economy

A Wealthsimple Trade app icon is shown on a smartphone on Tuesday, Dec. 15, 2020. Some stock trading platforms say usership has spiked in 2020, as a whipsawing stock market and more time at home has Canadians day trading. THE CANADIAN PRESS/Jesse Johnston

Overheated stock market at risk of bubble in a disconnect from economy, experts say

Canada’s unemployment rate climbed to 9.6 per cent in January as 212,800 jobs were erased that month

 

More than one-third of businesses in Revelstoke have lost revenues beyond 50 per cent due to COVID-19. (Liam Harrap/Revelstoke Review)

‘It’s pretty bad’: One-third of Revelstoke businesses report losses beyond 50% from COVID-19

A look at the data from recent survey of 134 businesses by the Revelstoke Review

 

British Columbia’s provincial flag flies on a flag pole in Ottawa, Friday July 3, 2020. British Columbia’s financial outlook is being hammered by the COVID-19 pandemic, but the provincial government says a partial recovery is on the horizon next year.THE CANADIAN PRESS/Adrian Wyld

Targeted cash, social supports would be more effective than basic income: UBC panel

The panel made 65 recommendations for various policy changes

 

Bank of Canada Governor Tiff Macklem takes part in a news conference at the Bank of Canada in Ottawa on December 15, 2020. Canada’s central bank will update its economic forecast for the country that will offer a window when it expects a recovery from the COVID-19 pandemic to take hold. THE CANADIAN PRESS/Sean Kilpatrick

Bank of Canada keeps key interest rate target on hold at 0.25%

The central bank is citing the economic conditions and ongoing uncertainty

Bank of Canada Governor Tiff Macklem takes part in a news conference at the Bank of Canada in Ottawa on December 15, 2020. Canada’s central bank will update its economic forecast for the country that will offer a window when it expects a recovery from the COVID-19 pandemic to take hold. THE CANADIAN PRESS/Sean Kilpatrick
The Bank of Canada building is seen in Ottawa, Wednesday, April 15, 2020. THE CANADIAN PRESS/Adrian Wyld

Pandemic job concerns could pose problem in long-term, Bank of Canada says

Lockdowns in the spring of 2020 led to a historic drop in employment with about three million jobs lost

The Bank of Canada building is seen in Ottawa, Wednesday, April 15, 2020. THE CANADIAN PRESS/Adrian Wyld
Royal Bank president David McKay speaks at the banks annual meeting in Toronto on April 6, 2017. McKay says it’ll take a few million people in the country getting vaccinating to get the country on track for an economic rebound. THE CANADIAN PRESS/Frank Gunn

At least 4 million Canadians need vaccines for country to look at reopening economy: RBC

McKay says government relief will have to continue and become focused on areas of the economy

Royal Bank president David McKay speaks at the banks annual meeting in Toronto on April 6, 2017. McKay says it’ll take a few million people in the country getting vaccinating to get the country on track for an economic rebound. THE CANADIAN PRESS/Frank Gunn
Office towers are shown from Bay Street in Toronto’s financial district, on Wednesday, June 16, 2010. A new report by the Canadian Centre for Policy Alternatives says the average amount paid to the country’s top chief executives in 2019 was down from 2018, but was still more than 200 times the average worker compensation.THE CANADIAN PRESS/Adrien Veczan

Top CEO pay in 2019 fell, but still more than 200 times average workers: CCPA report

The average individual income in Canada for 2019 was $53,482, up from $52,061 in 2018

Office towers are shown from Bay Street in Toronto’s financial district, on Wednesday, June 16, 2010. A new report by the Canadian Centre for Policy Alternatives says the average amount paid to the country’s top chief executives in 2019 was down from 2018, but was still more than 200 times the average worker compensation.THE CANADIAN PRESS/Adrien Veczan
Nineteen salmon farms in the Discovery Islands have been given 18 months to vacate, causing shock and uncertainty in the industry. (Photo courtesy Grieg Seafood BC)

Canada ‘stole Christmas’ says Vancouver Island’s aquaculture industry

Federal decision to phase out 19 Discovery Island fish farms has sent shivers across northern Vancouver Island

