Trump 2.0: The First 100 Days | Canada

What to Watch: Jobless Claims Initial and Renewal Claims for Unemployment Insurance (Ths.)

Impact on CRE

• Job layoff announcements have been creeping higher recently, but the number of Canadians filing for unemployment insurance has not increased materially, yet. • The jobless claims may be lagging for a variety of reasons, including the fact that most people do not file until their severance expires. • That said, the trade war has made Canadians across different job groups feel less secure. • The hiring rate has slowed relative to the past several years, and job gains are highly concentrated in a few industries. This alone will weigh on demand for CRE across a variety of uses, but is not alone a predictor of recession. Not until we see a decisive upward trend in jobless claims should we expect widespread job loss and rising unemployment rate. Jobless claims can serve as a useful leading indicator to watch for breaks in the labor market.

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Source: Statistics Canada

Cushman & Wakefield