Wednesday 01 July 2009 OTTAWA: RECESSION EASES
Statistics Canada reports that the economy shrank by .1 per cent in April, the ninth straight such monthly decline. However, the economy improved slightly over the .3 shrinking recorded in March, a sign the recession could be receding. Economists are predicting that when the second quarter ends on Tuesday, the economy will have declined by between two and three per cent on an annualized basis, compared with the 5.4 drop at the end of the first quarter.
Thursday 11 June 2009 OTTAWA: TRADE TREND REVERSED
Canada incurred a small trade deficit in April, after two straight months of surplus. Statistics Canada reports that the deficit amounted to $179 million, after a $1-billion surplus in March. Exports fell 5.1 in April to $30.8 billion. StatsCan attributes the decrease to reduced shipments of industrial goods and materials, energy products, machinery and equipment. Exports account for almost one-third of gross domestic product and the latest figures bode ill for second-quarter growth.
Wednesday 27 May 2009 OTTAWA: FEDERAL DEFICIT SKYROCKETS
Finance Minister Jim Flaherty has acknowledged that this year's deficit will soar far beyond what he had predicted in his January budget. Mr. Flaherty says the figure will come to more than $50 billion for 2009-2010. The budget foresaw five years of deficits, with a $34-billion deficit this year and one of $64 billion over two years. Two months before the budget, Mr. Flaherty was forecasting surpluses. The minister explained: "We are going through a deeper economic slowdown than anticipated." Mr. Flaherty says that "systematic stabilizers" such as employment insurance will cost more and that there will be "substantial auto payments" that will be required. On Monday, the minister acknowledged that the recession has harmed government revenues from personal and corporate taxes and raised spending requirements.
Wednesday 27 May 2009 OTTAWA: JOBLESS BENEFITS RECIPIENTS CONTINUES TO RISE
Statistics Canada reports that the numbers of Canadians collecting employment benefits rose sharply in March. The figure for the month was 681,400, a 10-per cent surge over February. The rise is the most since the recession began last year. The Bank of Canada has forecast an economic shrinkage of 7.3 per cent for the first quarter, an exact number being expect from StatsCan on Monday. Since October, 321,000 jobs have been lost.
Tuesday 26 May 2009 MEECH LAKE: FEDERAL DEFICIT EXCEEDS BUDGET PREDICTION
Finance Minister Jim Flaherty has acknowledged that the federal deficit will be "substantially more" than he predicted in his budget in late January and that growth will be slower than he forecast. The minister's January prediction was for a deficit of $34 billion for 2009-10 and almost twice that for that year and the following. Mr. Flaherty attributes the higher eventual figures to the combination of lower personal and corporate taxes and greater spending commitments because of the recession. Mr. Flaherty made his remarks at a federal-provincial finance ministers meeting. The ministers agreed, meanwhile, to set up a study group to study Canada's private pension plans. Corporate pension plans have been seriously affected by last year's stock market collapse and other factors that have left companies including Air Canada and General Motors Canada with huge pension fund shortfalls.
Friday 15 May 2009 GATINEAU: FEDERAL DEFICIT COULD BE BIGGER: PM
Prime Minister Stephen Harper says the federal deficit could end up being much larger if more spending is needed to counter the recession. The prime minister told a gathering of Quebec mayors that the country can afford a spate of infrastructure projects because of Canada's relative fiscal strength. Mr. Harper contends that the country's debt-to-gross domestic product ratio is the best anywhere, and that although deficits may be large they'll be temporary. The government has projected a $34-billion deficit for 2009-2010, and an $85-billion shortfall by 2013. However, the parliamentary budget officer has said that the Conservative government's budget estimates are far too optimistic and that deficits will be much higher. Mr. Harper made his remarks in a speech in which he outlined to the mayors a multibillion-dollar transfer of funds to municipalities for infrastructure projects.
Wednesday 13 May 2009 OTTAWA: TRADE BALANCE IMPROVES
Statistics Canada reports that the country's trade surplus unexpectedly improved to $1.1 billion in March, after economists had predicted less than one-half that amount. The result was four times the surplus of $262 million recorded in February, after trade deficits in December and January. The December-March period was the only such since the mid-1970s when imports outweighed exports. An economist with Canadian Imperial Bank of Commerce cited by the Canadian Press explained the $1.1-billion surplus as due to a large drop in imports, a sign of weakening domestic demand. Meanwhile, bankruptcies ballooned in March, insolvencies or proposals to settle with creditors totalling 14,244, up 15.6 per cent from February. Alberta had the biggest rise, as consumer insolvencies rose 85 per cent from a year earlier.
