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EI claims rose 9.2% in the year to November with Alberta hardest hit
EI claims rose 9.2% in the year to November with Alberta hardest hit More than 31,000 new jobless in Alberta as EI rolls climb to 544,200 There have been several rounds of layoffs in the oilpatch since 2014, with trades, transport, technical support, finance and management affected. (Todd Korol/Reuters) The number of Canadians receiving employment […]
Foreign Investors Bail out of Canada’s Money Machine
Foreign Investors Bail out of Canada’s Money Machine First net outflow from Canadian securities since 2008. On first sight, it wasn’t that bad. Statistics Canada reported today that in September, foreign (non-resident) investors purchased C$3.3 billion of Canadian securities – adding C$3.2 billion in equities and C$0.9 billion in bonds to their holdings while getting rid of C$0.8 […]
Canadians piling up more garbage than ever before as disposables rule
Canadians piling up more garbage than ever before as disposables rule There’s a high price to pay for our love affair with products of convenience We like to think we’re behaving like model citizens, hauling our recycling to the curb and composting our banana peels. But the sad truth is, Canadians are piling up more household garbage […]
Canada’s Retail Prices Jump the Most in “Over a Decade”
Canada’s Retail Prices Jump the Most in “Over a Decade” When Statistics Canada released its July retail sales report today, it dished out a few unwelcome surprises – and a bombshell. Among the surprises, based on what economists – though perhaps not average Canadians – had expected: Growth in retail sales was a measly 0.5% in July; […]
What’s Coming Unglued Now in Canada?
What’s Coming Unglued Now in Canada? Canada lumbered through the first half of 2015 in a “technical recession,” Statistics Canada confirmed this week, as GDP shrank in both quarters. Among the culprits: the swooning energy sector and an investment slump. Now everybody is lining up behind the hope that a sudden acceleration will put the […]
Three Worrying Economic Trends Beyond Canada’s GDP Drop
Three Worrying Economic Trends Beyond Canada’s GDP Drop New data confirms what 79 per cent of Canadians already felt. The much anticipated quarterly GDP numbers are out, and StatsCan confirmed what 79 per cent of Canadians already felt to be the case — Canada’s economy is in decline. A drop in economic activity of 0.1 per cent in the second […]
Friday job numbers may tell tales GDP missed: Don Pittis
Friday job numbers may tell tales GDP missed: Don Pittis Stats could show if slump is over and whether there is a rebound outside the oil industry Opponents in the battle over whether the Canadian economy is collapsing or clawing its way back to recovery will get more ammunition on Friday. That’s when we learn the latest figures on job […]
It’s a Recession: Now, Who’s Hurting and Where?
It’s a Recession: Now, Who’s Hurting and Where? We asked economists from coast to coast to see how Canada is weathering the storm. Canada earned official recession status yesterday, a fact that pundits and politicians on the campaign trail wasted no time trying to spin. According to the latest Statistics Canada data, the country’s gross […]
Recession confirmed as Canada’s GDP shrank in 2nd quarter
Recession confirmed as Canada’s GDP shrank in 2nd quarter Canada’s economy expanded in June but declined by 0.1 per cent for the second quarter as a whole, meeting the bar of what is legally defined as a recession. The economy expanded by 0.5 per cent in June, Statistics Canada said. But that slight monthly uptick wasn’t enough […]
GDP figures from Statistics Canada expected to show second-quarter contraction
GDP figures from Statistics Canada expected to show second-quarter contraction Lower loonie expected to boost economy in third quarter Economists say data out this week is likely to show that Canada slipped into a technical recession in the second quarter, but the contraction should be short-lived. “A number of positive elements are coming through,” said TD […]
Alberta has lost 35,000 oilpatch jobs, petroleum producers say
Alberta has lost 35,000 oilpatch jobs, petroleum producers say With cuts more likely to come in the fall. Less than a year ago, Alberta was still complaining of a labour shortage. Schools couldn’t find bus drivers, job vacancy rates were the highest in the country. It’s no secret that the situation has changed. The Canadian Association of […]
Recession Risk Mounting For Canada
Recession Risk Mounting For Canada The latest economic data from Canada shows that it is inching towards recession, after its economy posted its fifth straight month of contraction. Statistics Canada revealed on July 31 that the Canadian economy shrank by 0.2 percent on an annualized basis in May, perhaps pushing the country over the edge into recessionary […]
Canadian dollar dips below 77 cents with more pain to come
Canadian dollar dips below 77 cents with more pain to come TD Bank predicts 73-cent loonie as effects of low oil linger The Canadian dollar is nearing its low for the year Friday, after news that the economy contracted for a fifth straight month in May. The loonie closed at 76.45 US cents, down half a cent from […]
Is Canada Next? Recession Is “Quite Contained”
Is Canada Next? Recession Is “Quite Contained” “In the current context, if you look at the growth numbers, the recession is effectively in the goods sector, it’s in the oil industry, it’s weak growth in manufacturing, weak growth in construction,” explained Kevin Page, Canada’s former parliamentary budget officer, a watchdog role charged with analyzing the […]
