Needless to say, this is the end of any hope for a Canadian rutting season real estate revival. As BMO economists said this morning, “this ranks as one of the worst (non-pandemic) months ever for jobs. Job losses happened in eight of then 10 provincesThe unemployment rate zipped higher by two ticks to 6.7%. And the unemployment rate of 6.7% – as much as it exceeds the US rate of 4.3% – would have been even higher if our pool of workers was not shrinking. So, big oil probably means more inflation but the CB can’t raise rates to cool it with the labour market on its knees.

Source: CBC News March 13, 2026 20:47 UTC