2015 Canadian Business Stories That Got People Talking

Without prejudice to other readers, it could be said that a few of the topics that Canadians are interested in has to do with the unemployment rate and inflation. Obviously, the year is 2016 but it is important to highlight a few stories that got readers or viewers talking in the previous year.

Take a look at some of them.

#1. Target Canada… And Others

Target Canada, one of America’s-based-in-Canada retailers closed shop in 2015 with $2 billion in loss. It had grown the Canadian expectation of lowered prices and better selection of stores. However, it failed in doing so and closed up in 2 years.

Its departure increased national attention on the retailers in the country and about the growing redundancy rates and closing of stores as a result of online shopping.

#2. Soaring House Prices and Household Debt

The Canadian housing market is one issue plaguing the hearts and minds of many. The question as to whether there is a housing bubble or not has pushed so many into the housing market and others out.

It’s no news that house prices have been on the rise in the hottest markets, acquiring the double-digit status over the recent years and debts also on the upswing.

Overvaluation in the housing markets is now a major concern for various institutions especially for Canada Mortgage and Housing Corp and the Bank of Canada. Indebted households are also considered one of the grey areas for Canada’s economic growth.

Experts maintain, though, that affordability will still be present as long as mortgage rates stay at a minimum.

#3. Employment In A Messy Economy

Canada’s employment market had a rocky year. Although it had 124,000 new jobs leading to November 2015, representing 0.7 percent, it was quite too little to cover the growth in population.

Ontario and British Columbia have, however, encountered a strong job growth.

#4. Oil Price Flop

The collapse in oil prices last year led to a growth in unemployment in some oil-producing provinces and got most people worried.

It signed off the long joyride that the oil industry encountered, especially with Stephen Harper leaving the prime minister’s office.

Probably the last thing to expect is Canada is topping the oil superpower list.