if you ever made a video on the Canadian housing market? especially here in Toronto, your thoughts and where it goes from here? I am looking to get into the market mid 30s, in couple years.

  3. Marc, this is very insightful thank you! Would really appreciate it if you can cover some news/analysis regarding the trucking industry in US and Canada. Cheers!

  4. I think the short term rental thing is a bit dangerous. It seems to be coming into effect quickly; not a lot of time to adjust (sell or turn to long term rentals), will it fix the housing shortage? I guess it won’t hurt, seems like low hanging fruit but is it the most effective way? Airbnb started out as staying in someone’s house, niw it’s basically same as staying in a hotel…I’m not personally too concerned for corporations that have many many listings.

  5. It is very beneficial for employers to get part-time workers as they do not need to pay the full insurances and benefit packages. The other thing is that if you create a bubble of unemployment and go for the short term, hurray approach and see Freeland say that it is great to have foreign students as they contribute to the bottom line (that is our finance minister speaking). I am glad I locked in for 10 years when the going was good.

  6. I hope you do an episode on how retirees are managing in this economy. Are they going back to work like in the states. How much does one prepare for such an economy when they retire

  7. I am one of those victoria condo owners. Pretty crappy but knew it was always a risk. There’s different studies but many show that short term rentals are a drop in the bucket and changing rules has little to effect housing when the rules go into place. It will have a negative effect on tourism and things like travel nurses and people who come come for cancer treatment and don’t want to stay at a hotel. The province has no interest in lowering housing costs as it’s their biggest money maker.

    1. 16,000 whole homes is significant, more than that if non primary residence suites are included. It would represent ~1.5% of all the housing in the province. That’s like taking an entire years worth of new housing construction for the province and putting it back into circulation.

  8. Thank you Mark for the info!
    My mortgage is up for renewal in 2027 so hopefully interest rates will be better by then, in the mean time I put extra money on the capital whenever possible. Thank fully the rate is awesome as soon as it started going up we decided to lock in.
    A lot of part time jobs are just jobs with nothing interesting and dead end, like fast food joints, retail and such. Most of those don’t offer benifts (dental, etc) which make them unappealling to the general public.

  9. Kicking out predatory short term rentals in a housing crisis is the right step. If not affordable, housing should be fairly priced.
    You can’t expect 4x rent for the same space just purely because of supply shortage and 0 change in value/amenities. There needs to be a cap to it.

    Don’t buy a home if you can’t afford it and have to rent it to make money. Housing is not a speculative asset to trade and cash flow off.
    That ponzi scheme is over.

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