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Canada looks set to dodge a recession despite the ongoing downward pressure from higher interest rates, Deloitte Canada said in its economic outlook report. A number of worrisome trends are still weighing on the economy, Deloitte said, including sticky inflation, rising business insolvencies and increasing mortgage delinquencies. “Against this backdrop, we remain cautious about …
Read More »COVID came with career setbacks for many 2020 postsecondary grads: StatCan – National
The onset of the COVID-19 pandemic came with career setbacks for many Canadians who graduated from postsecondary schools that year, new data shows. Statistics Canada on Friday released its study, “The impacts of the COVID-19 pandemic on the postsecondary graduating class of 2020,” which paints a picture of what was …
Read More »Scotiabank beats profit estimates on interest income strength, BMO misses – National
Descrease article font size Increase article font size Canada’s Bank of Nova Scotia on Tuesday beat estimates for its first-quarter profit, helped by robust growth in interest income, while Bank of Montreal (BMO) fell short of expectations due to bigger loan-loss provisions. A string of rate hikes by the Bank of …
Read More »How many jobs did Canada add in January? StatCan to share data – National
By Staff The Canadian Press Posted February 9, 2024 7:38 am 1 min read Descrease article font size Increase article font size Statistics Canada is set to release January job numbers Friday morning. RBC says it expects Canadian employers added 10,000 jobs last month, which won’t be enough to keep …
Read More »AI skills a priority as Canadian companies develop 2024 hiring plans – National
When Canadian companies turn to hiring this year, candidates will need to show skill in a key area: artificial intelligence. Members of the country’s tech community say finding staff who can develop AI-based products or use them to drive efficiencies is a priority as the global race to take advantage …
Read More »Ottawa expects Canada to avoid recession, but interest rates could play spoiler – National
The Canadian economy is now expected to avoid a recession, according to the Liberal government’s fall economic statement, but the path for interest rates and inflation could put that forecast at risk. Ottawa’s fall fiscal update released Tuesday included revisions to the government’s economic forecasts, sourced from surveys of private …
Read More »Canada’s economy grew 0.3% in May, but early signs of declines in June – National
Canada’s economy kept growing in May, but early signs of a long-awaited slowdown started to appear in June, according to Statistics Canada. The federal agency said Friday that real gross domestic product was up 0.3 per cent in May, with growth in services-producing sectors offsetting declines in goods. A return …
Read More »Statistics Canada set to release GDP report for April – National
A pair of key economic reports are due out Friday morning. Statistics Canada will release its report on how the economy fared in April when it releases its reading of gross domestic product for the month. The agency’s early estimate for April that it released last month had pointed to …
Read More »Bank of Canada set to announce June rate decision. Will it hike or hold? – National
By Staff The Canadian Press Posted June 7, 2023 6:29 am Descrease article font size Increase article font size The Bank of Canada is set to announce its interest rate decision Wednesday as speculation about another rate hike heats up. Recent economic data suggests the Canadian economy is running hotter …
Read More »Canadian firms risk falling behind U.S. as AI adoption lags, report warns – National
A new survey shows that Canadian companies are not adopting artificial intelligence (AI) technology as quickly as U.S. counterparts — and it may be putting them at a competitive disadvantage. The survey from KPMG polled 250 companies with revenue of $500 million or higher, 90 of which were in Canada …
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