All Economy stories

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. 

Job ads show a wage growth slowdown

Wage growth in Canada has been flying high this year, to the point where it has actually outpaced inflation. But new data from Indeed suggests it could be coming down to Earth. 

Driving the news: Advertised pay rates for new openings have been steadily decelerating, per Indeed, settling in at a 4% year-over-year increase in May, down from a peak of 5.3% last August. Deceleration was mainly driven by slowing wage growth for higher-paying jobs. 

Regulator calls for more competition in Canada’s grocery sector

The most-anticipated release of the summer just dropped: The Competition Bureau’s report on Canadian grocers.

Catch-up: The Bureau launched a probe into Canadian grocers last October to determine whether a lack of market competition had contributed to elevated food prices for Canadians. 

Inflation slows, but still has a way to go

A new round of inflation data shows that rate hikes are slowing down the economy, but it’s too soon to start celebrating just yet. 

Driving the news: Canada’s annual inflation rate slowed a full percentage point to 3.4% in May, setting the stage for the Bank of Canada’s next interest rate decision in July. 

The IMF has some advice for Canada