RBC economists say Canada’s economy could fall into a recession as early as the first quarter of next year, but they expect unemployment to be “less severe” than previous downturns.
In a new report, the economists say the downturn won’t hit households and businesses equally.
They say lower-income Canadians will likely be hit the hardest, as purchasing power falls and debt-servicing costs rise.
OBJ360 (Sponsored)
How CN Cycle for CHEO powers world-class cancer research
“Kids shouldn’t have to die of cancer,” says Tamy Bell when asked why Dr. Shawn Beug’s research at CHEO is so important. Bell, after all, should know: Not only is
Public-private collaboration is Canada’s innovation engine — but it needs fuel
Fidus Systems Inc.’s selection last year as AMD Adaptive Compute Partner of the Year is a reflection of the world-class talent the company has assembled in Ottawa. As the first
They say higher prices and interest rates will shave $3,000 off the average household’s purchasing power.
The manufacturing sector will likely be among the first sectors to pull back, while service sectors like travel and hospitality could prove more resilient.
The report says the jobless rate, which currently sits at 5.2 per cent, will near seven per cent.
