General Economic chit chat/updates.

[max225]

so the house we loved that we thought was pending sale is still available: realtor mixed up addresses when sending us the report. Heading there this afternoon to look at it and if we love the inside we’ll submit our offer. Will start a new thread for all this shiz so I’m not clogging this one up.

That realtor is trash

[wap]

so the house we loved that we thought was pending sale is still available: realtor mixed up addresses when sending us the report. Heading there this afternoon to look at it and if we love the inside we’ll submit our offer. Will start a new thread for all this shiz so I’m not clogging this one up.

[Tar]

Meanwhile, they are expecting more interest rates north of the border:

It looks like interest rates will be going higher when the Bank of Canada next meets to set policy at the end of January.

Canadian employers added more than 100,000 positions in December, a strong number that suggests the tailwind from acute labour shortages was at least as strong as the headwinds from a spike in borrowing costs, plunging housing prices and worries about a global recession.

That’s positive. The economy created 381,000 jobs in a year when most of the headlines were negative. The unemployment rate dropped to five per cent, one of the lowest readings on record; total hours worked increased 1.4 per cent from a year earlier, a positive signal for fourth-quarter gross domestic product; and the size of the labour pool increased by 0.4 per cent, suggesting more people were keen to work.

“The surge in employment and rise in the labour force make this an incredibly positive print,” Toronto-Dominion Bank economist James Orlando’s said in a note to clients. “The fact that most of the gains were full-time positions in the private sector and spanned many industries further supports the robustness of today’s numbers.”

Maybe a little too robust for Bank of Canada governor Tiff Macklem.

Hiring data are always important. But these numbers are more important than usual because the Bank of Canada is unsure whether it’s raising interest rates enough to crush inflation, which jumped out of the central bank’s comfort zone in 2021 and remains uncontained.

........................

Full employment is a sign of strength, but it also suggests inflationary pressures are building. Average hourly wages were 5.1 per cent higher than in December 2021, the seventh consecutive month that wage gains exceeded five per cent, Statistics Canada said. That’s an unusually strong rate of wage growth, which the Bank of Canada will see as evidence of inflation, since wage demands tend to influence prices for goods and services.

The hiring numbers will create dissonance for the many forecasters who published bleak outlooks at the end of 2022. Indeed, the Bank of Canada itself predicted that growth would stall over the next few months, implying a recession is possible. Many will point out that employment is a “lagging indicator,” reflecting decisions based on economic conditions months ago, rather than foresight about what might be coming. Still, there’s no denying the Canadian economy ended the year with considerable momentum.

The jobs numbers might be backward looking, but through the end of 2022, the Canadian labour market remained rock solid,” Brendon Bernard, an economist at Indeed Inc., a hiring website, said in an email. “The clouds on the horizon haven’t rained on the labour market’s parade.”

The central bank raised the bench mark interest rate another half-point on Dec. 7, but for the first time in more than a year, policymakers said they would consider a pause when they next meet to consider the interest rates. That decision comes on Jan. 25, so December and January data will determine whether borrowing costs have peaked.

The latest inflation reading sent an unconvincing signal. The headline rate cooled to 6.8 per cent in November from 6.9 per cent in October. The drop was positive, but the sluggishness of the decline suggests stickiness.

Strong employment numbers suggest demand will continue to put upward pressure on inflation, which argues for higher interest rates. Macklem in December said he “won’t sleep easily” until inflation is back at two per cent. That probably means another interest rate increase this month, although perhaps by only a quarter-point.

“Though the Bank of Canada has signalled it could go either way with its next policy decision, the continued strength in employment means that the bank isn’t done yet,” Orlando said.

Financial Times - Toronto

[Tar]

So I'll be scrubing debt until my renewal date in 2024, or until the rates turn downwards. , it'll do good things for us down the road.

[Tar]

My anecdotal experience is also positive!

I have a walk load of work opportunity, have signed on for an additional side contract at nearly double my current rate, and still running on all cylinders in my current capacity.

Cottage rentals for this summer are 50% booked at significantly higher rates then last year.

[D Griff]

Canadians spell percent as two words

[D Griff]

so the house we loved that we thought was pending sale is still available: realtor mixed up addresses when sending us the report. Heading there this afternoon to look at it and if we love the inside we’ll submit our offer. Will start a new thread for all this shiz so I’m not clogging this one up.

Realtors are trash

[Tar]

Canadians spell percent as two words

Wait...no they don't!

[D Griff]

Canadians spell percent as two words

Wait...no they don't!

