Expand chart
Data: Statistics Canada; Chart: Axios Visuals

The Canadian economy added 27,700 jobs in May, bringing the year-over-year job gains to 453,100, and pushing the unemployment rate to 5.4%, the lowest level since 1976.

But, but, but: Canada's economy grew at an annualized pace of just 0.4% in the first quarter, following 0.3% growth in the fourth quarter of 2018, giving the country its weakest back-to-back quarters of growth since 2015.

  • Canada's household savings rate fell to 1.1% in the first quarter. That's 5.6% below the U.S. savings rate, the widest the disparity has been since the 1970s.
  • Canada's ratio of debt to income reached 176% in the fourth quarter, among the highest in the developed world, and 24 percentage points higher than the U.S. rate.

On the bright side: The Bank of Canada forecasts a rebound in the second half of the year with Canada’s GDP expected to grow by 1.2% this year, wages are rising and consumers are growing less pessimistic about the economy.

Go deeper: 2018's escalating exodus of U.S. tech workers to Canada

Go deeper

Dion Rabouin, author of Markets
48 mins ago - Economy & Business

Wall Street fears meltdown over election and Supreme Court

Illustration: Aïda Amer/Axios

The death of Justice Ruth Bader Ginsburg and President Trump's vow to name her replacement to the Supreme Court before November's election are amplifying Wall Street's worries about major volatility and market losses ahead of and even after the election.

The big picture: The 2020 election is the most expensive event risk on record, per Bloomberg — with insurance bets on implied volatility six times their normal level, according to JPMorgan analysts. And it could take days or even weeks to count the record number of mail-in ballots and declare a winner.

Election clues county by county

Ipsos and the University of Virginia's Center for Politics are out with an interactive U.S. map that goes down to the county level to track changes in public sentiment that could decide the presidential election.

How it works: The 2020 Political Atlas tracks President Trump's approval ratings, interest around the coronavirus, what's dominating social media and other measures, with polling updated daily — enhancing UVA's "Crystal Ball."

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 31,605,656 — Total deaths: 970,934 Total recoveries: 21,747,491Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 6,897,432 — Total deaths: 200,814 — Total recoveries: 2,646,959 — Total tests: 96,612,436Map.
  3. Health: The U.S. reaches 200,000 coronavirus deaths — The CDC's crumbling reputation — America turns against coronavirus vaccine.
  4. Politics: Elected officials are failing us on much-needed stimulus.
  5. Business: Two-thirds of business leaders think pandemic will lead to permanent changes — Fed chair warns economy will feel the weight of expired stimulus.
  6. Sports: NFL fines maskless coaches.

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Subscription failed
Thank you for subscribing!