Canadian jobs growth slows in August
Canadian economy sees fourth month of job gains
The Canadian economy has extended its recovery, reporting positive jobs growth for a fourth-straight month in August. The country added 245,800 jobs in August, with 205,800 full-time positions and 40,000 part-time, recouping almost two-thirds of employment losses due to the COVID-19 pandemic. However, some economists believe that the positive employment momentum will fade. “This is about as good as its going to get for the Canadian labor market this year,” Monex Europe Ltd. Analyst Simon Harvey told Bloomberg News.
How employers can accommodate working parents
As children across Canada go back to school – whether that’s a return to the classroom or learning remotely – parents will be forced to juggle their jobs with childcare duties. So what does that mean for employers? Experts tell BNN Bloomberg that communication and cooperation will be key for both sides when it comes to workplace accommodation. Employment lawyer Janine Liberatore says parents may request family status accommodation if their children are unable to attend school or daycare due to COVID-19. However, others warn that working from home is not a right and that employees should be expected to show some flexibility.
Where to get the best returns on home renos
With consumers spending less on going out during the COVID-19 pandemic, many are sinking money into updating their homes instead. But BNN Bloomberg Personal Finance Columnist Dale Jackson says any potential return on renovation investment depends on several factors, including the type of renovation. From kitchen redesigns to fresh paint jobs, to updating electrical, to adding a swimming pool, Jackson digs into numbers from the Appraisal Institute of Canada to find where you're likely to see the best bang for your buck.
Canadian consumer debt edges higher in Q2
Consumer debt moved higher in the most recent quarter amid as Canadians took longer to pay off existing mortgages, according to a report from Equifax Canada. By comparison, non-mortgage debt dropped relative to the same period in 2019 as Canadians used credit cards more amid widespread economic shutdowns. In order to help ease the financial blow of the pandemic, many have turned to deferrals, particularly Canadians aged 35-44. Equifax found that 15.1 per cent of consumers in that group have used some kind of deferral, compared to just 5.7 per cent of seniors.
Young Canadians favour a future of flexible work
With many Canadians settling into their work-from-home lifestyles, a new survey has found that almost half of working Canadians would prefer to work remotely at least three days a week. The idea of changing up locations is especially popular with younger employees, according to the ADP Canada survey, as 61 per cent of those aged 18-to-34 said they would support to split their work week between home and the office.
"The more optimistic you are about how quickly we're going to recover ... the more you should lock into a fixed rate because when things get back to normal, rates will go up." - James Laird, co-founder of Ratehub.ca and president of CanWise, tells The Canadian Press
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