Fast Facts Friday: July 7, 2023

Catch up on the latest facts and read more via the links below in case you missed them this week!

1. In March 2023, the business closure rate increased for the second consecutive month, settling at 4.6%, while the business opening rate dropped for the third straight month to 4.3%.– The Daily — Monthly estimates of business openings and closures, March 2023
2. From 2017 to 2021, the market share of private short-term rentals in the accommodation services subsector in Canada more than doubled. – The Daily — Study: The importance of short-term rentals in the accommodation services subsector, 2017 to 2021
3. In April 2023, the number of non-resident visitors to Canada and returning Canadian residents accounted for 81.4% of the level observed in April 2019, before the COVID-19 pandemic. – The Daily — Travel between Canada and other countries, April 2023 
4. Jet fuel production and prices have taken off in tandem with air travel in 2022. In December 2022, jet fuel cost 62% more compared with 2019, and passengers paid just over 26% more to fly. – Jet fuel production and prices have taken off in tandem with air travel - Statistics Canada
5. In May 2023, Canada's merchandise imports rose 3.0%, while exports decreased 3.8%. – The Daily — Canadian international merchandise trade, May 2023 
6. Average hourly wages rose 4.2% (+$1.32 to $33.12) on a year-over-year basis in June (not seasonally adjusted). This was the slowest year-over-year growth in average hourly wages since May 2022. – The Daily — Labour Force Survey, June 2023
7. Canada's monthly international trade in services deficit narrowed from $1.2 billion in April to $1.1 billion in May. Overall, imports of services were down 0.5% to $15.7 billion, due to lower commercial services (-1.2%), namely financial services. – The Daily — Canadian international trade in services, May 2023
8. Most wealth is held by relatively few households in Canada. The wealthiest (top 20%) accounted for more than two-thirds (67.8%) of net worth in the first quarter, while the least wealthy (bottom 40%) accounted for 2.7%. – The Daily — Distributions of household economic accounts for income, consumption, saving and wealth of Canadian households, first quarter 2023