Canada Economics News
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Canada added 15,000 jobs in April, enough to push jobless rate to record-low 5.2%
Canada's economy added 15,300 jobs in April, the third monthly increase in a row after a major hit from Omicron earlier in the year. Sask. to increase minimum wage to $13 in Oct., $15 in 2024
The Saskatchewan government is boosting the minimum wage to $13 per hour in October and says it will increase it to $15 in 2024. Pierre Poilievre promises to quash Bank of Canada's foray into digital currency
Conservative leadership contender Pierre Poilievre promised Thursday he'd spike the Bank of Canada's proposal to offer a digital currency, saying this sort of financial instrument should be left to the private sector. Canada's working-age population is older than ever, StatsCan says
Canada’s working-age population is older than it has ever been, with more than one in five working adults now nearing retirement in a demographic shift that will create significant challenges to the Canadian workforce in the coming decade, according to Illegal oil refinery blast that killed more than 100 a 'national disaster,' says Nigeria's president
Charred bodies were left scattered among burnt palms, cars and vans on Sunday after a weekend explosion which killed more than 100 people at an illegal oil refining depot on the border of Nigeria's Rivers and Imo states.
Charred bodies were left scattered among burnt palms, cars and vans on Sunday after a weekend explosion which killed more than 100 people at an illegal oil refining depot on the border of Nigeria's Rivers and Imo states. IMF downgrades outlook for global economy to 3.6% this year
The International Monetary Fund on Tuesday downgraded the outlook for the world economy this year and next, blaming Russia's war in Ukraine for disrupting global commerce, pushing up oil prices, threatening food supplies and increasing uncertainty already Bank of Canada hikes benchmark interest rate to 1%
The Bank of Canada hiked its benchmark interest rate by half a percentage point to one per cent on Wednesday, a sign the bank is making good on its pledge to battle runaway inflation. U.S. inflation rate keeps heading higher, now up to 8.5%
The U.S. inflation rate is soaring at its fastest pace in more than 40 years, with costs for food, gasoline, housing and other necessities squeezing consumers and wiping out the pay raises that many people have received. Fees for consumers have doubled on Calgary utility bills since 2010
Customers are frustrated and ticked off at these add-ons fees — which appear with little explanation and can add up to more than the cost of the energy used. Brace yourself: Interest rates could be headed up even faster and higher than we thought
When the Bank of Canada raised its benchmark interest rate for the first time in two years earlier this month, it sent an unmistakable message to borrowers that the era of cheap money was coming to an end. Now some economists and bank watchers are startin 'I don't wish it on my worst enemy': Calgarians detail life with an electricity load limiter
With utility fees and rates rising, some Calgarians can't pay their bills. After a few missed payments, they may find themselves strapped with a load limiter and facing disconnection. More Canadians than ever can't afford to buy a home. But is owning always better than renting'
With housing prices rising at a significantly faster pace than wages, home ownership has become increasingly unaffordable for Canadians. Canada added 337,000 jobs last month, twice what was expected
Canada's job market bounced back in a big way in February, shaking off the losses brought about from the Omicron variant with a hiring surge that was enough to push the unemployment rate below where it was before the pandemic started. Bank of Canada hikes key interest rate to 0.5%
The Bank of Canada raised its benchmark interest rate to 0.5 per cent on Wednesday, a move that's expected to be the first of a series of small rate hikes this year in an attempt to tame inflation that has risen to its highest point in decades. Why economists say it's a bad idea to rely on a privately owned bridge for 25% of Canada's trade with U.S.
When the Ambassador Bridge — a key trade corridor between Windsor, Ont., and Detroit, Mich., — was gridlocked by protests earlier this month, it exposed a weak link in Canada's supply chain. Experts of all stripes agree it's risky for Canada to rely s Everything inflation: It's not just gas and food anymore — and wages aren't keeping up
New figures out last week show that rather than a few individual products, inflation has become general, leaving Canadian wage-earners at a disadvantage. Some fear the rise in "core" is a step back for inclusive economic growth. Here's how many P.E.I. potatoes will be destroyed because the U.S. border is closed
The potatoes must be destroyed this winter. Canada lost 200,000 jobs in January as Omicron hit hard
Canada's economy lost 200,000 jobs last month, according to Statistics Canada, as COVID-19 shutdowns related to the Omicron variant saw many businesses close up shop. Condo owners in aging building face $14M in repairs. If they can't pay their part they risk losing their homes
As much as $9 million of debt plus a rapidly deteriorating structure caught up to York Condominium Corporation No. 82, which runs the 321-unit building in Toronto's Jane and Finch neighbourhood. Canada's trade surplus swells to 13-year high
Canada's trade surplus widened for sixth straight month, providing more evidence that the economy built up strength before the Omicron surge We'll all be paying a lot more for food next year, says Canada's Food Price Guide
Sky high food prices were one of many negative impacts that Canadians felt during the pandemic plagued year of 2021. And a new report suggests that problem is only going to get worse next year. Huge 20-Year Study Shows Trickle-Down Is a Myth, Inequality Rampant
The bottom 50% of the world holds 2% of wealth, while the top 10% holds 76%, according to a huge data set that leading economists compiled for years. Bank of Canada ends QE bond buying program, a sign that higher rates are coming
Canada's central bank is keeping its benchmark policy interest rate right where it is, but is signalling that higher rates are coming soon. Canadian-born David Card among 3 winners of Nobel in economics
A Canadian is among the three U.S.-based economists awarded the 2021 Nobel Memorial Prize for pioneering research on the labour market impacts of minimum wage, immigration and education, and for creating the scientific framework to allow conclusions to be Firms urge help as gas prices soar to record high
The UK's gas benchmark price hits record highs on Wednesday after rising 37%. Lumber crash leads to 'blowout' sales as prices crater
Homeowners who resisted the urge to renovate during the first 18 months of the pandemic may find now is their chance, as lumber prices that soared to dizzying heights in the spring have crashed back down to earth. Ottawa is lending billions to developers. The result: $1,500 'affordable' rents
The federal government has lent developers billions of dollars to jump-start rental construction, all with affordability requirements. But data released under access-to-information shows that more than half of the projects will have average rents higher t 'Absolute fear and panic': CERB clawbacks affecting quality of life for N.W.T. seniors
George Lessard saw his federal government pension payments dwindle after receiving the Canada emergency response benefit (CERB) in 2020. He's sharing his experience so other seniors know that they could also see their incomes affected this year. Average house price in Whitehorse climbs $100K since last year
Yukon's real estate market has shown no sign of cooling down in recent months, with the average sale price for detached home in Whitehorse jumping 19 per cent — or more than $100,000 — since last year. MIT Predicted in 1972 That Society Will Collapse This Century. New Research Shows We’re on Schedule.