Friday 10 April 2009 OTTAWA: TRADE FIGURES IMPROVE
On another subject, StatsCan reports a favourable but slender balance of trade result in February. The agency says the favourable import-export balance in the month amounted to $126 million, compared with a $1.2-billion deficit in the preceding month. Exports rose 5.2 per cent, while imports grew by 1.1 per cent. Exports of machinery and equipment and automotive products accounted for three-quarters of the gain in exports
Tuesday 17 March 2009 OTTAWA: ECONOMIC NEWS CONTINUES BAD
Statistics Canada reports that industries operated at only 74.7 per cent of capacity in the fourth quarter, the lowest capacity use since the federal agency began keeping records of such data in 1987. The decline was due chiefly to weak domestic and foreign demand for manufactured goods. More than one-half of the quarterly decline was due to decreases in purchases of transportation equipment, construction and primary metal manufacturers. StatsCan registered declines in 16 of 21 major industries. The agency also reports that the average Canadian was about $14,000 poorer at the end of 2008.
Peter G. Halll VP EDC Economics Weekly Commentary Peter G. Hall VP EDC Economics Weekly Commentary Canadian Trade Tumbles - March 4, 2009
For world GDP, the fourth quarter of 2008 was ugly. Canada was no exception, as our economy fell into recession, shrinking by an annualized 3.4% in the quarter. But Canada suffered a lot less than most other large economies – strange, given our greater dependence on international trade. Has our resilient domestic economy helped us to sidestep the worst of the global gloom? Past issues | his WN page
Commentary podcast.
Friday 27 February 2009 OTTAWA: CORPORATE PROFITS PLUNGE
Canadian corporate profits in the last quarter of 2008 dipped to a 16-year low, for a total of $65.4 billion, 16 percent lower than the previous quarter. The declines were widespread, as 16 of 22 industries reported lower profits at year-end. As far as this year is concerned, several of Canada's major banks started in the black. At least three are reporting profits for the first quarter, and although they were lower than last year's, they were better than anticipated, given the state of the economy.
Thursday 12 February 2009 OTTAWA: TRADE DEFICIT
For the first time in 33 years, Canada last month posted a trade deficit with the United States, its biggest trading partner. Statistics Canada says the deficit totalled $458-million. The previous month, Canada showed a trade surplus of more than one billion dollars. Canadian exports fell almost ten percent, with reductions in sales of machinery, automotive products and industrial goods. Imports dropped by just over eight percent.
Thursday 05 February 2009 OTTAWA: ERA OF DEFICIT SPENDING RETURNS TO CANADA
As expected, Canada's minority the Conservative Party government's budget passed Tuesday night in the House of Commons with support from the official opposition Liberal Party. In exchange for the Liberals' support, the government must report regularly to the House of Commons to update the results of its economic stimulus package. The government tabled its budget last month with the aim of of stimulating the struggling Canadian economy that has been hit hard by the global financial crisis. The budget creates a C$64-billion deficit spread over a two-year period.
Wholesale sales in Canada declined during the month of November. They were down by 3-percent, reflecting lower export demand for Canadian goods and weaker sales within Canada. Statistics Canada reports it was the third decline in four months.
Wednesday 21 January 2009 OTTAWA: MANUFACTURING SLIDE CONTINUES
There was more evidence Tuesday of the ongoing economic decline in Canada. Sales by Canadian manufacturers were down by more than six percent in November, the fourth consecutive monthly decline. At a total value of $48.4-billion, sales are at their lowest level since the end of 2004. Statistics Canada reports the most significant decreases were in the petroleum, coal and aerospace industries.
Wednesday 14 January 2009 OTTAWA: TRADE SURPLUS AT 11-YEAR LOW
There's another sign of economic decline in Canada. Both exports and imports were down during the month of November, while the trade surplus - the amount by which exports exceed the value of imports - dipped to $1.3-billion, its lowest level in 11 years. Statistics Canada says more than two-thirds of the drop in exports and almost all the decrease in imports were due to energy products, as crude petroleum prices continued to fall.
Tuesday 02 December 2008 OTTAWA: ECONOMY GROWS BY LITTLE
Canada's economy grew by .3 per cent in July, August and September. Statistics Canada says it was the weakest growth since the fourth quarter of 2003. Canada's gross domestic product expanded by 1.3 per cent in the third quarter. More robust growth was countered by a slowdown in personal spending.
