Canadian employment remained essentially unchanged at 20.17 million in July. The Canadian unemployment rate rose to 5.5 per cent from 5.4 per cent in June, rising for the third consecutive month. Total hours worked were up 2.1 per cent year over year, while average hourly wages were up 5 per cent from July of last year.

Employment in BC was also little changed in July holding steady at 2.79 million, while employment in Metro Vancouver rose 0.2 per cent to 1.57 million. The unemployment rate fell to 5.4 per cent in BC, down from 5.6 per cent in June, while rising to 6 per cent in Metro Vancouver. 

Link: https://mailchi.mp/bcrea/canadian-employment-july-2023-august-4th-2023

For more information, please contact: Gino Pezzani.

The BCREA Economics team has created the Housing Monitor Dashboard to help REALTORS® monitor BC’s housing market. This dashboard provides up-to-date data on key variables for public education and use. The image and data are available for download under each chart, where possible.

You can check about "Resale Home Market", "New Listings", "Sales by Region", "Average Price by Region", "House Price Index by Region", "Sales to Active Listings Ratio by Region", "Starts, Under Construction, & Completions", "Months to Complete by Property Type",  "Average New Rental Rates", "Discount Mortgage Rate", "BCREA Nowcast", "Commercial Leading Indicator", "British Columbia In-Flow Migration Map"... from here.

For more information, please contact: Gino Pezzani.

Link: Housing Monitor Dashboard - British Columbia Real Estate Association (bcrea.bc.ca)

The BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for May is 1.6 per cent. For comparison, year-over-year growth in the Canadian economy in May was 1.9 per cent. The preliminary estimate for June shows a decline in year-over-year growth to just 1.4 per cent, the slowest rate of growth measured since February 2021. 

The BCREA Nowcast now includes regional growth trends grouped into five regions: Lower Mainland, Vancouver Island, Thompson Okanagan, Kootenay, and the North.

Download the full report (PDF)

For more information, please contact: Gino Pezzani.

Canadian real GDP rose 0.3 per cent from the prior month in May, following a 0.1 per cent increase in April. Goods-producing sectors of the economy declined 0.3 per cent while services-producing sectors rose 0.5 per cent. Effected by forest fires, Canada's energy sector declined 2.1 per cent in May. Construction activity contracted 0.8 per cent, driven primarily by lower residential building construction. Offices of real estate agents and brokers rose 7.6 per cent, led by higher home reselling activity in Canada's major cities. Canadian real GDP is now roughly 4 per cent above its pre-pandemic, February 2020 level. Preliminary estimates suggest that output in the Canadian economy declined 0.2 percent in June.

The headline GDP figure was solid in May as the ending of the federal worker's strike boosted growth, despite rising interest rates and wildfires dragging on the economy. While growth in May came in at 0.3 per cent, the preliminary estimate of a slowdown in June suggests an easing of growth in the second quarter of 2023, estimated at 1 per cent on an annualized basis. So far in 2023, the Canadian economy has managed to avoid a significant slowdown or recession, but a further slowing of GDP and labour markets is widely expected in the second half of the year. The softening in GDP and inflation in recent months may provide support for a slowing or pause in rate hikes going forward, but the Bank will be watching closely to ensure inflation continues easing into the fall. 

Link: https://mailchi.mp/bcrea/canadian-real-gdp-growth-may-2023

For more information, please contact: Gino Pezzani.

It's not just teenagers with purple hair and nose piercings who are dominating social media as influencers these days; dogs have joined the ranks as well!

Gone are the days of TV shows like Lassie. Now, we have Instagram pages with more viewers than some network television shows. Even tiny Pomeranians with bear-like appearances have become huge stars. Jiffpom, with his adorable face and cute outfits, has amassed an impressive following of 10 million people. Boo, the beloved Pom, was once the most famous, boasting 15 million Facebook fans.

Although Boo has passed away, his images continue to define cuteness for the world.

Talking dogs have also captured the attention of millions. Mishka, the talking husky, became a sensation with her ability to say "I love you." Despite her passing in 2017, her videos still receive significant views on YouTube. Lifestyle dogs have their own dedicated following as well. Take Maddie, the camping dog who canoes and swims, who has 1.3 million Instagram followers.

