Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Should Canada ditch the mortgage stress test? What experts are saying

Despite recent interest rate cuts, the Canadian real estate market remained slow this summer. This has prompted some in the industry to call for an end to the stress test – a tool that determines whether a person can qualify for a mortgage. But would it be a good idea?

Can a Sole Proprietorship pay an owner salary in Canada?

Starting a business is an exciting journey, but it also comes with a myriad of questions, especially when it comes to managing finances. One common question is whether a Sole Proprietorship can pay themselves a salary in Canada.

Bank of Canada summary suggests weak job market was a concern ahead of July rate cut

The Bank of Canada wants the economy to pick up speed again and some members of its governing council are concerned that weak job market conditions could hinder that process. That’s according to the central bank’s newly released summary of deliberations detailing discussions ahead of the July 24 rate decision.

Canadians increasingly worried about economy and their finances

Our perception of the national economy has worsened since the start of the year. Just under a third of Canadians (32 per cent, down three points since January) rate the economic conditions in Canada today as “very good” or “good,” while 64 per cent (up three points) consider them “poor” or “very poor.”

Canada unexpectedly loses 2,800 jobs in July

Canada’s economy shed a net 2,800 jobs in July, as gains in full-time work were offset by part-time job losses, while the unemployment rate remained at a 30-month high of 6.4 per cent, data showed on Friday.

Canada rejects CN Rail’s request for binding arbitration in labor dispute

Canadian Labour Minister Steven MacKinnon has rejected a request by Canadian National Railway to initiate binding arbitration in a labor dispute with the Teamsters union, a spokesman for the minister said on Thursday.

Temporary resident cap risks economic harm, business groups say

Canada’s independent business advocate says Prime Minister Justin Trudeau’s plan to reduce temporary immigration risks dire economic consequences, underscoring the pressures the government is facing as it tries to slow population growth.

Statistics Canada reports wholesale sales down 0.6% in June

Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, fell 0.6 per cent to $82.4 billion in June. The agency says sales fell in five of the seven subsectors.

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