Wednesday 26 November 2008 OTTAWA: CANADA DECLARED IN RECESSION
The Organization of Economic Co-operation and Development has declared Canada in recession, a state of affairs which the 30-nation grouping says will last into most of next year. The projection is the most severe of any projection for the economy by any official or quasi-official body. The international think tank says Canada's exports will suffer and that unemployment will rise above seven per cent, the rate now being 6.2 per cent. The OECD recommends that the Bank of Canada intervene by lowering its trend-setting interest rate. The central bank is expected to do so on Dec. 9. The OECD predicts an average contraction of .4 per cent among its 30 members next, the U.S. decline amounting to .9 per cent.
Tuesday 25 November 2008 OTTAWA: CONSUMER CONFIDENCE DROOPS
The Conference Board of Canada says that its consumer confidence index stands at its lowest level since 1982, when the country was in recession. The Conference Board's deputy chief economist, Paul Darby, says the stock market slump has negatively affected how consumers see the economic situation and their job prospects. The private researchers say the mood is most negative in the three Prairie provinces. The survey by the Conference Board of Canada says consumer confidence in the Prairies dropped 7.4 percentage points between October and November, the region's biggest decline on record. About 7.6 per cent more people in the Prairies this month said they expected fewer jobs in their communities than they did in October. Only 12.4 per cent of respondents said they believe there are going to be more jobs.
Friday 14 November 2008 OTTAWA: TRADE SURPLUS SHRINKS
The country's trade surplus shrank by 20 per cent in September compared with the previous month to $4.5 billion. Statistics Canada reports that the result is due to lower exports and higher imports. Exports to the U.S., Canada's biggest trading partner, decreased for the second straight month by 1.3 per cent.
Saturday 01 November 2008 CANADIAN ECONOMY SHRINKING
Canada's economy contracted by 0.3 per cent in August, a turnaround from the growth of 0.7 per cent seen in July, Statistics Canada said Friday. Wholesale trade, manufacturing, and the energy sector, the big contributors to the July increase, all retreated in August, the federal agency said. Some transportation industries, such as rail and truck transportation, were also affected by the downturn. Economists had been looking for an August decline in the range of 0.4 to 0.5 per cent. Statistics Canada said output in the energy sector fell by 0.5 per cent in August, following a 2.7 per cent rise in July. Petroleum and natural gas extraction both declined in August, and the pipeline transportation of natural gas dropped as well. Refinery output dipped by 4.5 per cent, partly as a result of production disruptions at two major plants. Wholesale trade dropped 3.1 per cent in August, cancelling the gains of July. A decrease in the wholesaling of automotive products accounted for about three-quarters of the drop in August.
Friday 31 October 2008 OTTAWA: CANADA DEEMED POOR IN INNOVATION
In the latest of a series of reports concerning innovation, the Conference Board of Canada has said that the country's industry continues to fail to turn good ideas into commercial applications. The private researchers rank Canada 13th among the 17 industrialized countries studied. The Board's vice-president of public policy, Gilles Rhéaume, says Canada has ranked low in innovation since the 1980s. The Board says the internationally successful BlackBerry email deviced developed by the Research in Motion firm of Waterloo, ON, is the exception rather than the rule. The research also cites the country's aerospace industry, a success because of the collaboration between business and government. The Board gives the highest marks for innovation to the U.S., Switzerland and Ireland.
Wednesday 22 October 2008 TORONTO: POOR-RICH GAP WIDENS
New research shows that the gap between rich and poor in Canada widened in the decade starting in 1995. The study released by the Organization for Economic Co-operation and Development says this was so because the Canadian government spent less on benefits than many other developed nations. As the former Liberal government slashed social spending to reduce huge budget deficits and a recession set in in the early 1990s, there was less money for social programs and jobless benefits. The research was carried out by the Institute for Research on Public Policy, a Montreal-based group that studies economic, social and other public policy issues. One of its senior fellows predicts that the current slump will cause jobs losses and reduced incomes for rich and poor alike.