Nineteen salmon farms in the Discovery Islands have been given 18 months to vacate, causing shock and uncertainty in the industry. (Photo courtesy Grieg Seafood BC)
Shipping containers are seen at the Fairview Cove Container Terminal in Halifax on Friday, Aug. 25, 2017. THE CANADIAN PRESS/Andrew Vaughan

Statistics Canada reports economy grew 0.4 per cent in October

The increase followed growth of 0.8 per cent in September

Shipping containers are seen at the Fairview Cove Container Terminal in Halifax on Friday, Aug. 25, 2017. THE CANADIAN PRESS/Andrew Vaughan
Bank of Canada Governor Tiff Macklem and Senior Deputy Governor of the Bank of Canada Carolyn Wilkins are seen during a news conference in Ottawa, Wednesday, July 15, 2020. The Bank of Canada will deliver a rate announcement today with observers watching if news about vaccines gives a shot in the arm to the bank’s outlook on the economy. THE CANADIAN PRESS/Adrian Wyld

Bank of Canada keeps key interest rate target on hold at 0.25%

The announcement marks the interest last rate decision the central bank will make this year

Bank of Canada Governor Tiff Macklem and Senior Deputy Governor of the Bank of Canada Carolyn Wilkins are seen during a news conference in Ottawa, Wednesday, July 15, 2020. The Bank of Canada will deliver a rate announcement today with observers watching if news about vaccines gives a shot in the arm to the bank’s outlook on the economy. THE CANADIAN PRESS/Adrian Wyld
A woman in a face mask exits Le Chateau at Guildford Town Centre in Surrey, B.C., Friday, Dec. 4, 2020. The clothing store is going out of business amid the global COVID-19 pandemic. THE CANADIAN PRESS/Marissa Tiel

Pandemic shutdowns the last straw for some Canadian retailers, push others to brink

Some retail chains went into 2020 already saddled with massive debt and too many stores

A woman in a face mask exits Le Chateau at Guildford Town Centre in Surrey, B.C., Friday, Dec. 4, 2020. The clothing store is going out of business amid the global COVID-19 pandemic. THE CANADIAN PRESS/Marissa Tiel
A man watches the sun rise over Niagara Falls in Niagara Falls, Ont. on Wednesday Nov. 4, 2020. Ottawa is rolling out a wave of new funding for pandemic-battered industries including tourism, the arts and regional aviation, with smaller companies top of mind — and large airlines notably absent. THE CANADIAN PRESS/Frank Gunn

Ottawa beefs up loans for hard-hit sectors — but big airlines not included for now

The move aims to bolster an industry made up largely of small and medium-sized businesses

A man watches the sun rise over Niagara Falls in Niagara Falls, Ont. on Wednesday Nov. 4, 2020. Ottawa is rolling out a wave of new funding for pandemic-battered industries including tourism, the arts and regional aviation, with smaller companies top of mind — and large airlines notably absent. THE CANADIAN PRESS/Frank Gunn
Deputy Prime Minister and Minister of Finance Chrystia Freeland speaks about the Fiscal update during a news conference in Ottawa, Monday November 30, 2020. THE CANADIAN PRESS/Adrian Wyld

VIDEO: With deficit closing in on $400 billion, Liberals detail more spending to come

The country has recovered about three-quarters of the three million jobs lost during spring lockdowns

Deputy Prime Minister and Minister of Finance Chrystia Freeland speaks about the Fiscal update during a news conference in Ottawa, Monday November 30, 2020. THE CANADIAN PRESS/Adrian Wyld
A cleaner wipes a glass panel at Toronto’s Eaton Centre Shopping mall on Saturday, March 21, 2020. The national statistics office will say this morning how much the domestic economy bounced back in the third quarter of the year. The Canadian economy suffered its worst three-month stretch on record in the second quarter as the economy came to a near halt in April before starting to recover in May and June. THE CANADIAN PRESS/Chris Young