Even dogs with unusual appearances can make a splash on social media. Tuna, with his serious overbite, has gained a massive following of 2.1 million on Instagram and provides travel tips for fellow dog owners. But don't be fooled, there's big money involved too. Popular dog posts can generate anywhere from $1,000 to $10,000 per post, highlighting the lucrative nature of this industry. WOOF!

National Friendship Day, August 6. Make a new friend or reconnect with an old one!

Civic Holiday, August 7. Civic Holiday is a public holiday in Canada celebrated on the first Monday in August. Though the first Monday of August is celebrated in most of Canada as a public holiday, it is only officially known as "Civic Holiday" in Nunavut and the Northwest Territories, where it is a territorial statutory holiday.

National S'mores Day, August 10. This delicious holiday celebrates a classic summer treat - s'mores.

International Youth Day, August 12. This global observance highlights the importance of young people and their contributions to society.

National Nonprofit Day, August 17. This day recognizes nonprofit organizations’ ongoing efforts to serve the local community.

Slinky Day, August 30. A day set aside to honor a Toy Hall of Fame superstar that captured the imagination of children all around the world.

Ingredients:

1 small watermelon

1 cup Greek yogurt (or dairy-free alternative)

Assorted fresh fruits (such as berries, kiwi, pineapple and mango) Fresh mint leaves

Honey (optional)

Instructions:

• Slice the watermelon into round pizza-like slices, about 1-inch thick.

• Lay the watermelon slices on a serving platter or a large plate.

• Spread Greek yogurt evenly over each watermelon slice, leaving a small border around the edges.

• Wash and prepare the assorted fresh fruits. Cut them into bite-sized pieces or into decorative shapes, as desired.

• Arrange the fresh fruits on top of the yogurt layer, creating a vibrant and colorful display.

• Garnish with fresh mint leaves, scattering them over the fruit toppings.

• Drizzle a small amount of honey over the watermelon pizza, if desired, for added sweetness.

Serve immediately and enjoy this refreshing and healthy warm-weather treat!

Imagine the profound impact on your life if self-discipline were practiced universally. Unfortunately, many of us only display discipline in certain areas or sporadically throughout our lives.

Self-discipline, as described by motivational coach Michael Janke, is the ability to govern one's behavior based on principles, persistence, and sound judgment, rather than succumbing to desire or seeking social acceptance. An essential aspect of self-discipline is the capacity to say "no" to oneself, effectively managing our desires and impulses. This can be particularly challenging in a society driven by instant gratification. However, by practicing self-discipline, we can enhance our sense of self-worth and strengthen our character. 

Developing self-discipline requires consistent effort and strategic planning. Simply wishing for it is not enough. It is an ongoing process that demands commitment and dedication. 

Here are some steps to guide you toward achieving increased self-discipline: 

Identify aspects requiring change: Assess your life for areas where you feel
dissatisfaction or a need for improvement. 

Document past hurdles: Note challenges and roadblocks you've faced in previous attempts at changes.  

Outline motivations: Understand and list the “why” factors driving your desired changes, which can serve as a motivational push. 

Contemplate a supportive attitude: Envision the potential benefits and transformative impact of adopting changes with a positive mindset. 

Approaching this journey with a mindset of self-deprivation can make the process more difficult. Psychotherapist Carol Juergensen Sheets emphasizes the importance of cultivating enthusiasm for the positive changes that arise from practicing self-discipline. 

Unleash your potential through self-discipline. Embark on a transformative journey toward personal growth, success, and fulfillment. Start today for a rewarding future.

Canadian retail sales increased 0.2 per cent in May to $66 billion, led by sales of motor vehicles and parts as well as food and beverage. However, excluding volatile items like car sales, retail sales were essentially unchanged month-over-month. In BC, retail sales jumped 2.7 per cent, rising for a third consecutive month and were up 1.9 per compared to 1-year ago.

Although BC retail spending has ticked higher in recent months, overall Canadian retail sales were up just 0.5 per cent compared to this time last year and preliminary estimates for June show flat sales. This could signal that consumer spending is finally slowing down following a year of aggressive tightening by the Bank of Canada. 

Link: https://mailchi.mp/bcrea/canadian-retail-sales-may-2023-july-21-2023

For more information, please contact: Gino Pezzani.