In this episode of Canada’s Economy Explained: The Business Data Lab Podcast, host Marwa Abdou speaks with Stephen Tapp, Chief Economist, and Patrick Gill, Senior Director, about the key economic predictions shaping Canada in 2025. The conversation covers affordability pressures, labour disruptions, immigration slowdowns, and the potential impact of Trump’s tariffs.

Affordability remains a top concern, even as inflation stabilizes at 2 percent. “We’ve lived through a generational price increase,” says Stephen, noting that essentials like housing and groceries remain expensive. Labour disruptions continue to be a challenge after a record-breaking year for work stoppages. “A number of collective bargaining agreements are opening up at a time when inflationary pressures are still driving wage demands,” Patrick explains.

Businesses are also facing risks from slowing immigration, declining interest rates, and shifting trade policies. The discussion explores what companies can do to prepare, including adopting AI, upskilling employees, and diversifying supply chains.

Resources

• Canada-US Trade Tracker
• Prompting Productivity Report