Will Canada see a recession by the end of 2022?

A new report by Deloitte suggests that Canada will enter a short technical recession by the end of the year, a scenario that brings both good and bad news. Experts at Deloitte say that a tight labour market and a big savings cushion that many people and businesses have accumulated during the pandemic are going to help soften the blow.

Global’s Anne Gaviola speaks with Brett Chang from The Peak Daily podcast, who says that the future is uncertain. Traditionally, a recession means a combination of economic decline over multiple months as well as a simultaneous increase in an open and expansive labour market with high unemployment — which is not what we’re seeing at the moment.

A combination of a tight labour market with declining markets has not been seen before, meaning Deloitte experts are also navigating unprecedented waters.

With this in mind, will Canada see a recession by the end of the year? Gaviola and Chang explain.

#GlobalNews #ThePeakDaily #Economics

[vasilytanygin]

Real question is - will media be allowed to say there is a recession.

[Jezballz]

Only if the WEF tells Trudeau we are in a recession🙂

[palevell]

Did the current recession already end? 🤡🌎

[Wildsam]

We have reached the recession, now we are heading into the depression 😮

[hgjghjvg]

Don't worry, we have masks and vaccine to get us thru the pandemic. Pretty sure masks and vaccine can get us thru the recession as well since the covid shot can booster mental health based on the expert's opinion, it can keep us happy

[Jibril_Abdulkadir]

What savings when inflation is so high 😂

[UndividedNetwork]

lol, 2 quarters of downturn in economic activity is a recession, so what do you call 2 years... a boom?

[davek]

Canada is already in a recession. You’ll see a depression in 2023. And if you complied with lockdowns, you’re partly responsible.

[justworkingfortheweekend]

The scantions will work against Canada like it has it has so far

[truth]

Savings Cushion? If there was any savings cushion built up during 2020 and 2021, for most people that has been gobbled up by high inflation, especially when it comes to fuel prices. It is only getting worse with rising interest rates and its effects on mortgages.

[groovyengineer]

Lemme fix this for ya :
"How bad will Canada's recession be" ?

[jordantucker]

We are already in a recession what are y’all on about get ready for a depression

[theschiznit]

Anybody remember when they were pushing the transitory inflation schtick?

[popmeow]

I can't afford to eat but the govt is giving Global News my tax dollars to produce this garbage

[craigfaille]

Love the comments. People are waking up in Canada. 👍👍🇨🇦

[mathias]

Lol there are ppl literally living in parks and tents all across the country and these out of touch Richy Richies are wondering if we might be heading towards a recession 🤣🤡

[charliekim]

Are we not already in one?...most of us have lost $$$ on our RRSPs ect.

[workingtools]

Bring it! Waiting for stocks to go on sale.

[CJ]

what? who saved money during the last 3 years ???

[cathandra]

The trickle down effect you know that thing rich people say to reassure the poor will get a cut at some point (never happens)