Part 1/9:
Canada's Employment Dilemma: A Deepening Economic Crisis
Canada's unemployment rate has surged to an alarming 6.8% in November, marking the highest level since 2017 outside of the unusual circumstances faced in 2020. Analysts predict imminent cuts to interest rates by the Bank of Canada, likely slashing them by 50 basis points. This marks a continuation of a steep decline that has seen rates plummet 175 basis points since June. Notably, this economic downturn has taken economists and central bankers by surprise, pushing them into a reactive stance as they struggle to align their forecasts with a rapidly deteriorating economic reality.