It’s split in two every time on that article you quoted

[razr390]

They are technically part of the British empire/monarchy whatever the Fuck so they might use that English versus American English in some parts of Canada

[razr390]

Also I’m not an expert by any means but as much as low unemployment is good for politicians but to have a stable capitalistic economy we need like 7-10% unemployment??? Just to stabilize costs/etc?

[Tar]

Wait...no they don't!

It’s split in two every time on that article you quoted

That author is a Moran haha

[Tar]

Also I’m not an expert by any means but as much as low unemployment is good for politicians but to have a stable capitalistic economy we need like 7-10% unemployment??? Just to stabilize costs/etc?

That's a good question, I think the gov keeps spending which stokes inflation, and I'll bet they don't care one bit about your COL

[Valkyrie]

It’s split in two every time on that article you quoted

That author is a Moran haha

Both ways are technically correct and mean the same thing.

[D Griff]

Max’s predictions came to fruition today, a sizable layoff was announced at my company. More details to be learned tomorrow, but both and I are safe this round. I get slightly worried about her role over the coming months, but we’ll see. That would suck to get the early on.

[razr390]

Max’s predictions came to fruition today, a sizable layoff was announced at my company. More details to be learned tomorrow, but both and I are safe this round. I get slightly worried about her role over the coming months, but we’ll see. That would suck to get the early on.

Yikes. Hopefully it’s not last in first out. Do you have any info on who was affected? Was it specific business units? Maybe lower performers? Etc

[max225]

Max’s predictions came to fruition today, a sizable layoff was announced at my company. More details to be learned tomorrow, but both and I are safe this round. I get slightly worried about her role over the coming months, but we’ll see. That would suck to get the early on.

Sorry to hear, hope you two stay employed. This will affect us all at some point or another. My write up was not an US vs THEM type thing. I just wanted to give an overall warning to most.

[Tar]

Max’s predictions came to fruition today, a sizable layoff was announced at my company. More details to be learned tomorrow, but both and I are safe this round. I get slightly worried about her role over the coming months, but we’ll see. That would suck to get the early on.

Sorry to hear, hope you two stay employed. This will affect us all at some point or another. My write up was not an US vs THEM type thing. I just wanted to give an overall warning to most.

It's always appreciated broseph, hopefully it doesn't get too bad, fucking irresponsible governments man.

[D Griff]

Max’s predictions came to fruition today, a sizable layoff was announced at my company. More details to be learned tomorrow, but both and I are safe this round. I get slightly worried about her role over the coming months, but we’ll see. That would suck to get the early on.

Yikes. Hopefully it’s not last in first out. Do you have any info on who was affected? Was it specific business units? Maybe lower performers? Etc

Right now it was all in sales, primarily a bunch of outside area sales managers were dumped and some field sales engineers. 60 positions eliminated overall. They are completely reorganizing the entire sales group but IMO a lot of it was over bloated anyway and their path forward makes a lot more sense to me. I may wind up picking up some additional states/markets that I’ll cover but I’d actually be pretty stoked on the proposed changes. More to come in the next few weeks

[Tar]

https://finance.yahoo.com/news/miami-es ... 34132.html

US home price guesswork from Goldman posted up in this article. It basically states another 5% drop in 2023 with below-trend price growth in 2024 with potentially better then expected revisions if interest rates start to drop.

[Tar]

In other news those creepy guise are gathering for another WEF meeting. I'd love to one day vote a leader in that actually works for the betterment my country, and not some evil overlord.

[razr390]

In other news those creepy guise are gathering for another WEF meeting. I'd love to one day vote a leader in that actually works for the betterment my country, and not some evil overlord.

Word is they were asking for non vaccinated pilots. Hundreds of private jets and thousands of security guards. Small army

[wap]

In other news those creepy guise are gathering for another WEF meeting. I'd love to one day vote a leader in that actually works for the betterment my country, and not some evil overlord.

Word is they were asking for non vaccinated pilots. Hundreds of private jets and thousands of security guards. Small army

Some participants only, not the WEF itself.

[golftdibrad1]

In other news those creepy guise are gathering for another WEF meeting. I'd love to one day vote a leader in that actually works for the betterment my country, and not some evil overlord.

Word is they were asking for non vaccinated pilots. Hundreds of private jets and thousands of security guards. Small army

I literally cant even. Edit: can you provide a source?

I wonder which one of the current/former members is going to drop dead from vax. Statistically, we should have 1 in a group this size.

[golftdibrad1]

PPI going back up

The index for final demand less foods, energy, and trade services rose 0.6 percent in January 2023, the largest advance since moving up 0.9 percent in March 2022. For the 12 months ended in January 2023, prices for final demand less foods, energy, and trade services increased 4.5 percent.

7.4% annulaized
INFLATION IS BACK ON THE MENU BOIS