Friday 17 October 2008 OTTAWA: DEPARTING MPs GET GOLDEN HANDSHAKE
The Canadian Taxpayers Federation says that the spectacle of defeated or retiring Members of Parliament receiving generous benefits contributes to voter cynicism and their disinclination to vote. Federation President Adam Taylor says voters will be especially disgruntled this year because the global financial meltdown has melted down the value of their Registered Retirement Savings Plans. Mr. Taylor says the the rich pension plans which MPs have created for themselves over the years reinforces the public perception that politicians care more about themselves than their constituents. Sixty-five former MPs are eligible for either generous pension benefits or a severance payment of $77,700 if they sat in the House of Commons less than six years. Former Prime Minister Paul Martin, a millionaire, qualifies for a yearly indexed pension of $167,051. Retiring MP Bill Blaikie will receive $122,224 annually. Mr. Taylor says the outgoing MPs will collect a total of $52.4 million in pensions if they live to the age of 75, taxpayers having paid $4 for every $1 that the MPs contribute to the pension fund.
Saturday 11 October 2008 OTTAWA: JOB STATS CONFOUNDS ECONOMISTS
Statistics Canada reports that a record 107,000 new jobs were created last month, an outcome that contradicts the predictions of economists who had foreseen a much more modest result. However, 90 per cent of the new jobs were part-time. Prime Minister Stephen Harper was heartened by the news, telling a campaign crowd in Brantford, ON, that the tidings prove that "...our fundamentals are strong..." Finance Minister Jim Flaherty says the job numbers show that the Conservative government is handling the economy correctly, particularly by cutting taxes last October to stimulate activity. The news would appear to boost the Conservatives with only four days left in the national election campaign. The unemployment rate remained unchanged at 6.1 per cent. The news also did nothing to bolster the Canadian dollar, which
Thursday 09 October 2008 OTTAWA: CHILD POVERTY FOUND PERSISTENT
A report indicates that not enough is being done to prevent child poverty in Canada. A report by Community Foundations of Canada finds that child poverty is virtually at the same level as it was in 1989. The report says in 2006 there were 1.6 million children or 23 per cent of Canadian children living in poverty. The highest child poverty rates among the 15 communities studied were found in two of Canada's major cities, Toronto and Vancouver. Canada has an population of about 33 million.
Saturday 04 October 2008 VANCOUVER: FORESTRY BUSINESS IN DIRE STRAITS
A report depicts Canada's forestry sector as the least-performing in the world. The survey by PricewaterhouseCoopers shows that Canada's top 15 forest and paper firms lost US$1.8 billion in the first six months of the year. In the same period, forestry firms in the U.S., Europe and Asia all made money. The researchers found that firms there have better technology, more diversified products and geographic customers. According to PricewaterhouseCoopers, Canada's industry is suffering from the slump in the U.S. housing market and its reliance on the U.S. market, the latter absorbing 80 per cent of Canada's exports. The study finds as well that Canada's lumber mills are older, while other countries have upgraded their facilities.
Tuesday 30 September 2008 OTTAWA: FEDERAL SURPLUS LOWER THAN FORECAST
The finance department says its surplus for fiscal year 2007-2008 amounted to $9.6 billion, down from the $10.2 billion predicted in the budget. The department says revenues were $1.2 billion lower than forecast and spending on programs was $1.7 billion lower than thought.
Saturday 27 September 2008 OTTAWA: GOVT. HEADING TOWARD ANOTHER SURPLUS
The federal finance department reports that the government was running a budget surplus of $2.9 billion in the first four months of the fiscal year. The amount is already more than the $2.3 billion surplus which Finance Minister Jim Flaherty had predicted for the entire year. The surplus was recorded at a time when the government was losing revenue because of one-per cent reduction of the Goods and Services Tax and personal and corporate tax reductions. However, the first half of 2008 has also seen record prices for such commodities as oil. Mr. Flaherty has insisted that the government isn't headed for a deficit because of commodity prices. The surplus at this time last year amounted to $6.7 billion.
Canada edged higher on a rank of the best countries for information technology, rising to sixth place from ninth.
The study by the Economist Intelligence Unit, made for the Business Software Alliance, measures the competitiveness of the IT industry in 66 countries. Canada rose thanks to improvements in education and training.
Wednesday 17 September 2008 OTTAWA: CANADA RANKS LOW IN DRUG COVERAGE
New research shows that Canada's government is far behind most of the developed world in covering the cost of drugs. The study indicates that Canada ranks seventeenth out of 18 countries. In 2002, the Liberal Party government committed to develop a National Pharmaceutical plan. But six years later, the minority Conservative Party government of Stephen Harper says that it needs more information on the plan. Patients say that the former Liberal government plan would help sick Canadians who cannot afford drugs that they need. But no pharmaceutical plan has yet come into effect.
