All Economy stories

Little relief for big global debt

If you ask US Treasury Secretary Janet Yellen, the debt problems facing low-income countries are a problem for the global economy. 

What happened: The world’s wealthiest countries are reportedly dragging their feet on restructuring the mounting debt load they’re owed by low-income countries, per Reuters.  

Canada and Australia are two peas in a pod

Don your Kangol hat, crack open a Foster’s, and prepare to say “g’day mate,” because Australian leaders are coming to Canada.

Driving the news: Political and business big shots from Down Under will be Up North on Monday to discuss ways to deepen ties with Canada and compare economic policy. It’s all part of the Australia-Canada Economic Leadership Forum happening in Toronto. 

BC ports are back in business

Another strike has come and gone in what’s becoming a #LabourActionSummer. 

What happened: The union representing BC port workers reached a tentative four-year deal with their employer to re-open Canada’s westernmost ports, ending a 13-day-long strike. 

What’s next after the latest rate hike?

Like us at an open bar, T-Mack and friends have said, “Sure, I’ll have another one.”

What happened: Tiff Macklen and the Bank of Canada (BoC) did what most economists expected and raised the base interest rate by 0.25 of a percentage point to 5%—the highest rate seen (by anyone over 21) since 2001. 

To hike or not to hike?

Another rate decision brings T-Mack back into the hot seat. 

Driving the news: Today’s Bank of Canada (BoC) rate decision is likely to be tighter than Survivor’s Final Tribal Council, but 16 out of 24 forecasts are expecting a 0.25 percentage point hike—including the nation’s largest bank economics groups. So, buckle up, everyone. 

Mikal Skuterud on Canada’s immigration system

We sat down with Mikal Skuterud on Free Lunch By The Peak to dive into how the Canadian immigration system works, and his argument on why and how it should change for the better.

Canada’s lifeguard industry needs saving

Somebody should reboot Baywatch, because we need something, anything to motivate people to become lifeguards.

Driving the news: Canada is in the midst of a years-long lifeguard shortage that is forcing provinces and cities to take desperate measures to create more lifesavers in red Speedos. 

The wealth gap widens

The gap between the richest and poorest Canadians is growing, but the reason why may surprise you.

Driving the news: The wealth gap between the top 20% of earners and the bottom 40% widened by 1.1 percentage points in the first quarter of the year, the fastest pace on record, per new Stats Canada data.  

BC port strike enters fourth day

A union representing BC port workers has extended their long weekend until further notice. 

What happened: A strike affecting BC ports has entered its fourth day and could potentially impact the flow of goods from the province’s coast—worth about $800 million every day. 

We're finally making it easier for people to work in their field

Canada has become pretty good at growing by attracting newcomers from abroad: The population is increasing by nearly 3% per year and recently crossed the 40 million threshold.

Yes, but: When it comes to making it easy for people to work in their field, it’s been a different story, with many professionals trained overseas unable to get credentials to work in Canada. Thankfully, that’s starting to change.