The Canadian average home price for the month of August set records in every province except Alberta. Data from the CREA showed that a sustained increase in sales activity, including a rebound in activity at the higher end of the price spectrum in some of Canada’s priciest markets.

Demand continued to improve in Canada’s more expensive housing markets, drawing the average price upwards. The Canadian residential average price rose 11.3 per cent from year-ago levels to $324,779. This is the highest Canadian average home price for the month of August.

Canadian home sales in August increased from year-ago levels in about approximately three-quarters of all local markets. Year-over-year gains in Vancouver (117 per cent), Toronto (27 per cent), Calgary (17 per cent) and Montreal (9 per cent) contributed most to the Canadian rise in activity. Aggregate sales for 25 major markets recorded the third consecutive increase from year-ago levels of more than 20 per cent in August.

“National sales activity in the third quarter is on track for a significant increase compared to the second quarter,” said CREA President Dale Ripplinger. “Low interest rates and affordability continue to attract homebuyers to the housing market. Consumer confidence continues to rise, which bodes well for activity in the coming months.”

House Prices In Canada
August 2009

City House Prices In Canada
August 2009

28 Sep 2009

Canadian employment increased by 27,000 in August led by part-time workers and private sector employees. The employment increase was concentrated among women aged 25 to 54.

The unemployment rate, however, edged up 0.1 percentage points to 8.7% as more people joined the labour market.

Since employment peaked in October 2008, Canadian employment has fallen by 387,000 (-2.3%). The trend in employment, however, has changed recently. Over the last five months, employment has fallen by 31,000, a much smaller decline than the 357,000 observed during the five months following October 2008.

Part-time employment rose by 31,000. Since October, full-time work has dropped by 486,000 (-3.5%), partially offset by increases in part time of 99,000 (+3.1%).

Canadian employment among private sector employees increased by 49,000 in August, the first increase in this group since September 2008. Employment among both public sector employees and the self-employed edged down in August.

Industry Sectors
There were employment increases in a number of industries in August, with the largest in retail and wholesale trade and finance, insurance, real estate and leasing. Total employment gains were partially offset by losses in business, building and other support services, as well as educational services.

Employment in the manufacturing sector continued its downward trend in August, while construction rose slightly.

In the five months following the employment peak of October 2008, employment fell in almost all industries, especially manufacturing and construction. In the past five months, however, while manufacturing has continued its decline, employment in construction has stabilised and it has increased in most service industries.

Ontario
Employment in Ontario increased slightly for a second consecutive month in August. Despite these gains, employment in Ontario has declined by 3.1% since last October. The province’s unemployment rate in August was 9.4%, up 0.1 percentage points.

Quebec
Following a large drop in July, employment in Quebec was little changed in August. The unemployment rate was 9.1%, up 0.1 percentage points. Since last October, employment in the province has decreased by 1.5%.

Saskatchewan
In Saskatchewan, employment declined for the second consecutive month in August. The unemployment rate, while up 0.3 percentage points, remained the lowest in Canada at 5.0%.

Manitoba
Manitoba’s employment increased by 3,400 in August. However, the unemployment rate climbed 0.5 percentage points to 5.7% as more people looked for work.

Newfoundland & Labrador
In Newfoundland & Labrador, employment rose by 2,900 in August and the unemployment rate fell to 15.6%. Since October, employment in the province has declined by 1.5%.

Figures from Statistics Canada

15 Sep 2009

Jason Kenney, Canadian Minister of Citizenship, Immigration and Multiculturalism announced the redesign of Canada’s permanent resident card.

The new card contains micro-lettering and fine line patterns that are resistant to copying, similar to banknotes. Also, the card holder’s photograph and personal details are recorded on a bar code in an encrypted format that may only be read by authorised officials.

New permanent residents will automatically receive the new card as part of the immigration process. Current permanent residents will receive a new card only when their existing card expires. In the meantime, their existing card is still valid.

As always, permanent residents should check the expiry date of their existing card and apply for a new card, if necessary, well in advance of international travel. This wallet-sized plastic card is required for all permanent residents of Canada seeking to re-enter Canada on a commercial carrier (airplane, boat, train or bus).

