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Rate of Unemployment Is High In Real Estate Markets of Canada

May 2019, 25
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Real Estate Markets of Canada
Statistics Canada (StatCan) figures for unemployment reveal Canada made a significant improvement in the month of April. The unemployment at the national level continues to drop. Sadly, the trend jumped the real estate markets which are most expensive – Toronto and Vancouver. On the other side, if you are in Calgary or Montreal – things are beginning to improve.

Unemployment Is Dropping throughout Canada

When taking a broad view, employment numbers in Canada look extremely better today than compared to a year ago. The unadjusted unemployment rate dropped to 6.1 percent in April, down 1.61 percent related to the previous year. The seasonally altered unemployment rate dropped to 5.8 percent in the month of April, flat from the month ago and last year. Generally talking, things are viewing pretty good over the country except when you fall into numbers for Canadian biggest real estate markets.

Ontario Is Noticing Unemployment Growth, Particularly In Toronto

The unemployment rate in Ontario is rising, particularly in Toronto. The unadjusted unemployment rate touched 6 percent in April, up 5.26 percent from last year. Based on seasonally adjusted, unemployment reached 5.8 percent, stable from the month earlier. Related to the previous year, seasonally changed unemployment has grown by 3.57 percent. Overall, the unemployment rate is less related to other Canadian provinces but is rising.

British Columbia Notices Unemployment Falls, While Vancouver, Hits Up

Unemployment Rate in British Columbia province is on the decline. The unadjusted unemployment rate touched 4.6 percent in April, down 6.12 percent from last year. The seasonally unadjusted rate of unemployment was also 4.6 percent, stable from the month earlier. When related to the previous year, the adjusted rate of unemployment is down 4.16 percent. Unemployment is dropping – just not in Vancouver.

Quebec Observes Unemployment Is Declining, Particularly In Montreal

On the other edge of the spectrum, Quebec is observing the rate of unemployment fall as the economy heats up. The unadjusted unemployment rate fell to 5.8 percent in April, down 4.91 percent from the previous year. The seasonally adjusted rate dropped to 5.1 percent, down 3.77 percent from the month earlier. That describes a 7.27percent drop related to last year.

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