Are We In A Recession 2024 Canada. After the bank of canada hiked interest rates at an unprecedented pace the last couple of years, there's been a lot of talk about whether we'll be tipped into a recession. And while canada’s economy is weaker than the u.s.’s, our strong labour market should reduce the effects of any economic downturn.
The jobs market has come off the boil, having steadily weakened throughout 2023 as high interest rates worked their way through the economy and dampened demand. 1:48 canada’s economy is ‘staying out of serious trouble,’ recent data shows.