Saturday 13 September 2008 Canada's capacity rate hits 16-year low
Weak exports meant Canadian industries ran at just 78.9 per cent of their capacity in the second quarter of this year, the lowest level in 16 years and further evidence the economy is struggling.
Friday 12 September 2008 TORONTO: MANY PESSIMISTIC ABOUT RETIREMENT PROSPECTS
Statistics Canada reports that almost 30 per cent of Canadians between the ages of 45 and 59 think they won't have enough income to maintain their standard of living, saying it will be "barely adequate." Nine per cent expect it to be "inadequate" or "very inadequate." The agency says that those who have pension coverage or RRSPs or own a home tend to be more optimistic.
OTTAWA: TRADE SURPLUS DROPS
The country's trade balance fell 14 per cent in July due to a strong increase in imports, which increased more than exports. Statistics Canada reports that the surplus fell by $4.9 billion, compared with the $5.6 billion which economists had forecast. Imports rose for the fourth straight month by 4.6 per cent to $39.5 billion. The rise affected all economic sectors, particularly cars. Exports rose only two percent to $44.3 billion because of a fall in deliveries of energy products, the first such drop in a year. Trade with the U.S. allowed Canada to maintain a trade surplus, trade with the rest of the rest of the world continuing to show a deficit.
Thursday 11 September 2008 OTTAWA: CANADIAN PRODUCTIVITY CONTINUES TO LAG
Statistics Canada reports that the labour productivity of Canadian businesses dropped for the third straight quarter. The agency says productivity fell .2 per cent in the second quarter, following declines of .6 per cent in each of the two previous quarters. The main declines came in mining, gas and oil extraction and construction. By contrast, despite the economic downturn in the U.S. productivity there in the second quarter grew by 1.1 per cent, after improving by .6 per cent in the previous quarter
Saturday 30 August 2008 OTTAWA: ECONOMY AVOIDS RECESSION
Statistics Canada reports that the economy grew by .3 per cent in the second quarter. The news means that the country has avoided for the time being a formal state of economic recession, growth having dropped .8 per cent in the first quarter. The federal agency says gains were recorded in the public sector, finance, insurance and the retail trade. There were declines in the energy sector, particularly in natural gas production. Federal Finance Minister Jim Flaherty commented that the country is feeling the effects of global economic factors, particularly the struggling U.S. economy.
Friday 29 August 2008 OTTAWA: EXPORTS FUEL FAVOURABLE TRADE BALANCE
Statistics Canada reports that the country's trade balance expanded to $6.8 billion in the second quarter. The agency attributes the gains chiefly to higher prices for several commodities, particularly natural gas and oil.
Wednesday 27 August 2008 OTTAWA: HISTORIC FORTRESS NEEDS $100 MILLION IN REPAIRS
The Canadian Press reports that Quebec City's historic Citadelle fortress needs to be reinforced to the tune of $100 million over 10 years. CP found the figure in the army's 2007 strategic plan. According to the plan, the army cannot shoulder the expense alone and must look for help from Public Works Canada and Parks Canada, which are co-owners along with the Canadian Forces. The Citadelle is the headquarters of the 2nd Battalion Royall 22nd Regiment. The foundations of the structure date back to New France in the 17th century.
Saturday 23 August 2008 OTTAWA: FEDERAL QUARTERLY SPENDING IN THE BLACK
The finance department reports a budget surplus of $1.7 billion for June, offsetting deficits in April and May. As a result of the strong month of June, the first quarter shows a surplus of $1.2 billion. That figure is lower by $4.4 billion from a year earlier, reflecting a slowing economy which reduces corporate and individual taxes. The department says it's too early to predict how the entire fiscal year will go.
Saturday 12 July 2008 OTTAWA: TRADE SURPLUS UP
Statistics Canada reports that the country's trade surplus rose by 16 per cent in May to more than $5.5 billion. The trade surplus declined in April for the first time in four months. The agency attributes the improvement to an increase in exports to country's other than the U.S., Canada's main trade partner.
Saturday 12 July 2008 OTTAWA: EMPLOYMENT SITUATION DETERIORATES
The national employment situation worsened in June. Statistics Canada reports that there were 329,200 fewer full-time workers than in May. However, almost a similar number of part-time jobs appeared. Altogether, there were 5,000 fewer of both kinds of jobs, with the result that the unemployment rate rose by one-tenth of a percentage point to 6.2 per cent, the highest rate since January 2007. Ontario was the hardest hit of the 10 provinces.
