Latest economic trends at a glance.

Economic growth

Canada’s overall economy is wallowing in the sinkhole of low oil prices.
Our economy is expected to grow by just over 1.4 per cent this year, and by two per cent in 2017.


Job growth is expected to slow further this year, expanding by just
0.5 per cent with the national unemployment rate rising to 7.1 this year from 6.9 per cent last year. The jobless rate is expected to rise most severely in Alberta.


Overall consumer price inflation is expected to rise to 1.6 per cent this year and approach two per cent in 2017. 


Average wage increases in major collective agreements settled in 2015 declined to 1.4 per cent overall, down from 1.7 per cent in 2014. This is slightly above last year’s inflation rate of 1.1 per cent, but wage increases could fall below inflation over the life of the agreements.


Any expectations of interest rate increases in the near future have evaporated along with prospects for stronger economic growth. Don’t expect an increase in the central bank rate for at least a year, although longer-term rates and mortgages could edge up sooner.