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S C

CBC News - Unemployment statistics - 1 views

www.cbc.ca/...unemployment-stats

cbc news unemployment statistics

shared by S C on 16 Jan 13 - No Cached
  • Canada's unemployment rate decreased to 7.1 per cent in December
  • S C on 16 Jan 13
     
    CBC's unemployment statistics for Canada and maybe US
Erica Yeo

Household debt in Canada - 3 views

www.statcan.gc.ca/...11636-eng.htm

consumer debt canada challenges statistics

shared by Erica Yeo on 17 Jan 13 - No Cached
  • In 1980, the ratio of household debt to personal disposable income was 66%; that ratio recently passed the 150% figure (Statistics Canada 2011). This means that, in aggregate, households owed more than $1.50 for every dollar of disposable income.
  • It also examines whether the relationships between debt and financial capability persist when other characteristics like income and educational attainment are taken into account.
  • younger people and parents with children at home were more likely to hold debt. Individuals under 45 made up 45% of the population, but 54% of borrowers. Similarly, married people with children accounted for 30% of the overall population, but 39% of debtors. They were also more likely to have higher levels of debt. Couples with children held one-half of all household debt, with an average debt of $144,600, higher than the overall average of $114,400. Similarly, individuals under 45 held 61% of household debt, $129,200 on average.
  • ...1 more annotation...
  • Higher education levels were also associated with an increased probability of holding debt and higher average debt. Individuals with at least some postsecondary education comprised about one-half of the population but almost 60% of those with debt. And university graduates had an average debt that was 60% higher than those with less than postsecondary education—$145,400 compared to $90,900.
Brijesh Patel

Canadas Unemployment rates drops to 4 year low - 0 views

www.ctvnews.ca/...-drops-to-4-year-low-1.1100775

unemployment rate

shared by Brijesh Patel on 18 Jan 13 - No Cached
  • Brijesh Patel on 18 Jan 13
     
    The Canadian economy created 40,000 jobs in December -- all of it in full-time work -- and drove the unemployment rate to its lowest in four years, Statistics Canada said Friday. The federal agency said the national unemployment rate slipped by one-tenth of a percentage point to 7.1 per cent, its lowest level since December 2008 Statistics Canada reported last month that the economy grew just 0.1 per cent in October after a flat reading in September and a 0.1 per cent contraction in August. Compared with a year earlier, Statistics Canada said there were 312,000 more jobs, all in full-time work.
Brijesh Patel

Watch Your Debt Level - 0 views

www2.macleans.ca/...nadians-watch-your-debt-levels

credit levels increased

shared by Brijesh Patel on 18 Jan 13 - No Cached
  • Brijesh Patel on 18 Jan 13
     
    For every dollar of after-tax income Canadians bring home, they're borrowing more than $1.64. Statistics Canada said that between July and September of this year, households borrowed $27.3 billion Consumer credit levels increased by $7 billion to $474 billion.
  • Brijesh Patel on 18 Jan 13
     
    For every dollar of after-tax income Canadians bring home, they're borrowing more than $1.64. Statistics Canada said that between July and September of this year, households borrowed $27.3 billion Consumer credit levels increased by $7 billion to $474 billion.
Brijesh Patel

40000 jobs added in december yet umemployment rate falls - 1 views

www.globaltvbc.com/...story.html

unemployment

shared by Brijesh Patel on 16 Jan 13 - No Cached
  • unemployment rate to its lowest in four years,
  • Statistics Canada reported last month that the economy grew just 0.1 per cent in October after a flat reading in September and a 0.1 per cent contraction in August.
  • December saw 41,200 new full-time jobs added, while the number of part-time positions fell by 1,400.
  • ...2 more annotations...
  • Compared with a year earlier, Statistics Canada said there were 312,000 more jobs, all in full-time work.
  • The gains were made in the transportation and warehousing segment which added 22,000 jobs, while the construction industry gained 18,000 jobs.Professional, scientific and technical services lost 42,000, while public administration dropped 13,000.
  • Brijesh Patel on 18 Jan 13
     
    Capital Economics, which has one of the most bearish outlooks on the Canadian economy, noted the strong jobs growth was in stark contrast to the other recent economy data. The federal agency said the national unemployment rate slipped by one-tenth of a percentage point to 7.1 per cent, its lowest level since December 2008 The recent strength of employment growth will probably convince the Bank of Canada to stick with its existing position that interest rates will eventually need to rise at this month's policy meeting
Brijesh Patel

Drowning In Debt? - 2 views

www.theglobeandmail.com/...article7354916

shared by Brijesh Patel on 17 Jan 13 - No Cached
  • Some basic tips: “Don’t add any more to your debt,” Mr. Schwartz said, “Put your credit cards away. Stop using your line of credit. Live on cash or debit.”
  • Canadian borrowing levels have hit record levels, with household debt-to-income ratio recently reaching a high of 164.6 per cent, according to Statistics Canada.
  • But consulting a trustee, which comes with no charge, doesn’t always mean filing for bankruptcy, he explained. Trustees can help set budgets, steer consumers toward consolidation loans, mortgage refinancing or consumer proposals as a way to climb out of debt, he said.
  • ...1 more annotation...
  • Pay down the debt with the biggest interest rate first, or select a small debt, and pay it off.
  • Brijesh Patel on 18 Jan 13
     
    Pay down the debt with the biggest interest rate first
  • Brijesh Patel on 18 Jan 13
     
    In 2011, 77,993 consumers filed for bankruptcy
Erica Yeo

Individuals by total income level, by province and territory - 0 views

www.statcan.gc.ca/...famil105a-eng.htm

inequality canada income statistics challenges

shared by Erica Yeo on 16 Jan 13 - No Cached
    • Erica Yeo
      Erica Yeo on 16 Jan 13
       
      The majority of individuals are earning under $35 000
Brijesh Patel

Bank of Canada flags lenders' role in consumer debt - 1 views

www.theglobeandmail.com/...article6930721

debt

shared by Brijesh Patel on 16 Jan 13 - No Cached
  • Canadian families owe nearly $1.65 on average for every dollar of after-tax income, the highest level in 22 years of tracking those figures.
  • the government would no longer insure mortgages that are amortized over a period longer than 25 years.
  • fierce competition for customers caused some major banks to begin offering five-year mortgages at 2.99 per cent, triggering a price war in the sector.
  • ...5 more annotations...
  • You should be cautious about your lending practices, because this is the type of practice that led to a mortgage crisis in the United States several years ago,
  • Statistics Canada saying in December that the most recent data suggest Canadian families owe nearly $1.65 on average for every dollar of after-tax income.
  • physically present also have a greater proportion of consumers with too much de
  • The Bank of Canada has been scrutinizing whether competition among
  • The governing council was told about the role that discounting plays in how much individuals pay for their mortgage and notes that there is “substantial dispersion in rates across people, institutions, and markets.”
  • Brijesh Patel on 18 Jan 13
     
    Funding costs rose dramatically during the financial crisis when liquidity dried up, pushing up the costs of consumer and business loans Finance Minister Jim Flaherty tightened the rules on mortgages for a fourth time in four years, saying the government would no longer insure mortgages that are amortized over a period longer than 25 years "Neighbourhoods with more bank branches and payday lenders per capita (i.e. more competition) have looser lending standards (higher leveraged households) and experience greater bankruptcies"
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