{"id":11543,"date":"2015-08-28T07:28:36","date_gmt":"2015-08-28T12:28:36","guid":{"rendered":"http:\/\/olduvai.ca\/?p=11543"},"modified":"2015-08-28T07:29:34","modified_gmt":"2015-08-28T12:29:34","slug":"11543","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=11543","title":{"rendered":"Canada&#8217;s economy: 5 reasons not to panic"},"content":{"rendered":"<div class=\"story-headline\">\n<h3 class=\"story-title\"><a href=\"http:\/\/www.cbc.ca\/news\/business\/canada-s-economy-5-reasons-not-to-panic-1.3205652\" target=\"_blank\">Canada&#8217;s economy: 5 reasons not to panic<\/a><\/h3>\n<\/div>\n<p class=\"story-deck\"><strong>Cheap gas, solid hiring and a strong housing market help Canadians weather the financial storm<\/strong><\/p>\n<p>A recent spate of frightening economic headlines paints a dire picture of the economy, but\u00a0an examination of some basic gauges of Canadians&#8217; financial health\u00a0demonstrates\u00a0it&#8217;s\u00a0not all doom and gloom.<\/p>\n<ul>\n<li><strong><a href=\"http:\/\/www.cbc.ca\/news\/business\/tsx-dow-charge-higher-as-market-gloom-over-china-dissipates-1.3205315\">TSX, Dow charge higher as market gloom over China dissipates<\/a><\/strong><\/li>\n<li><a href=\"http:\/\/polopoly.nm.cbc.ca:8080\/preview\/www\/2.625\/2.630\/2.637\/1.3205752\"><strong>Oil climbs above $42 US a barrel after stocks rebound<\/strong><\/a><\/li>\n<li><a href=\"http:\/\/www.cbc.ca\/news\/business\/students-those-approaching-retirement-more-vulnerable-to-market-swings-1.3204914\"><strong>Students, those approaching retirement more vulnerable to market swings<\/strong><\/a><\/li>\n<\/ul>\n<p>News of plummeting oil prices, the\u00a0struggling stock market and a loonie that recently dipped\u00a0below\u00a0the 75-cent US level for the first time in more than a\u00a0decade have\u00a0Canadians on edge and\u00a0fearful for their\u00a0their futures,\u00a0as\u00a0<a href=\"http:\/\/www.cbc.ca\/news\/business\/canada-is-not-in-a-recession-influential-group-of-economists-says-1.3170836\">economists debate whether this country is\u00a0in a recession<\/a>.<\/p>\n<p>But already, things are looking up. The North American and global\u00a0<a href=\"http:\/\/www.cbc.ca\/news\/business\/stock-markets-jump-as-shanghai-index-ends-run-of-losses-1.3205315\">stock markets surged<\/a>\u00a0on\u00a0Thursday,\u00a0<a href=\"http:\/\/www.cbc.ca\/news\/business\/oil-surges-above-40-us-a-barrel-after-stocks-climb-1.3205752\">oil rebounded to\u00a0above $42\u00a0US a barrel<\/a>\u00a0and the Canadian dollar recovered to\u00a0above the\u00a075-cent line.<\/p>\n<p>While the effects of the economic downtown on Canadians\u00a0should not be downplayed, there are plenty of reasons not to panic\u00a0\u2014\u00a0hiring remains\u00a0steady, home values are up, gas prices are down, people are generally managing their debt responsibly and most Canadians have\u00a0nice nest eggs of savings and investments.<\/p>\n<h2>1. Most people are working<\/h2>\n<div class=\"figure\"><img decoding=\"async\" src=\"http:\/\/i.cbc.ca\/1.3146960.1440696569!\/fileImage\/httpImage\/image.jpg_gen\/derivatives\/original_620\/help-wanted-sign.jpg\" alt=\"Help wanted sign\" width=\"100%\" \/><\/p>\n<p class=\"figure-caption\">Hiring has remained steady in Canada despite a shrinking economy. (CBC)<\/p>\n<\/div>\n<p>The most recent job numbers from Statistics Canada show\u00a0that employment in Canada is\u00a0steady and job growth is modest.<\/p>\n<p>In July, the economy created 6,600 additional jobs, and the\u00a0unemployment rate remained at 6.8 per cent for the sixth straight month.<\/p>\n<p>&#8220;Make no mistake, this is not a strong report &#8230; but it&#8217;s also not notably weak,&#8221; BMO chief economist Douglas Porter\u00a0<a href=\"http:\/\/www.cbc.ca\/news\/business\/canada-added-modest-6-600-jobs-in-july-1.3182632\">told CBC News at the time<\/a>.\u00a0&#8220;While many have been quick to label this year&#8217;s economic performance a recession, the job numbers just haven&#8217;t backed that up.&#8221;<\/p>\n<p>As of July, Canada had added\u00a0100,000 jobs in 2015, despite a\u00a0major downturn in the oil and gas sector.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canada&#8217;s economy: 5 reasons not to panic Cheap gas, solid hiring and a strong housing market help Canadians weather the financial storm A recent spate of frightening economic headlines paints a dire picture of the economy, but\u00a0an examination of some basic gauges of Canadians&#8217; financial health\u00a0demonstrates\u00a0it&#8217;s\u00a0not all doom and gloom. TSX, Dow charge higher as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[103,6315,3544,3000,260,594],"class_list":["post-11543","post","type-post","status-publish","format-standard","hentry","category-economics","tag-canada","tag-canadian-economy","tag-cbc","tag-cbc-news","tag-employment","tag-oil-prices"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/11543","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11543"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/11543\/revisions"}],"predecessor-version":[{"id":11545,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/11543\/revisions\/11545"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}