OTTAWA — The Canadian economy lost 6,600 jobs in September, Statistics Canada said Friday, as the country’s recovery faltered after an initially strong rebound from recession.
The jobless rate declined to eight per cent during the month, from 8.1% in August, “as fewer people, particularly youth, participated in the labour market,” the federal agency said.
Economists’ forecasts had ranged from 10,000 to 12,500 new jobs last month, following a gain of 35,800 in August, with the unemployment rate staying at 8.1%.
Canada’s gross domestic product declined in July for the first time in almost a year Statistics Canada said Thursday the economy shrank 0.1 per cent during the month.
The July data marked the first monthly contraction since August 2009, when GDP shrank 0.1%. That had been the only month to show a decline in economic activity since a 10-month string of reduced GDP readings between August 2008 and May 2009.
The Bank of Canada had anticipated 3.5% growth this year and 2.9% in 2011, although those projections are expected to be revised downward when the central bank releases its updated economic outlook on Oct. 20.
That slower growth has put into question any further interest rate hikes by the Bank of Canada.
The central bank has raised in recent months its trendsetting interest rate from a record low 0.25% to its current level of one per cent. The bank’s next policy meeting is Oct. 19.
Friday, October 8, 2010
Wednesday, October 6, 2010
Sept. 2010 KW Real Estate Results
KITCHENER-WATERLOO, ON (Oct 5, 2010) -Home sales to the end of the third quarter of 2010 are ahead of last year by 4.5 percent. There were a total of 5,113 home sales through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Real Estate Board (KWREB) during the first nine months of the year, compared with 4,892 during the same period of 2009.
"This is the first time since 2007 that sales to the end of the third quarter have increased on a year over year basis", says Ted Scharf, President of the KWREB. "It was also our third best September on record. "
Sales last month brought the dollar volume to $1,477,077,951, an increase of 14.1 percent compared to one year ago.
The most popular price range year-to-date has been for homes selling between $225,000 and $250,000, with nearly 15 percent of sales happening in that bracket. This is down slightly from 2009, when the percentage was 16 percent.
The number of residential sales increased in every price category above $250,000, with the biggest jump occurring in the most expensive homes. 62 homes sold to the end of September for more than $750,000, compared to only 24 last year at this time, a jump of 158 percent.
Stronger demand for high-end homes has contributed to the 10.2 percent increase in the average sale price of all detached homes sold year-to-date. The average price of a detached home to the end of the third quarter was $329,063, compared to $298,626 to the end of September 2009.
The average price of all residential properties sold year-to-date was $288,887, a 9.1 percent increase relative to 2009 results.
Scharf says the local residential real estate market should remain strong for the balance of the year. The local economy is both diverse and dynamic, and our region is highly regarded as a perfect place to make roots and invest in a home.
"This is the first time since 2007 that sales to the end of the third quarter have increased on a year over year basis", says Ted Scharf, President of the KWREB. "It was also our third best September on record. "
Sales last month brought the dollar volume to $1,477,077,951, an increase of 14.1 percent compared to one year ago.
The most popular price range year-to-date has been for homes selling between $225,000 and $250,000, with nearly 15 percent of sales happening in that bracket. This is down slightly from 2009, when the percentage was 16 percent.
The number of residential sales increased in every price category above $250,000, with the biggest jump occurring in the most expensive homes. 62 homes sold to the end of September for more than $750,000, compared to only 24 last year at this time, a jump of 158 percent.
Stronger demand for high-end homes has contributed to the 10.2 percent increase in the average sale price of all detached homes sold year-to-date. The average price of a detached home to the end of the third quarter was $329,063, compared to $298,626 to the end of September 2009.
The average price of all residential properties sold year-to-date was $288,887, a 9.1 percent increase relative to 2009 results.
Scharf says the local residential real estate market should remain strong for the balance of the year. The local economy is both diverse and dynamic, and our region is highly regarded as a perfect place to make roots and invest in a home.
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