This Week’s Top Stories: Canada’s Credit Crunch Is Here, and Most Job Gains Are Temporary

Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Credit Crunch: Peak Homebuyer Defaults & Renter Insolvencies Soar Canadian households are cracking under the pressure of supersized debt loads. New data from TransUnion shows household debt hit $2.64 trillion in Q2 2026, up 4.6% from last year. The credit agency warns this growth is driven by rising balances, not new loans. Rising risk has already become apparent in soaring insolvencies and mortgage delinquencies. Continue Reading… Most of Canada’s Employment Gains Are Temporary, 4x The Normal Share Canada’s job boom suffered a setback last month, shedding 41,700 jobs in August. It’s a sharp drop, but employment is still up 216,500 jobs from last year. While the headline data isn’t concerning, there’s a real problem emerging—job permanence. Most (51%) of jobs added in the past year are temporary roles, despite making up just 13.5% of total employment. It’s a strong warning that the recent growth may be fleeting in the face of a serious economic shock. Continue Reading… Bank of Canada Holds Rates On Renewed Inflation Concerns Canada’s central bank held its key policy rate steady at 2.25%, where i...