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The Canadian economy lost more than 40,000 jobs in July, sinking the share of people employed to an eight-month low, Statistics Canada reported on Friday, as the labour market gave back substantial gains seen in June. The unemployment rate, however, remained steady but at a multi-year-high level of 6.9 per cent, the …
Read More »The U.S. economy is thriving in spite of tariffs. Will it last?
By just about every indicator, the U.S. economy is holding up remarkably well. When Donald Trump launched his global trade war, economists and markets said his tariff policy would slow the economy, drive up prices and dramatically reduce global trade. And yet, stocks are at all-time highs, the country’s employment …
Read More »Nova Scotia’s ambitious ‘Wind West’ offshore energy plan wins support with conditions
Two leading environmental groups are giving a thumbs up to Nova Scotia’s ambitious plan to dramatically expand its fledgling offshore wind energy industry. But both groups were quick to add caveats. On Monday, Premier Tim Houston said the province’s plan to license enough offshore wind farms to produce five megawatts …
Read More »Canadian economy will be among those hit hardest by global slowdown, says OECD
Global economic growth is slowing more than was expected only a few months ago, as the fallout from the Trump administration’s trade war continues, the OECD said on Tuesday, and Canada is among the countries where the downturn is most concentrated. The Organization for Economic Co-operation and Development (OECD) revised down its …
Read More »Pipeline policy divides B.C., Alberta as premiers meet with Carney in Saskatoon
British Columbia is pushing back against Alberta Premier Danielle Smith’s proposal for a bitumen pipeline to B.C.’s northern coast. It was among the topics of Prime Minister Mark Carney’s meeting Monday with premiers in Saskatoon, where the assembled leaders are discussing a draft list of “national interest” projects to be …
Read More »Saudi Arabia is opening up its economy and its society. Why has Canada been so slow to capitalize on that?
There are many ways to measure just how much Saudi Arabia has changed in recent years. Bumping into Montreal businessman Sruli Richler at an ancient historic site is one of them. Richler is an observant Jew, who has a beard and wears a yarmulke under his ball cap. He stopped for …
Read More »G7 expected to boost economy and fill hotels in Calgary and mountain towns
The Calgary region is preparing for a surge in visitors ahead of next month’s G7 leaders’ summit in Kananaskis, Alta., and hotel rooms are already nearly impossible to find. The summit, which is scheduled to run from June 15 to 17, is expected to draw thousands of delegates, journalists and security personnel to …
Read More »Lesotho puzzled by whopping U.S. tariff rate, which could decimate its economy
Lesotho scrambled to put together a delegation on Friday to head to Washington to engage with the United States on tariffs that risk wiping out nearly half of its exports, its trade minister said, in what could be a death blow to its economy. The 50 per cent reciprocal trade …
Read More »Canada’s economy better than expected in last quarter of 2024, new numbers show
The Canadian economy outpaced expectations in the final quarter of the year, Statistics Canada said Friday, thanks largely to a surge in household spending. Real gross domestic product rose 2.6 per cent on an annualized basis in the fourth quarter, the agency said. That’s well above calls from the consensus …
Read More »Unemployment rate ticked down to 6.6% in January as economy sees solid month of job gains
Canada’s unemployment rate unexpectedly fell and the economy posted another solid month of job gains, Statistics Canada said on Friday, signalling that joblessness has started to ease. In January, the unemployment rate was 6.6 per cent, a notch below the 6.7 per cent seen a month earlier. The economy added 76,000 jobs — still …
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