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Canada’s unemployment rate just spiked to 7.1% — a nine-year high — fueling fears that a recession may be around the corner. With job losses mounting and tariffs biting, the Bank of Canada faces growing pressure to cut interest rates. #bankofcanada #canadaeconomy #canadianeconomy Links: Posthaste: Recession talk in Canada is growing as sobering jobs picture comes into view: https://financialpost.com/news/canada... ‘Warning lights are flashing,’ economist says as unemployment hits 7.1%: https://globalnews.ca/news/11394548/c... Posthaste: Is a Bank of Canada rate cut in the bag given the cratering job market?: https://financialpost.com/news/bank-o... Is a big Bank of Canada rate cut on the way?: https://www.mpamag.com/ca/mortgage-in... ‘Exceptionally weak’ jobs report prompts markets, economists to revise expectations for next BoC rate decision: https://www.theglobeandmail.com/inves... Weak jobs report adds pressure on Bank of Canada, but inflation still holds the key: https://www.canadianmortgagetrends.co... Summary of Governing Council deliberations: Fixed announcement date of July 30, 2025: https://www.bankofcanada.ca/2025/08/s... Federal Funds Effective Rate: https://fred.stlouisfed.org/series/DFF Unemployment rate climbed to 7.1 per cent in August as economy lost 66,000 jobs: https://www.thestar.com/business/cana... Canada's unemployment jumps to 7.1% in August, as tariffs curb business confidence: https://www.reuters.com/sustainabilit... London-area home sales rebound as buyers shake off Trump tariff fears: https://lfpress.com/news/local-news/l... Testy sellers, cautious buyers as real estate market adjusts to global trade uncertainty: https://www.theglobeandmail.com/real-... Carney Unveils Billions in Aid for Canada’s Tariff-Hit Firms: https://www.bloomberg.com/news/articl... Tariff-threatened manufacturing, auto cities in Ontario among highest unemployment rates in Canada: https://www.insauga.com/tariff-threat... Union braces for fallout as Cami auto plant workforce cuts deepen: https://lfpress.com/news/local-news/u... Carney holds ‘productive’ call with Trump as U.S. trade war stretches on: https://globalnews.ca/news/11344400/d... Ford, feds say they had 'productive' meeting with top Trump trade official in Washington: https://www.cbc.ca/news/politics/cana... Carney unveils billions in funding, Buy Canadian policy to combat Trump's tariffs: https://www.cbc.ca/news/politics/carn... US on the Precipice of a Recession, Economist Dutta Says: https://www.bloomberg.com/news/videos... U.S. labour market weakens with little job growth and rising unemployment: https://www.cbc.ca/news/business/us-j... Mark Mitchell – Mortgage Broker London Ontario 920 Commissioners road east London, Ontario N5Z 3J1 Phone: (519)860-2102 (Call or Text) MarkMitchell@LondonOntarioMortgages.ca Brokerage Lic: 10464 Broker Lic: M16001479 https://www.LondonOntarioMortgages.ca – Apply Online!! Youtube Channel: / markmitchellmortgagebrokerlondonontario Subscribe NOW for more Mortgage/Financial News/Videos. Follow me on Social Media: Instagram - / mortgagebrokerlondonontario Facebook - / londonontariomortgages Twitter - / londonmortgage1 LinkedIn - / mark-mitchell-london-s-mortgage-broker-197... TikTok - https://www.tiktok.com/@mortgagebroke... Commentary on this Channel should not be considered financial advice.