A 1972 MIT study predicted that rapid economic growth would lead to societal collapse in the mid 21st century. A new paper shows we’re unfortunately right on schedule. Taxpayers have spent at least $23B on pipeline subsidies and supports since 2018: report
As calls to end government subsidies of fossil fuels grow in intensity, a new report finds that taxpayers have allocated billions of dollars to expand and build new pipelines in the past year alone. Warren Buffett and the myth of the ‘Good Billionaire’
There is no way to be a billionaire in America without taking advantage of a system predicated on cruelty, a system whose tax code and labor laws and regulatory apparatus prioritize your needs above most peoples. Central bankers play down soaring cost of living
Officials insist inflation won't last, and on Wednesday the U.S. Federal Reserve Board's Jerome Powell hinted he'll join the Bank of Canada's Tiff Macklem in cutting back on stimulus. But unless wages catch up, rising prices continue to make most of us po The mice that roared: how eight tiny countries took on foreign fishing fleets
Eight Pacific countries created a revolutionary system that brings in $500m a year and prevents the overfishing that blights other regions The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax — ProPublica
ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing. 'An ugly stain for years to come': Laurentian University students, staff reeling from cuts
Monday was one of the worst days on record for the Laurentian University community, with the news some 100 professors lost their jobs and dozens of programs were axed leaving some reeling. "I've got friends and colleagues whose lives are destroyed," said Biden to announce $2-trillion infrastructure plan that would transform U.S. economy
U.S. President Joe Biden is to travel to Pittsburgh today to unveil his $2-trillion US plan to re-engineer America's infrastructure. Corporate head office job losses a 'wake-up call' for Calgary
Between 2014 and 2019, Calgary saw the departure of nine head offices and 3,600 head office jobs, according to Statistics Canada. The number of head office jobs in Alberta fell by almost 5,500 positions while it rose by almost 2,800 positions in the rest Canada adds 259,000 jobs in February, biggest increase since September
Canada added 259,000 jobs in February, recovering most of the jobs it lost in the previous two months.Employment rose among those in Stockton’s universal basic income experiment: Study
After getting $500 per month for two years without rules on how to spend it, 125 people in California paid off debt, got full-time jobs and reported lower rates of anxiety and depression, according to a study released Wednesday. The program in the Norther
After getting $500 per month for two years without rules on how to spend it, 125 people in California paid off debt, got full-time jobs and reported lower rates of anxiety and depression, according to a study released Wednesday. The program in the Norther Canadian economy contracted 5.4 per cent in 2020, worst year on record | CTV News
The Canadian economy posted its worst showing on record in 2020 as the COVID-19 pandemic swept across the country, shutting down businesses and putting millions out of work. New study: A zero-emissions US is now pretty cheap
In many areas of the United States, installing a wind or solar farm is now cheaper than simply buying fuel for an existing fossil fuel-based generator. And that's dramatically changing the electricity market in the US and requiring a lot of people to updaFinland has slashed homelessness; the rest of Europe is failing
Giving the homeless shelter is cheaper than dealing with the consequences of rough sleeping
Giving the homeless shelter is cheaper than dealing with the consequences of rough sleeping Global sales of electric cars accelerate fast in 2020 despite pandemic
Sales of electric cars rose by 43% while overall car sales slumped by a fifth last year Nearly half of adult Canadians struggle with literacy — and that's bad for the economy
One in six adult Canadians falls short of passing the most basic set of literacy tests, making them functionally illiterate, and this could mean problems as a post-COVID-19 economic recovery ramps up. Why stock markets are up 44% amid the worst economic contraction in history
Millions of people have either lost their jobs or the hours they work. Heading into winter, COVID-19 cases are sharply rising and yet the stock market is posting some records. What gives? Why some of Canada's richest millennials want to pay more taxes
Many people wish for lower tax bills and more money in their bank accounts. But a group of young, rich Canadians want the federal government to tax them more.Back to Canada News
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