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.
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How Westboro’s female entrepreneurs are making it an attractive destination to live, work and play
When fitness guru Amber Stratton opened the first Pure Yoga studio in Ottawa in 2012, Westboro was her first choice. “The space we found was a really good starting point
How Westboro’s female entrepreneurs are making it an attractive destination to live, work and play
When fitness guru Amber Stratton opened the first Pure Yoga studio in Ottawa in 2012, Westboro was her first choice. “The space we found was a really good starting point
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.
