Commentary Economic recovery from the pandemic is going to be a convoluted path with years of ups and downs. While inflation is making it difficult for an increasing number of Canadians to pay the bills, we are also ironically in the midst of a labour shortage. As employers increase employee compensation to draw new workers,…
‘Need All Hands on Deck’: A Look at Income Supports, Teen Workers Amid Aging Workforce, High Job Vacancies
High job vacancies, low unemployment rates, and an aging Canadian workforce are major challenges facing the economy, say two academics, who also point to COVID income supports and declining teen labour participation as issues demanding significant responses from employers and policy-makers alike. Late in April Statistics Canada announced that the country has more people aged…
Australians Face Chaos in Sydney Airport as Easter Holidays Kick Off
Sydney International Airport has been in chaos as the reduced staff numbers are unable to handle the number of Aussies hoping to get away during the Easter holidays, with the queues for check-in and security ending outside. For many Aussies, it would be the first time they have flown since the borders opened after almost…
Most Firms Expect Inflation to Stay Above 3% Over the Next Two Years: Bank of Canada Survey
More than two-thirds of Canadian firms are expecting inflation to stay above 3 percent over the next two years, says a new survey from the Bank of Canada. Released on April 4, the online survey conducted between March 4 and March 10 asked 152 firms about their expectations for the country’s inflation rate in the coming years….
Labour Shortages, Higher Wages for New Hires Could Fuel Inflation, Economist Warns
Canada’s labour market surge and drop in unemployment over the past few months have driven up wages, which in turn could bring negative economic impacts like higher inflation, lower productivity, and increased cost of labour per unit of output, a prominent economist warns. In November 2021, as Canada’s labour market continued its return to something…
Drilling Activity in Canada to Increase in 2022, Says Petroleum Association
Oil and natural gas drilling in Canada is expected to increase by 16 percent in 2022, according to forecasting from the Petroleum Services Association of Canada (PSAC). “For 2022, we expect drilling activity to be higher than 2019. But, although we’ll be back to pre-COVID levels, we’re not going to be near where we were…
Canada’s Labour Shortage Worsened by Feds’ Pandemic Relief Programs, Say Analysts
November 10, 2021
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News Analysis Canada’s labour market is facing a massive worker shortage, with some of the causes said to be long-term in nature, but businesses and analysts also say government pandemic support programs have exacerbated the problem. “As was the case prior to the pandemic, the future supply of workers, and the possibility of shortages impeding…
Bank of Canada’s Inflation-Fighting Strategy May Not Be Enough
Commentary The Bank of Canada recently announced it would maintain the overnight rate it charges commercial banks to borrow from the central bank at 0.5 percent, and maintain the rate it offers those banks to keep reserves at the central bank at 0.25 percent. The bank also said it was ending its program of quantitative…
Canadian Firms Face Labour Shortages as Expectations of Inflation Rise: Bank of Canada Survey
Even with the easing of COVID-19 restrictions, Canadian businesses are recovering at a slow pace due to labour shortages and supply chain disruptions, which is leading to higher expectations of inflation, a new Bank of Canada survey says. The bank’s business outlook survey for the third quarter of 2021, published on Oct. 18, shows close…
Hiring Difficulties Hamper Growth for Canadian Businesses: Study
Employers are having a hard time hiring workers, are pushing them to work longer hours, and are rejecting new orders, which is hampering growth for the majority of Canadian businesses, a new study says. Published by the Business Development Bank of Canada (BDC), the study (pdf) found 55 percent of small and medium-sized businesses in…
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