“Thanks to state-of-the-art security features, this redesigned permanent resident card will help prevent the fraudulent use of Canada’s immigration documents and protect the integrity of our immigration system,” said Minister Kenney. “The new card contains security features that comply with international standards for travel documents. Technology is continuously evolving and it is important that our standards keep up.”

4 Sep 2009

Canadian resale housing market activity continued climbing in July 2009, with sales posting the largest year-over-year gain in two years. It was also the first time on record that sales activity topped 50,000 units for the month of July in any year on record.

Demand is rebounding sharply in some of Canada’s priciest housing markets, which continues to skew the national average price upward. The residential average house price rose 7.6 percent from one year ago to $326,832. However, only seven local markets posted new average price records in July. The strong rebound in sales activity, not price, in some of Canada’s most expensive markets is skewing the national average price upward, just as a sharp decline in activity in these markets skewed the average lower in late 2008.

“Sales activity started off the third quarter on a strong footing,” said CREA President Dale Ripplinger. “The difference in the resale housing market now, compared to the beginning of the year, is night and day, and nowhere is this more evident than in the West. Homebuyers recognise that interest rates and prices have bottomed out, and are taking advantage of excellent affordability before prices and interest rates move higher.”

“Home sales through the MLS® systems in July provide clear evidence that sentiment about making major purchases continues to improve,” said Chief Economist Gregory Klump. “Activity may level out over the rest of the year as home prices and mortgage lending interest rates creep higher.”

“The number of new listings coming onto the market is down from last year and the rebound in sales activity is paring inventories, so the number months of inventory is on the wane,” said Klump. “These trends are supporting average prices. Average prices dropped sharply over the second half of 2008 but have rebounded since then, so average prices are expected to continue climbing over the rest of the year.”

House Prices In Canada
July 2009

City House Prices In Canada
July 2009

4 Sep 2009

Canadian average weekly earnings, including overtime, of employees was $823 in June 2009, up 1.8% from June 2008.

In the largest industrial sectors, from June 2008 to June 2009, average weekly earnings were up by 6.0% in health care and social assistance, 3.4% in public administration, 2.8% in retail trade and 0.1% in accommodation & food services.

For the same year-over-year period, average weekly earnings fell 5.4% in manufacturing and 2.4% in educational services.

Provincially, the strongest year-over-year earnings growth occurred in Prince Edward Island (+6.5%), Newfoundland & Labrador (+4.9%) and Alberta (+4.3%).

Hours Worked
Compared with a year earlier, the total hours worked by hourly paid employees in Canada fell by 1.8% in June. Since the the growth in total hours worked by hourly paid employees, including overtime, peaked in October 2008, year-over-year growth in hours worked has slowed, slipping into negative territory in May and June.

Canadian Average Weekly Earnings By Province
June 2009

Canadian Average Weekly Earnings By Industry
June 2009

Data from Statistics Canada

4 Sep 2009

Following little change in June, Canadian employment declined by 45,000 in July, with losses in both full- and part-time work. The unemployment rate remained unchanged at 8.6%, as fewer people participated in the labour market.

Self Employment Increasing
The number of self-employed increased by 35,000 in July. Since October, self-employment has risen by 75,000, mostly in finance, insurance, real estate and leasing; professional, scientific and technical services; and “other services.”

Across the Industries
Employment in July fell in accommodation and food services and construction while there were increases in retail and wholesale trade. Employment among private sector employees fell by 75,000 in July, bringing total losses since October to 436,000.

Ontario
Employment in Ontario edged up in July as continued declines in construction were more than offset by gains in the services sector. In July, the unemployment rate was 9.3%.

Quebec
Following four months without notable declines, Quebec’s employment fell by 37,000 in July. The unemployment rate in July, at 9.0%, was the highest since January 2004.

Saskatchewan
Employment also fell in Saskatchewan in July, returning employment to the same level as in October 2008. The unemployment rate edged up to 4.7%.

Newfoundland & Labrador
Following a gain the previous month, employment fell in Newfoundland & Labrador, pushing the unemployment rate up 1.5 percentage points to 17.1%.

Alberta
The unemployment rate in Alberta increased slightly to 7.2%. Full-time employment dropped by 11,000, which was partly offset by an increase in part time employment (8,000).

British Columbia
The unemployment rate improved slightly to 7.8% due mainly to a reduction in the number of people looking for work.

Data from Statistics Canada

4 Sep 2009