Direct Loan Canada Blog

Statistics Canada says the economy added 40,000 jobs in May, driven by a gain in full-time jobs as the labour market continued to tighten. The increase came as the unemployment rate fell to 5.1 per cent, the lowest rate since at least 1976 which is as far back as comparable data goes.
Source: ctv business
Unemployment rate falls to new record low as wages ramp up: StatCan

Stocks fell sharply Friday following Wall Street’s cold realization that inflation got worse last month, not better, as investors had been hoping.
Source: ctv business
Stocks tumble after inflation worsens, raising rate fears

The average price of gas in the Greater Toronto Area and most of southern Ontario is set to reach a new record this weekend.
Source: ctv business
Gas prices in Ontario could jump to another record high this weekend

High household debt and elevated housing prices have become bigger vulnerabilities in the past year, but the economy can still handle the rising interest rates needed to tame inflation, Bank of Canada governor Tiff Macklem said Thursday.
Source: ctv business
BoC warns mortgage payments could be up to 45% higher for some borrowers by 2025

A majority of Canadians—nearly 75 per cent—have had to change their spending habits in order to meet daily expenses due to rising costs, with nearly half opting to delay purchases and more than a quarter resorting to borrowing money from friends and relatives.
Source: ctv business
Majority of Canadians adjusting spending habits to pay for daily expenses: survey

Canada Post says it will transform its fleet of vehicles to be fully electric by 2040, spelling out details today on steps it will take to achieve its target.
Source: ctv business
Canada Post says it will have a fully electric fleet by 2040

CIBC is the latest bank to announce wage increases in an effort to attract and retain employees in a tight labour market.
Source: ctv business
CIBC latest bank to raise wages amid tight labour market, adds boost to minimum pay

Bathurst is quickly becoming the epicentre of Canada’s restaurant industry labour shortage after the province paused a popular immigration stream used by businesses to attract workers to the area.
Source: ctv business
‘Brought down to my knees’: Restaurateur slams changes to New Brunswick immigration

Huy Fong Inc., one of the world’s largest producers in the Asian hot sauce market, says it anticipates a major shortage of its beloved Sriracha.
Source: ctv business
Sriracha shortage: What you need to know

While Conservative leadership candidate Pierre Poilievre has called for his removal, Bank of Canada governor Tiff Macklem says he will ‘leave the politics to the politicians.’
Source: ctv business
Amid Poilievre criticism, BoC governor says he’ll ‘leave the politics to the politicians’