Canada Economics News
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With millions of mortgages coming due, finance minister expects banks 'to work with' Canadians
Finance Minister Chrystia Freeland says that the interests of banks, government and Canadians are aligned when it comes to the process of renegotiating millions of mortgages over the next 18 months. Federal housing money coming too late, advocates say
Some Canadian housing advocates say Ottawa needs to move faster to get newly pledged money out the door to spur much-needed construction. The government committed $16 billion for rental and social housing in Tuesday's fall fiscal update, but funding won't Canada's inflation rate cools to 3.1% but the cost of living keeps going up
Canada's consumer price index rose by 3.1 per cent in the year up to October, down from 3.8 per cent the previous month but in line with what economists were expecting. Billions to be announced for housing construction in federal fiscal update, says source
Deputy Prime Minister and Minister of Finance Chrystia Freeland will announce billions of dollars in loans and other incentives for housing construction, CBC News has learned. Abandoned travel trailers, drug waste, burning garbage found at Okanagan encampment
Burning garbage, dilapidated trailers, metal, human excrement and "tons" more refuse of varying origin are what those who tread into a South Okanagan encampment find. 'We are in a crisis': 1 in 10 Torontonians now rely on a food bank, new report finds
The annual Who's Hungry report is calling on all levels of government to step up with haste as it reveals one in 10 Torontonians are relying on a food bank. With 420,000 Quebec public workers off the job today, unions announce 3 more strike days
Hundreds of thousands of public sector workers in education, health and social services are on strike Monday, with unions announcing three more strike days later this month. As cost of living soars, millions of Canadians are turning to food banks
A new report from Food Banks Canada released Wednesday says the number of people using food banks this spring reached its highest point since it began collecting data in 1989 — and about 17 per cent of them were employed. St. Lawrence Seaway: Business groups concerned as workers go on strike
Business groups urged the federal government to intervene to void a lengthy labour dispute at the St. Lawrence Seaway amid concerns that a strike that began early Sunday could have a profound affect on their members. More dual-income homes relying on food banks, volunteers say
The impact of soaring food prices is taking a hard toll on B.C.'s food banks, which have seen increasing demand in the lead up to Thanksgiving – including among double-income families. Woman living in tent wonders what she should be thankful for this Thanksgiving
Penny Mutrey says it’s hard not to think about a traditional turkey dinner this year, as she continues to sleep in a tent. She is one of dozens who are camped out in front of Confederation Building to protest a lack of housing. Nearly 200 volunteers gather at Daily Bread Food Bank to sort, pack food ahead of Thanksgiving
With Thanksgiving Day around the corner, almost 200 volunteers gathered at Daily Bread Food Bank over the weekend to sort and pack food for families in need across Toronto. Constant price hikes are making inflation worse, Bank of Canada deputy says in speech
Bank of Canada deputy governor Nicolas Vincent says businesses raising their prices more frequently than they did before the pandemic is contributing to higher-than-expected inflation.California raises fast food min. wage to US$20 per hour
A new law in California will raise the minimum wage for fast food workers to US$20 per hour next year, an acknowledgment from the state's Democratic leaders that most of the often overlooked workforce are the primary earners for their low-income household
A new law in California will raise the minimum wage for fast food workers to US$20 per hour next year, an acknowledgment from the state's Democratic leaders that most of the often overlooked workforce are the primary earners for their low-income household Live updates: Canada’s inflation rate jumps to 4.0% in August
The August inflation rate is well above the Bank of Canada’s 2 per cent target International students in Canada living in a tent on the side of road
The students are sleeping on the cement with no blankets. Food is being provided by donations and Burger King Give homeless people cash and they spend it on housing, study reports
Study counters public perception that cash would just be spent on drugs and booze, researcher says International students say they want to study in Canada, but staying is a problem if they can't find housing
Advocates for those who come to Canada to study say more needs to be done at all levels of government to not only build more student housing, but to examine the incentives post-secondary institutions have to bring students to Canada in the first place. Video promoting $2,000 rent for 200-square-foot Vancouver apartment widely criticized
The rents for newly renovated studio units at the Lotus Hotel had been publicly listed for $1,995 a month for some time, but it took a viral TikTok video to spark a larger conversation about the property — and the state of renting in Vancouver's Downtow Fitch downgrades US credit rating from AAA to AA+
The rating agency said it had noted a "steady deterioration" in governance over the last 20 years. Prairie producers face supply chain woes, uncertainty due to B.C. port labour dispute
Manitoba's pork sector is just one of the industries trying to catch-up on business following the 13-day work stoppage at B.C. ports. The Prairie province exports about $730 million worth of pork out of West Coast ports every year. How do your federal carbon tax costs compare to your rebates' This tool helps you calculate that