Tuesday 01 July 2008 OTTAWA: ECONOMY RALLIES MILDLY
Statistics Canada reports that the economy grew by a slight .4 per cent in April, in all likelihood keeping the economy out of recession. The result exceeds economists' predictions and reverses two previous months of negative growth. Most of the growth came in the troubled manufacturing sector, with motor vehicle production up by seven per cent. Most economists are now forecasting a growth rate of under one per cent in the second quarter and about the same for the rest of the year.
Friday 27 June 2008 OTTAWA: NEWCOMERS MAKING DEMOGRAPHIC DIFFERENCE
Statistics Canada reports that the population of the eastern province of New Brunswick has climbed steadily this year, as immigrants make up for natural losses in an aging population. The agency says the first quarter was the sixth in a row to post overall population growth. Last winter, Premier Shawn Graham set a target of boosting the population by 6,000 by the end of 2009. Immigration is making a difference also in the western province of Alberta. StatsCan reports that the population grew by almost 15,000 in the first three months. The agency says a growing stream of immigrants, refugees and temporary foreign workers enabled Alberta to reclaim its title as the fastest-growing province back from neighbouring Saskatchewan, which was in that position in the second half of last year. see population.asp
Friday 20 June 2008 OTTAWA: WELFARE ROLLS DROP
A study by the C.D. Howe Institute reports that a dramatic decrease in the numbers of Canadians receiving welfare has occurred. The researchers have found that numbers dropped by 43 per cent between 1993 and 2005 to 1.7 million. The study says that only about one-half of that 43 per cent is due to a greatly improved jobs market, much of the rest being attributable to welfare reform which made benefits more difficult to obtain.
Sunday 15 June 2008 OTTAWA: PRODUCTIVITY DECLINES
Statistics Canada reports that the labour productivity of Canadian businesses declined by .3 per cent in the first quarter, the second consecutive such decline. The agency attributes the latest fall in productivity on bad weather, reduced working hours and a drop in manufacturing output, particularly in the motor vehicle industry
Saturday 31 May 2008 TORONTO: ECONOMY SHRANK
Statistics Canada reports that the country's economy declined by .1 per cent in the first quarter in the first such quarterly shrinkage in almost five years. StatsCan attributes the decline chiefly to widespread cutbacks in the manufacturing sector, especially with motor vehicles. The agency also reports, however, that gross domestic product would have grown by .1 per cent in the quarter but for the vehicle industry and its downstream repercussions.
MONTREAL: FINANCE MINISTERS NONETHELESS UPBEAT
Despite the apparently dispiriting news from StatsCan, the country's finance ministers expressed optimism at the conclusion of their annual two-day meeting that the country won't fall into recession . Federal Minister Jim Flaherty says the economy's fundamentals are strong and predicts that the automobile and forestry sectors, the main sources of the quarterly decline, will recover. But Ontario's finance minister, Dwight Duncan, while acknowledging the economy's basic strengths, said the recovery would be hastened if the federal government joined in targeting those two sectors for immediate financial aid.
Friday 30 May 2008 TORONTO: TRADE SURPLUS UNEXPECTEDLY UP
Statistics Canada reports that the country's trade surplus in the first quarter amounted to $5.6 billion. The figure is almost twice as high as what analysts had predicted. The Canadian Press cites an economist with the Bank of Montreal as saying that the chief explanations are higher commodity prices, particularly oil, and a lower travel deficit. StatsCan reported the first trade deficit in eight years in the fourth quarter of last year, but revised its evaluation on Thursday to a small surplus.
Sunday 25 May 2008 OTTAWA: GOVT. RECORDS STILL ANOTHER BUDGET SURPLUS
The finance department has published preliminary figures which show that the federal government has recorded its 11th consecutive budget deficit. The figure of $10.2 billion is the same as that which Finance Minister Jim Flaherty committed the government to repay toward the national debt, which as of March 31 amounted to $512.5 billion.
CALGARY: LISTED FIRMS PREDICTED TO EXCEED PROFIT FORECAST
The Canadian Imperial Bank of Commerce predicts that firms listed on the TSX will surpass considerably the profit margins which the bank had predicted for them. CIBC World Markets says the companies will earn 21 per cent more this year than last. Its report says that a weaker U.S. economy and a lagging financial sector will limit growth to 10 per cent in the first half but that the economy will produce 30 per cent growth in the second half. The report attributes the burst to a recovery in the U.S. and the booming energy and natural resources sectors. About one-third of the firms listed on the TSX are linked to energy.