Statistics Canada says economy grew at a record pace in third quarter of 2020

As historic as the rebound was, it fell short of expectations

A cleaner wipes a glass panel at Toronto’s Eaton Centre Shopping mall on Saturday, March 21, 2020. The national statistics office will say this morning how much the domestic economy bounced back in the third quarter of the year. The Canadian economy suffered its worst three-month stretch on record in the second quarter as the economy came to a near halt in April before starting to recover in May and June. THE CANADIAN PRESS/Chris Young
NDP Leader John Horgan, left, speaks as local candidate Ravi Kahlon listens during a campaign stop at Kahlon’s home in North Delta, B.C., on April 18, 2017. THE CANADIAN PRESS/Darryl Dyck

B.C.’s economic recovery minister says getting through pandemic will be team approach

Kahlon, 41, said he will consult broadly on the recovery

NDP Leader John Horgan, left, speaks as local candidate Ravi Kahlon listens during a campaign stop at Kahlon’s home in North Delta, B.C., on April 18, 2017. THE CANADIAN PRESS/Darryl Dyck
Pedestrians stroll along Spring Garden Road in Halifax on Thursday, Nov. 19, 2020. A new retail shopping event has arrived, encouraging consumers to support local, independent businesses during the holiday season. THE CANADIAN PRESS/Andrew Vaughan

‘Nightmare on Main Street:’ After a tough year, campaign urges consumers to buy local

Only 38 per cent of retail businesses are reaching their usual sales levels

Pedestrians stroll along Spring Garden Road in Halifax on Thursday, Nov. 19, 2020. A new retail shopping event has arrived, encouraging consumers to support local, independent businesses during the holiday season. THE CANADIAN PRESS/Andrew Vaughan
Children’s backpacks and shoes are seen at a daycare in Langley, B.C., on Tuesday May 29, 2018. THE CANADIAN PRESS/Darryl Dyck

National child-care system would boost women’s job numbers and economy, report says

Liberals have promised to make a long-term spending commitment to create a national child-care system

Children’s backpacks and shoes are seen at a daycare in Langley, B.C., on Tuesday May 29, 2018. THE CANADIAN PRESS/Darryl Dyck
Dan Kelly, President of the Canadian Federation of Independent Business (CFIB) speaks in Toronto on Thursday, September 11 2014. he Canadian Federation of Independent Business has asked the federal government to hold Canada Pension Plan premiums at current levels next year when they’re scheduled to rise. THE CANADIAN PRESS/Chris Young

CFIB calls for freeze on Canada Pension Plan premiums set to rise on Jan. 1

CFIB says employees could see their take-home pay fall when their CPP premiums go up

Dan Kelly, President of the Canadian Federation of Independent Business (CFIB) speaks in Toronto on Thursday, September 11 2014. he Canadian Federation of Independent Business has asked the federal government to hold Canada Pension Plan premiums at current levels next year when they’re scheduled to rise. THE CANADIAN PRESS/Chris Young
A woman pushes a baby stroller through a gentle snow fall on a sidewalk just below Parliament Hill in Ottawa Saturday, January 8, 2011. A new report from Royal Bank of Canada says more than 20,000 women left Canada’s workforce between February and October, but about triple the number of men joined it. THE CANADIAN PRESS/Fred Chartrand

Women leaving workforce faster than men, childcare playing big role in exodus: study

The study warns that this pattern could slow down the economic recovery

A woman pushes a baby stroller through a gentle snow fall on a sidewalk just below Parliament Hill in Ottawa Saturday, January 8, 2011. A new report from Royal Bank of Canada says more than 20,000 women left Canada’s workforce between February and October, but about triple the number of men joined it. THE CANADIAN PRESS/Fred Chartrand
A traffic light on Bay Street in Canada’s financial district is shown in Toronto on Wednesday, March 18, 2020. A new report says a culture of inequality continues to persist in Canada’s capital markets and the brunt of it is felt by women and people who are racialized, Indigenous or identify as LGBTQ2S+. THE CANADIAN PRESS/Nathan Denette

Inequality in capital markets sector continues to hurt women, BIPOC and LGBTQ: report

Study revealed that Black women were the least likely to say they were treated equally by firm and manager

A traffic light on Bay Street in Canada’s financial district is shown in Toronto on Wednesday, March 18, 2020. A new report says a culture of inequality continues to persist in Canada’s capital markets and the brunt of it is felt by women and people who are racialized, Indigenous or identify as LGBTQ2S+. THE CANADIAN PRESS/Nathan Denette