Rupa Subramanya: The sacred cows contributing to Canada's soaring inflation
Just recently, the Canadian Dairy Commission recommended an increase in the farm gate price of milk of a record 8.4 per cent, beating the previous record increase of 4.52 per cent in 2017. Once approved by provinces, these higher prices will kick in next February increasing yet further what we pay for milk at the grocery store to say nothing of the pass through of higher costs into all of the other products that contain milk. As the debate over As the debate over rising inflation heats up, Conservative Leader Erin O’Toole joined the fray by tweeting a photograph of a traditional hearty Canadian breakfast that showed the year-on-year percentage increases of all the items on the plate including eggs (7.4 per cent), butter (5.
OTTAWA — Canada's labour market shook off more of the shock from COVID-19 by adding 153,700 jobs in November, pushing the unemployment rate to a pandemic-era low and sending the share of the core working population with a job to an all-time high.
The growth dropped the unemployment rate to six per cent, leaving the headline rate within 0.3 percentage points of the 5.7 per cent recorded in February 2020 just before the pandemic struck.
Statistics Canada said the unemployment rate would have been 7.8 per cent in November had it included Canadians who wanted to work but didn't search for a job, down from 8.7 per cent in October.
Canada disappointed with U.S. final softwood lumber duty rate, says trade minister
OTTAWA — International Trade Minister Mary Ng and B.C.'s lumber producers say they are disappointed that the U.S. Department of Commerce has decided to increase duties on Canada's softwood lumber producers. The U.S. government said Wednesday that its final combined anti-dumping and countervailing duty rate for most Canadian producers will be 17.9 per cent. That's slightly below the 18.32 per cent preliminary rate issued in May but double the initial 8.99 per cent rate. Ng called on the U.S. to stop imposing "these unwarranted duties" that harm Canadian communities, business and workers while also raising costs of housing and renovations for U.S. consumers.
Gains were seen across a range of industries and provinces, but didn't take into effect the situation in British Columbia because the jobs survey took place before severe flooding struck.
Driving a drop in unemployment was a plunge of 62,000 in the number of long-term unemployed who have been out of job for six months or more, marking the first monthly drop since August. Statistics Canada said the decline was especially sharp for those out of work for at least 12 months.
Total hours worked also returned to pre-pandemic levels in November.
"So many positive trends tell us that finally, these workers are seeing the light at the end of the COVID tunnel," said Tu Nguyen, an economist with accounting firm RSM Canada.
Gains followed the end of a federal unemployment benefit that some economists suggested may have jump-started job searches. But Kaylie Tiessen, an economist with the Unifor union, said the Canada Recovery Benefit, alongside business subsidies, could be credited for saving jobs by helping impacted households keep their purchasing power.
Nova Scotia mass killing helped drive high national homicide rate in 2020: StatCan
HALIFAX — The mass killing in Nova Scotia and the COVID-19 pandemic helped push the number of homicides nationally in 2020 to its highest level in nearly 30 years, Statistics Canada reported Thursday. The new survey says 743 homicides were reported by Canadian police in 2020 — a figure that was the most since 1991 and includes the 22 victims of a gunman's rampage that began in Portapique, N.S., in April of last year. "This attack contributed toThe new survey says 743 homicides were reported by Canadian police in 2020 — a figure that was the most since 1991 and includes the 22 victims of a gunman's rampage that began in Portapique, N.S., in April of last year.
"Those things together prevented many businesses from collapsing, which meant that people had jobs to go back to as things were opening again," Tiessen said. "Government intervention in times of crisis prevents further economic collapse and also speeds economic recovery."
The share of core-age women ( with a job was the highest since 1976, which could have been helped by more mothers working with schools and daycares open, or finding an affordable childcare space, said Jennifer Robson, associate professor of political management at Carleton University.
Also helping women was growth in jobs needing post-secondary education, which women are more likely to have than men.
Video: Canada’s annual inflation rate soars 4.7 per cent in October (Global News)
Economist Armine Yalnizyan with the Atkinson Foundation said on Twitter that the country hasn't hit a full "she-covery," noting more women than men dropped out of the labour market during the pandemic and aren't necessarily captured in the Statistics Canada data.
The West Block – Episode 5, Season 11
Watch the full episode of The West Block with host Mercedes Stephenson – November 28, 2021.Episode 5, Season 11
With unemployment declining and job vacancies ticking upwards, the statistics office said signs point to new or worsening labour shortages or skill mismatches.
Leah Nord, senior director of workforce strategies for the Canadian Chamber of Commerce, said shortages won't abate without a meaningful way to connect unemployed workers with available jobs, or enough workers to fill available jobs.
Tightness could further increase wages that on average have increased by 5.2 per cent compared with November 2019, which is close to the inflation rate over that time. Statistics Canada said wages rose faster for new hires than those with jobs during the two-year stretch.
Tanya Gullison, chief revenue officer of consulting firm LHH, said the wage increases will trickle into next year as companies look to hire and retain staff.
Not to be forgotten in the outlook is cloudiness caused by COVID-19.
The emergence of new variants or jumps in case counts could upend any upswing in employment, particularly in high-contact service sectors, said Brendon Bernard, senior economist with job-posting site Indeed.
"Optimism on the public-health front is good for investment, it's good for confidence, and it's a key ingredient that we need to continue to progress," he said.
"Otherwise, these different areas of the economy are sort of left wondering what's next."
Friday's jobs report landed days before the Bank of Canada's next scheduled announcement about its trendsetting policy rate. The central bank is looking for a labour market recovery any rate hike.
Employment last month was about 186,000 above February 2020 levels, and in the estimated range of 110,000 to 270,000 jobs the country would have without the pandemic's effects, once accounting for population growth.
TD senior economist Sri Thanabalasingam said the jobs report, high inflation and a hot housing market may mean the central bank raises rates as early as January.
This report by The Canadian Press was first published Dec. 3, 2021.
Jordan Press, The Canadian Press
Canadians are about to face more sticker shock at the grocery store .
Food could in Canada could climb up to seven per cent in 2022, the biggest increase in 12 years. Food prices will climb by between five and seven per cent in 2022, adding nearly $1,000 a year to the grocery bill of the average family of four, according to estimates from the latest edition of Canada's Food Price Report released on Thursday.