Weekly Digest – 13 November 2024
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Labour force participation rate hits 27-year low
Most employed Canadians are happy in their roles, Statistics Canada’s October employment survey showed, even as a growing number give up on the job hunt amid a softening labour market.
Talks break off in B.C. port dispute as bid to end multi-day lockout fails
Contract negotiations in a labour dispute that has paralyzed container cargo shipping at British Columbia’s ports since Monday have been called off. In an update posted to their website on Saturday night, the B.C. Maritime Employers Association (BCMEA) says they and the International Longshore and Warehouse Union (ILWU) Local 514 met separately with the Federal Mediation and Conciliation Service (FMCS) and “there was no progress made.”
Inflation is down, wages are up. Why are Canadians still frustrated with the economy?
The federal finance minister has been taking every opportunity to remind frustrated Canadians that after a bumpy pandemic recovery, the nation’s economy is actually doing a lot better.
Canadian economy flat in August, likely missed central bank’s 3rd quarter growth forecast
The Canadian economy was flat in August as high interest rates continued to weigh on consumers and businesses, while an early forecast suggests it grew at an annualized rate of one per cent in the third quarter.
Three in four small businesses are worried about the lack of plan to achieve a balanced federal budget
Nearly three in four (74%) small businesses are worried about the lack of a plan to return to a balanced federal budget as Canada continues running deficits and racking up federal debt, says the Canadian Federation of Independent Business (CFIB).
Canadian Chamber statement on oil and gas cap announcement
Today’s announcement of the draft emissions cap regulations threaten to make Canada’s climate policies more fragmented and less competitive, leading to a costly and disjointed approach to emissions reduction. Such restrictions on oil and gas production could hinder energy trade, jeopardizing our shared economic and security interests.
Inflation, input costs, debts: A snapshot of small business conditions
Small businesses, where a large proportion of Canadians work, have long contributed an outsized amount to the country’s economy. Challenges continue to be a part of operating a business in the current economic environment. The Canadian Survey on Business Conditions (CSBC) recently surveyed businesses of all sizes on how they are doing.
Join the Can-Do campaign
Business Council launches Can-Do campaign, pushing Canadian policy-makers to go from worst to first in economic growth. At a time when GDP per capita has shrunk by a total of four per cent since 2022 — which is unprecedented outside a recession — the Business Council of Canada (BCC) is calling on Canadians to urge their elected officials to take control of the country’s economic destiny.
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