Saturday May 24, 2008 Federal surplus on target at $10.2B
The federal government last year chalked up what's likely to be the last of a decade of fat federal ... While the preliminary 2007-08 surplus, reported yesterday by the Department of Finance, still represents the "over-taxation" of Canadians - in the order of $320 for every man, woman and child - and government spending is "rising too fast," Canadian Taxpayers Federation director John Williamson said both are in line with budget projections, suggesting the Conservative government is finally "becoming more responsible about hitting its targets."
Tuesday 20 May 2008 OTTAWA: FINANCE MINISTER PRAISES OWN FORESIGHT
Federal Finance Minister Jim Flaherty says that the personal and business tax reductions which he introduced last October are having a stimulative effect on the economy just as it has begun to slow down. Mr. Flaherty says the tax rebates sent out by Revenue Canada this spring have averaged $1.430 per individual, a 14-per cent increase over the previous year. The minister says some of the money is going for new car sales and new machinery and equipment to boost productivity. In October, the minister announced $60 billion in personal and corporate tax measures over five years, including a one-per cent reduction of the Goods and Services Tax as of Jan. 1. Mr. Flaherty has resisted a call by Ontario Premier Dalton McGuinty to hand out tens of millions in subsidies to automakers in return for commitments to build new or to retain existing factories in Canad a, saying he prefers creating a low tax environment which will be of benefit to all businesses.
Friday 16 May 2008 OTTAWA: TWO PROVINCES BOOM AS NEVER
The western province of Saskatchewan and Newfoundland and Labrador in the east are enjoying unprecedented prosperity. Statistics Canada reports that both provinces are riding the crest of the wave of high world commodity prices. The agency says that Newfoundland led the country in growth of gross domestic product in 2007 at 13.4 per cent, much of the growth powered by oil exports. Saskatchewan was second in growth with 11.4 per cent. Newfoundland also recorded the biggest one-decade growth in Canadian history. In 1997, the province's per capita income was $10,000 below the Canadian average, but last year the figure rose to $57,348, more than $10,000 above average.
Monday 05 May 2008 Politicians hit bottom
An Angus Reid poll has confirmed what most Canadians already know: We don't think much of politicians.
Friday May 2, 2008 Income disparities grow
Feel like you're just treading water economically? Well, join the club. Most working Canadians are in... The report said the median earnings of Canadians who work full time, year round edged up a mere 0.1 per cent to $41,401 in 2005 from $41,348 in 1980, despite a 2.4-per-cent gain since 2000. All figures are in inflation-adjusted 2005 dollars.
By contrast, those in the top 20 per cent of earners saw their incomes rise 16.4 per cent over the quarter century, including a 6.2 -per-cent gain since 2000.
Friday 25 April 2008 NEW YORK: FINANCE MINISTER CONFIDENT OF BALANCED BUDGET
Canadian Finance Minister Jim Flaherty says the government's books will be balanced this year despite lower economic growth. The minister says the government has the financial tools at its disposal to avoid a deficit. In his February budget, Mr. Flaherty predicted economic growth of 1.7 per cent. But on Tuesday the Bank of Canada projected a figure of 1.4 per cent. The lower growth is due in part to the economic slump in the U.S. and the impact of the world credit crisis on manufacturing in Ontario and Quebec. The lower growth will translate into lower tax revenues for Ottawa both from personal and corporate taxes.
Tuesday 22 April 2008 OTTAWA: GOVT. COULD FALL INTO DEFICIT
The Dominion Bond Rating Service says that the federal government could incur a deficit for the first time in more than a decade. The government recorded its 11th straight budget surplus in the 2007-2008 fiscal year. But DBRS says that Finance Minister Jim Flaherty's prediction of 1.7 per cent growth and a $2.3 billion budget surplus could be too optimistic. The rating service says this is because of "a deteriorating growth outlook" combined with major tax cuts over the past year. Two weeks ago, the International Monetary Fund predicted that growth in Canada would slow to 1.3 per cent in 2008 because of the economic difficulties of the country's biggest trading partner, the U.S.
Tuesday 15 April 2008 OTTAWA: COMMUNITIES REPORTED IN DEMOGRAPHIC DOWNTURN
Statistics Canada reports that one community in five is vulnerable to demographic loss and that one in 20 is a victim of unemployment due to globalization. The agency's study on the two topics says that while integration to new economic markets has opened up new outlets for Canadian goods, it has also increased exposure to world competition in such areas as agriculture, forestry and mining, a situation engendering demographic loss in several regions of the country. These include the Prairie provinces, northern Ontario and Quebec and the remotest areas of Atlantic Canada.
