In this Weekly Address we have included some of the latest industry news as well a new video from Scott McGillivray. Lots to cover.

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Today’s reading time is 3½ minutes. 

📰 Industry News

The unemployment rate rose to 6.2 per cent in May, and the employment rate fell to its lowest level since late 2021. The economy gained jobs, but they were all part-time. Full-time positions dropped the most in one month in almost two years. (Financial Post)

Conservative Leader Pierre Poilievre and his party opposed the Liberals’ plan to increase Canada’s capital gains inclusion rate on Tuesday, in a vote that still passed with the backing of the NDP and Bloc Quebecois. (CTV)

Recreational property prices on Vancouver Island and across Western Canada will likely rise this year as many owners hang on to properties despite interest rates, short-term rental restrictions and a proposed capital gains tax increase, according to two key reports. (Times Colonist)

Housing Minister Sean Fraser announced the launch of a $1.5-billion co-operative housing development program that the federal government promised in its 2022 budget. Fraser was in Winnipeg on Thursday to announce the program, which Liberals touted as the largest federal investment in co-op housing in 30 years. (Vernon Morning Star)

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