All Economy stories

Pre-tip your driver or risk slow delivery, DoorDash users warned

Want your late-night Big Mac order to arrive at least a little bit warm? Better tip your delivery driver ahead of time. 

Driving the news: DoorDash is testing a change to its service that will ask customers to add a tip at checkout and warn them that failing to do so could mean their delivery will take longer.

Winter may be here for the hot job market

When new economic data from Canada, the US, and the EU all tell a similar story… we’d call that a trend worth noting.

What happened: A flurry of new jobs data is showing a sharp slowdown in hiring across Western economies.

What’s going on with the loonie?

Pros of Canadian currency compared to US currency: Comes in several fun colours, and features the majestic loon. 

Cons of Canadian currency compared to US currency: It’s less valuable, and dropping lower. 

Driving the news: The Canadian dollar was trading at around six-month lows at market close yesterday and runs the risk of falling as low as US$0.71 per Monex Canada analysis. 

Low survey response rates are tainting economic data

Canadians are turning away from economic surveys, a development that’s hurting far more than just the feelings of the Stats Canada surveyors knocking on their doors. 

Driving the news: Stats Canada is struggling to get businesses and households to respond to its Labour Force Survey, a trend that could distort key economic data, per The Globe and Mail. The most recent response rate has fallen from 87% in 2019 to 70% in September.

B.C. brings on pay transparency

Do you hear that? It’s the sound of thousands of hiring managers clacking at their keyboards, updating Indeed postings. 

What happened: All B.C. job postings must now include salary ranges, as mandated by the province’s recently passed Pay Transparency Act. Employers also can’t ask how much you made at your previous job, or punish you for sharing your income with your colleagues.

A technical recession is upon us

Forget ghouls, ghosts, and teenage pranksters; the scariest thing that haunted Halloween this year was the spectre of a recession. 

What happened: New GDP numbers show that Canada’s economy stagnated in August instead of growing 0.1% as expected. If GDP stays flat in September, as is now projected, the country will officially enter… *screams* something called a ‘technical’ recession. 

It’s east vs. west for in-demand workers

NHL rivalries are no longer the only thing stoking competition between provinces. They’re now also fighting for Canada’s scarce supply of workers.

Driving the news: Provinces are piloting new strategies to lure skilled workers in high-demand sectors like healthcare, green energy, and construction.

Jim Stanford on the wave of autoworker strikes

On this week’s episode of Free Lunch by The Peak, we sat down with Jim Stanford to talk about the wave of autoworker strikes in the US and Canada and what it means for the sector. 

Grocers agree to freeze prices

As some Canadians prepping for Thanksgiving come face-to-face with $120 turkeys, the government is asking big grocers to do something, anything, to lower food prices. 

What happened: The feds announced that Canada’s five biggest grocers — Loblaw, Metro, Empire, Walmart, and Costco — committed to several actions that will lower prices, including price freezes for “key food products” (exact foodstuffs were unspecified) and price matching. 

Canada courts digital nomads

Picture the life of a digital nomad: You’re probably thinking of oceanfront workplaces, rainforest yoga, and drinking out of coconuts. But what about just heading to Toronto?

Driving the news: Per Bloomberg, the list of picturesque destinations cutting the red tape and offering remote work visa schemes is growing, including places like Barbados, Portugal, and Germany. Some are even extending visas in hopes of boosting business and innovation.