Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
How the Dow Jones industrial average fared on Wednesday Nov 9th
Stocks closed sharply higher Wednesday as investors reacted to Donald Trump being elected president of the United States in an upset victory over Hillary Clinton.
Banks, drugmakers and industrial companies gained the most, while safe-haven assets like utilities slumped. The market hopes that Trump&#.... More »
Moody's says Canada's banks could survive a housing crash of 25% — but could you? + MORE Jun 20th
Canada's big banks would survive even a serious downturn in the housing market, but it could still cost them almost $12 billion, a new report from Moody's says..... More »
Where to donate your $25 Loblaws gift card: find your nearest food bank here + MORE Jan 9th
The bread aisle at a Loblaw in Toronto. (Carlos Osorio/Toronto Star via Getty Images)
Since Loblaw Companies Ltd. fessed up to fixing bread prices from 2001 to 2015 and made its offer of $25 gift cards to grocery shoppers, there’s been a social media push to encourage Canadians to donate th.... More »
Bank of Canada expected to raise its key rate for first time in nearly seven years + MORE Jul 12th
The Bank of Canada is expected to raise its key interest rate target for the first time in nearly seven years on Wednesday following signs the economy is well on the road to recovery after the crash in oil prices.
Low interest rates have helped fuel the housing market in recent years, incentivizing .... More »
Chequing vs. Savings Account: What’s the Difference? Oct 2nd
When it comes to managing your finances, using the correct type of bank account is very important. But while the differences between a chequing account and a savings account may seem obvious to some, you would be shocked at the number of people who use their savings accounts for daily transactions o.... More »
An unexpectedly large job growth jump, and a cut to the unemployment rate.
Last month’s job numbers look surprisingly good – given reports of cuts and lay-offs have been coming hard and fast lately – with a 35,4000 boost for January, and a cut back down to a 6.6 per cent unemployment rate.
But here, as ever, the devil is in the details.
That consensus seems to be widespread among journalists and banks, after the month’s high growth presented an appetizing surprise. Elation over the report may be something of a question of quantity over quality: most of the gains were made due to part-time jobs, and self-employment.
Last month saw more than 47,000 new part-time jobs, while self-employment was up by 41,000.
Meanwhile, full-time jobs actually fell by almost 12,000, and payroll jobs by 5,700.
As David Parkinson at the Globe points out, jobs for people between 25 and 54 – the prime working years – actually lost almost 22,000 full time jobs, and men in this group lost 40,000…
