Stats & Facts

5%

Housing starts were down nearly 5 per cent in September, to 271,068 units from 284,757 units in August. Single-detached and multi-family seasonally adjusted annual rate (SAAR) starts were both lower in Canada’s urban areas in September, which led to a decline in overall SAAR starts for the month. However, on a trend and monthly SAAR basis, the level of housing starts activity in Canada remains high in historical terms. Among Vancouver, Toronto and Montreal, Vancouver was the only market not to register growth in total SAAR starts, due to a decline in the multi-family segment.

—Canada Mortgage and Housing Corp.

4.4%

157,100

The Consumer Price Index inched higher in September, reaching 4.4 per cent — the highest year-over-year growth since February 2003. This figure reflects the rapid rise in consumer prices, which was mainly driven by higher production costs. Disruptions to supply chains, high shipping costs and a lack of truck drivers in Canada are expected to last until the first half of next year. As a result, supply chain disruptions will continue to keep prices elevated.

The Canadian economy added 157,100 jobs in September, pushing total employment beyond the 19 million mark for the first time since the pandemic’s onset. More than 90 per cent of employment growth stemmed from gains in the services economy. Across the goods economy, the performance was mixed. After an energetic start to the year, residential construction cooled over the summer and in September, construction employment fell by 10,900. However, these declines were offset by employment growth in manufacturing, up 22,100. Employment rose in the provinces of Ontario, Quebec and Manitoba. There was minimal change in British Columbia, Prince Edward Island and Nova Scotia. Despite the overall growth in employment, there was little progress in reducing the number of long-term unemployed. In September, 389,000 people were long-term unemployed, compared to 179,000 recorded prior to the pandemic.

—Conference Board of Canada

$8.6 billion

Revenue from veneer, plywood and engineered wood product manufacturing in Canada is expected to amount to approximately $8.6 billion US by 2024.

—Statista

$55.8 billion

The global wood flooring market is projected to reach $55.8 billion US by 2026. Changing lifestyles, growing urban population in the Asia-Pacific region, rise in spending on home renovations and increasing consumer demand for eco-friendly materials are some of the key growth drivers augmenting demand for this flooring type. Wider planks, longer boards, lighter and natural wood colours like white oak and matte sheen finishes are some of the emerging trends witnessed in the wood flooring space. At present, engineered products are dominating the wood market, owing to the increasing number of manufacturers that prefer this product due to its positive attributes that include cost efficiency and dimensional stability.

$560 million

Orders for manufacturing technology totalled $560 million US in August, an increase of nearly 20 per cent monthover-month and up 89 per cent from August 2020. The year-to-date total reached $3.55 billion US, the highest value through the first eight months of a year since 1988.

—Association for Manufacturing Technology

5.8% 1 in 5

The great resignation trend may accelerate across Canada. Half of workers think they’re earning less than they deserve, with millennials and women feeling the most shortchanged. Roughly one in five employees would consider quitting their job if they don’t receive a raise by year’s end. When weighing job offers, it’s not all about the money. Seventy-five per cent of workers are looking for flexible work schedules, followed by remote work options (61 per cent) and employee discounts (40 per cent).

—Robert Half

43.2 points

Small business confidence fell steeply in September. The three-month outlook dipped more than 12 points to 43.2, while the 12-month outlook lost more than nine points and is now at 57.8 — the biggest decreases since the start of the pandemic in March 2020. While all provinces registered significant drops in optimism on both the long and short-term indexes, businesses in Quebec and Ontario saw the biggest decreases. On the sectoral side, professional services, hospitality and construction experienced the largest short-term drops, while agriculture and retail saw the greatest long-term decreases. Anxieties fuelling the dip in confidence include labour shortages, supply chain challenges and the impending end of federal government support programs.

—Canadian Federation for Independent Businesses

Wood product sales continue to fall. Following a 5.8 per cent decline in June, sales of wood products fell 21.8 per cent in July, driven by prices. At the same time, the total value of building permits in Canada dipped 3.9 per cent. Despite the recent declines, wood product sales were up 46 per cent year-over-year in July.

2.1%

Demand for bricks, blocks and pavers is forecasted to rise 2.1 per cent annually to $8.1 billion US in 2025, supported by the rising popularity of hardscaping and outdoor living projects like walkways, backyard gardens and patios. Unit sales of all three will remain elevated into 2022, but will begin to decline from their peak as residential construction activity, which surged during the pandemic, moderates, dragging down average growth through 2025.