Canada's job market is stabilizing, says a new report from Statistics Canada.
Results released Monday show that new and renewable employment insurance claims fell 8.5 per cent in July, the last month for which figures are available. Ontario and B.C. led the job-market improvements.
The findings are likely to influence Canada's recovering commercial real estate market. Avison Young CEO Mark Rose and other industry leaders believe that improved employment will be the catalyst for the evential complete recovery of the Canadian office, retail and industrial real estate markets.
While the commercial real estate sector is as one broker puts it, "bumping along the bottom of the recession right now," ongoing stronger employment figures are viewed as an indicator of a fully stable market.
Part of the reduction in EI claims can be attributed to benefits expiring based on respective rules in each province. It will take a while, probably a few months, to determine the full impact of the reduced employment insurance claims, but commercial real estate insiders hope they are sign of better times ahead.
For more details on Canada's improvement employment picture, click on the link below to see a story in today's Globe and Mail.
http://www.theglobeandmail.com/report-on-business/ei-data-suggest-job-market-on-the-mend/article1304988/
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