Canada’s parliament returned last week as the Liberal government gave its Throne Speech on September 23. The message was clear: do “whatever it takes” to help Canadians and the economy get through the COVID-19 pandemic.
The ambitious plan will likely cost billions, but it will provide much needed support to Canadians and businesses. More support will also be provided to provinces for better testing. The government plans to bolster employment by making a significant investment in infrastructure and other areas of the economy. While the government revamps employment insurance (“EI”) and ends CERB, it will look to provide the Canada Recovery Benefit for those who don’t qualify for EI but are still struggling.
U.S. manufacturing activity expanded at a faster pace in September: US manufacturing sector activity hits 5-month high in September, IHS Markit says
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The potential economic impact of a pullback in further fiscal stimulus: What happens if there is no second stimulus package?
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Reasons for hope
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Adapting your business
Working from home will result in new work habits: Apple CEO impressed by remote work, sees permanent changes
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Growing your business: Barbara Corcoran’s 5 tips for surviving and thriving in the pandemic
How to handle your personal finances during the pandemic: How to cope if the COVID-19 pandemic has stretched your finances to the limit
What advisors are looking for from asset managers: Advisors need asset managers to adapt in pandemic times
Chart of the week: U.S. real estate demand building
U.S. real estate activity came to a near halt in response to COVID-19 lockdowns. Pent-up demand, low mortgage rates and a shift in living arrangements, however, are contributing to a swift recovery in the U.S. real estate market.
As more people shift to work-from-home arrangements, they are moving into houses outside of big cities, which has increased demand for housing, including previously owned and newly built homes. Existing home sales rose to 6.0 million units in August, the highest level since 2006.
Used with permission of Bloomberg Finance L.P.
News and notes (U.S.)
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News and notes (Canada)
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