This interactive tool helps you get a better sense of how the federal carbon tax is affecting your household finances if you live in one of the provinces where it applies. Minimum wage couldn't land you a 1-bedroom unit years ago. Now, it's even worse. Here's why
A new report released Tuesday by the Canadian Centre for Policy Alternatives found that while minimum wages have risen since 2018, they haven't increased as fast as rental rates. Researchers say this not only leaves workers spending too much on rent, but Buying a car has never been more expensive, assuming you can even find one — here's why
The pandemic caused upheaval in the vehicle market. But three years later, most of the supply chain problems have been fixed, yet a new conundrum is emerging: prices are sky high, and buyers are facing lengthy wait time if they're lucky enough to find a d Canadian GDP growth beats StatCan forecast in Q1 2023
The Canadian economy grew at a stronger-than-expected annualized rate of 3.1 per cent in the first quarter of 2023. More B.C. tenants are evicted through no fault of their own than anywhere else in Canada
Renters in British Columbia face the highest eviction rates in Canada by far, but it’s through no fault of their own, according to a new report from researchers at the University of British Columbia. Ontario tenant hit with $350-a-month rent hike calls for more transparency in lease agreements
The St. Catharines, Ont., resident says a provincial brochure included in lease agreements is 'sneakily written' and left her under the false impression her townhouse was rent controlled. Snow crab harvesters face final offer in search of better prices
The proposal sets $2.20 per pound as the minimum price of snow crab for the rest of the season. There is the opportunity for increases, which would be tied to the Urner Barry Index, which dictates the market price. Canada's farming future in trouble unless 30,000 immigrants fill gap of retiring farmers, report says
Researchers say Canada needs 30,000 new immigrants to either start up their own farms, or take over existing ones, to avoid a looming labour crisis in the agriculture industry. Some worry, however, current programs aren't set up to attract or support that Only 3 tomatoes per customer: Vegetable shortage hits the U.K.
Several British supermarket chains have limited the amount of some fresh fruits and vegetables that customers can buy amid shortages blamed on bad weather in Spain and Morocco. Canada's inflation rate slowed to 5.9% in January, but food costs continue to rise
Canada's inflation rate slowed to 5.9 per cent in January, Statistics Canada said on Tuesday. Canada Immigration Sets New Annual Record With More Than 437,000 New Permanent Residents
Immigration to Canada set a record last year, beating its own ambitious target, with 437,120 new permanent residents entering the country. Canada added 150,000 jobs in January
Employment growth in Canada blew past economists' predictions in January, even as forecasters had expected higher interest rates to weigh on the labour market. A look at the sneaky fees at Canada's biggest tourist spot that some call 'a total cash grab'
Marketplace has been investigating the hidden fees tacked onto consumers’ bills at hotels, restaurants and attractions in Niagara Falls, Ont., and has found the fees continue to increase with little oversight or regulation. Bonavista is looking to shut out Airbnb as long-term housing gets swallowed up by investors
The Town of Bonavista is hoping to put a freeze on accommodation properties because the short-term rental market in the popular tourism destination is putting stress on local housing, says the mayor. Canada’s economy loses momentum as rate hikes take hold
Statscan says gross domestic product rose by 0.1 per cent in November and the agency is forecasting flat growth in the final month of 2022 Inflation rate slows to 6.3% — but grocery prices are still nearly twice that
Canada's annual inflation rate cooled to 6.3 per cent in December, its lowest level since February. Canada's economy added 104,000 jobs in December, unemployment fell slightly
Canada's economy added 104,000 jobs in December as the unemployment rate fell slightly to 5.0 per cent, Statistics Canada said Friday. Half of Canadian workers will job hunt in 2023 for better pay and perks, according to poll
Half of Canadian workers plan to look for a new job in 2023, a nearly twofold increase from just a year ago, according to a new poll by recruitment firm Robert Half. By 9:43 a.m., Canada's richest CEOs have already earned the average worker's annual salary
According to a report released Tuesday by the Canadian Centre for Policy Alternatives, an Ottawa-based think-tank, the 100 best-paid chief executive officers in Canada now make 243 times what the typical worker earns: $14.3 million versus $58,800. Canadian doctors trained at international medical schools increasingly giving up on their home country for work
Canada’s health care system needs physicians to fill important gaps, but it has also set up barriers for international graduates to practise here instead of the U.S., Britain and Australia Avian flu causing turkey shortage ahead of Christmas, B.C. Poultry Association says
Avian flu is causing a turkey shortage in British Columbia, the B.C. Poultry Association said, warning it could pose a challenge for customers ahead of the high-demand Christmas season. Canada not doing enough with its highly educated immigrants, StatsCan says
Thanks in part to highly educated immigrants, Canada has the highest percentage in the G7 of working-age people with college or university credentials, according to Statistics Canada. Yet the agency suggests we're 'leaving talent on the table' by failing Back to Canada News
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