Canadian employment news is good – US is not so rosy
Canadian economy creates 28,000 jobs – better than expected result.
Unemployment rate is steady at 7.4%. 21,000 jobs were part-time with
7,000 full time positions added in June. South of the border the story
is completely opposite – only 18,000 jobs were created in June in the
much larger US economy. Unemployment rate rose by 0.1% to 9.2%.
On top of that, May employment results were revised to 25,000 down from 54,000.
Average House Price in Canada sounds more like average patients temperature in hospital
Canadian housing market is becoming more and more segmented, according
to the CIBC lead economist Benjamin Tal. "Glancing at popular metrics
such as the price-to-income ratio or the price-to-rent ratio, it is
tempting to conclude that the housing market is already in clear bubble
territory and a huge crash is inevitable," he said in response to the
latest round of predictions for housing market correction.
"Tempting, but probably wrong. When it comes to the Canadian real estate market at this stage of the cycle, any statement based on average numbers can be hugely misleading. The truth is buried in the details—and there the picture is still not pretty, but much less alarming."