Millennials have higher household incomes than Gen-Xers

Unfortunately, they also carry considerably more mortgage debt

Millennials have higher household incomes than Gen-XersDo you ever wonder why millennials are the demographic that everyone talks about today? It’s all about the money. Statistics Canada published some interesting data on Thursday showing that millennials had higher incomes and median wealth than young Gen-Xers at the same age, but also considerably more mortgage debt. “The study finds that millennials –…

Alberta retail sales edge up to just over $6.75 billion

Sales rose by 0.9 per cent from January but were down 0.1 per cent year over year

Alberta retail sales edge up to just over $6.75 billionRetail sales in Alberta edged up slightly in February, reaching just over $6.75 billion, says Statistics Canada. The federal agency reported on Thursday that sales in the province rose by 0.9 per cent from January but were down 0.1 per cent year over year. Following three consecutive monthly declines, retail sales rose 0.8 per cent…

Alberta posts largest annual decrease in EI beneficiaries

The number of EI beneficiaries in Alberta in February increased by 1.9 per cent to 51,600, but fell by 15.9 per cent year over year.

Alberta posts largest annual decrease in EI beneficiariesAlberta had the biggest year-over-year decrease among the provinces in February for the number of people receiving regular Employment Insurance benefits, according to a report released on Thursday by Statistics Canada. “There were 51,600 EI recipients in Alberta in February, an increase of 1.9 per cent (from January). Most of this rise was in the…

Cost of housing pushing millennials to the suburbs

TD survey says young Canadians would prefer to live in urban neighbourhoods

Cost of housing pushing millennials to the suburbsA new survey says 81 per cent of Canadian millennials want to own a home but financial realities such as rising prices mean they have to look at the suburbs for affordability. The survey, released on Wednesday by TD, said 33 per cent of millennials say that city living is their preference but 64 per…

Alberta infrastructure accounts for 17% of Canadian total

Alberta’s stock of infrastructure has gone from $21,541 per person in 2009 to $30,219 in 2019. The national average is $20,618 per person

Alberta infrastructure accounts for 17% of Canadian totalSpending on infrastructure is important to any jurisdiction’s economy. Infrastructure investment – both public and private – is a good indication of how an economy is performing. It also helps boost that economy through jobs and business spending. ATB, in its The Owl daily economic update, says Alberta’s stock of public and private infrastructure was…

Canadian trade deficit narrows slightly

Economists call the latest StatsCan numbers disappointing

Canadian trade deficit narrows slightlyCanada’s merchandise trade deficit with the world has narrowed slightly going from $3.1 billion in January to $2.9 billion in February, according to Statistics Canada. The federal agency reported on Wednesday that following two consecutive monthly increases, total imports declined 1.6 per cent to $50.9 billion in February. Imports were down in eight of 11…

Quebec should work with Alberta to improve economy: institute

Montreal Economic Institute says moving oil east by pipeline is the best option for both provinces

Quebec should work with Alberta to improve economy: instituteThe Montreal Economic Institute says the Quebec government should seize the hand extended to the province by Jason Kenney on Tuesday night after he won a majority government in Alberta. “Alberta's economic circumstances make the passage of Western Canadian oil on our territory more imperative than ever. Not only is it the preferred oil of…

Alberta’s annual inflation rate higher than national average

Higher prices for gasoline and natural gas mostly to blame, according to StatsCan

Alberta’s annual inflation rate higher than national averageThe annual inflation rate increased in every province in March but price growth in Alberta (+2.3 per cent) was higher than the Canadian average (+1.9 per cent), says Statistics Canada. The federal agency reported on Wednesday that “the gains in these provinces were led by higher prices month over month for gasoline, as well as…

Alberta employment rose by 44,000 jobs in 2018: StatsCan

Over 40 per cent of the growth was driven by self-employment (+19,000)

Alberta employment rose by 44,000 jobs in 2018: StatsCanTotal employment in Alberta in 2018 rose by 44,000 (+1.9 per cent), almost twice the increase recorded in 2017, says Statistics Canada in its Annual Review of the Labour Market, 2018 which was released on Tuesday. The federal agency said over 40 per cent of the growth was driven by self-employment (+19,000). “In 2018, the…

Alberta manufacturing sector sees increase in sales

Sales in the sector rose by 0.1 per cent in February from January to $6.3 billion

Alberta manufacturing sector sees increase in salesGood news on the manufacturing front for the Alberta economy on Tuesday. A report by Statistics Canada said sales in the sector rose by 0.1 per cent in February from January to $6.3 billion. That was also a year-over-year hike of 3.4 per cent. Across Canada, the federal agency reported that sales were down 0.2…

Mortgage stress test takes a bite out of new mortgages

Accounted for an estimated 50 to 60 per cent, or between $13-$15 billion, of the overall decline

Mortgage stress test takes a bite out of new mortgagesThe mortgage stress test, B-20, accounted for an estimated 50 to 60 per cent, or between $13-$15 billion, of the overall decline in mortgage originations (the process by which a borrower applies for a new loan, and a lender processes that application) throughout 2018, according to a new report released Tuesday by CIBC Economics. The…

Small businesses hurting from not being paid on time

71 per cent of Canadian freelancers and micro-businesses struggle to get paid on time

Small businesses hurting from not being paid on timeIt’s an issue that many Canadian entrepreneurs face – getting paid in a timely fashion. Now, a new survey released Monday by Interac Corp., indicates just how big of an issue it has become. The survey said 71 per cent of Canadian side hustlers (freelance or piecework in nature, providing a supplemental income) and micro-businesses…

House prices falling across Canada

Calgary and Edmonton hit hard, according to report from real estate association

House prices falling across CanadaHouse prices are falling across the country, with significant declines in March in the Calgary and Edmonton regions. According to its regular monthly report, the Canadian Real Estate Association said the aggregate MLS benchmark price across Canada of $617,200 was down by 0.47 per cent year over year during the month. The report said the…

Protecting yourself, and your assets, in case of incapacity

Don't underestimate the importance of having a plan in place for when the inevitable happens

Protecting yourself, and your assets, in case of incapacityEvery day, we make financial and health-related decisions and often don’t give these decisions a second thought. But how – and by whom – would these decisions be made if we’re suddenly incapable of making them for ourselves? You can’t underestimate the importance of having a plan in place for when the inevitable happens. And it…
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