Saturday 05 April 2008 OTTAWA: ECONOMIC TIDINGS MIXED
Statistics Canada announced good and bad news on Friday. The federal agency says 14,600 new jobs were created, although almost all of them were part-time positions. The unemployment rate rose slightly to six per cent, chiefly due to a rise in the number of job seekers. On the downside, 47,000 jobs were lost in the manufacturing sector in Ontario and Quebec. The Royal Bank of Canada attributes much of the distress to the U.S. economic downturn, saying that those two provinces will suffer the most because of their reliance on exports to the U.S. The bank has downgraded its growth prediction for Canada for the year to 1.6 per cent.
Sunday 30 March 2008 OTTAWA: SURPLUS SLASHED
The federal finance department says the government's budget surplus in January amounted to only $600 million, compared with $2.4 billion 12 months earlier. Revenues in the month fell by $900 million, or almost four per cent. The department attributes the figures to the one-per cent reduction of the Goods and Services Tax and the personal income tax cuts announced last fall. The January statistics seem to show that the huge budget surpluses recorded in recent years won't immediately be repeated because of tax cuts and slowing economic growth.
Monday Mar 17, 2008 Electric car made here, but don't try to drive it
A Canadian manufacturer is crying foul over a bureaucratic tussle it believes is blocking its low-speed... ZENN Motor Co. has sold thousands of its vehicles in the United States, but the Zero Emissions No Noise vehicles cannot be purchased for use on Canadian roads.
Wednesday 12 March 2008 OTTAWA: TRADE SURPLUS REBOUNDS
Canada's trade surplus rose by 3.6 per cent in January from December to $3.3 billion, up from $2.3 billion in the former month. Exporters sold $38 billion worth of goods. The January figure reverse a downward trend that had persisted through most of 2007, due in part to the strong Canadian dollar.
Tuesday 04 March 2008 OTTAWA: ECONOMY TANKS IN FINAL QUARTER
Statistics Canada reports that the economy grew by only .8 per cent in the fourth quarter of 2007, only one-half of what the Bank of Canada had forecast. StatsCan says the economy actually shrank in December. Exports declined 2.2 per cent, due in part to the strong Canadian dollar. Imports were up 2.6 per cent. Despite the poor fourth quarter, the economy grew for the year by 2.7, only a bit lower than the figure for the previous year. On Tuesday, the new governor of the Bank of Canada, Mark Carney, will announce whether he intends to try to boost the economy by lowering the central bank's trend-setting lending rate.
Sunday 17 February 2008 OTTAWA: MANUFACTURING SECTOR IN FREEFALL
Statistics Canada reports that sales for manufacturing sector fell to their lowest level in three years in December. The agency says sales amounted to $48.6 billion, a drop of 3.4 per cent from November. The drop is mainly due to the closure of several auto plants. The chief economist for J.P. Morgan Securities Canada, Ted Carmichael, explains that the effect on Canadian manufacturers of the slowdown in the U.S. has been more rapid than foreseen and that therefore the perspective of a recession in Canada have increased.
Tuesday 12 February 2008 OTTAWA: BUSINESS PROFITS AT RECORD LEVEL
Statistics Canada reports that business earnings for 2006 amounted to $285.6 billion, an 11.5-per cent increase over the previous year and a record. The agency says the increase came in all business sectors.
Saturday 09 February 2008 OTTAWA: JOBLESS RATE DROPS
Canada's unemployment rate dropped last month. Figures released today show that 46,000 new jobs were created in January. The unemployment rate was 5.8 per cent, down from 6 per cent in December. There had been expectations that the unemployment rate would be higher because of a slowing economy.
Monday Feb 4, 2008 Batteries not included
Big toys need big money to operate, but there is no fund to pay the $70M annual cost of Canada's scientific showcases Unlike Britain, Germany, Japan and the U.S., Canada does not have a national program to cover major science facilities and ensure they run smoothly.
Various federal and provincial agencies - chief among them the Canadian Foundation for Innovation - contributed money to construct the facilities, which are meant to build on Canada's scientific strengths and help retain scholars lured to Canadian universities in recent years.
Wednesday 30 January 2008 OTTAWA: RAILWAYS SHOW STRONG PERFORMANCE
Operating revenues for Canada's railways increased in 2006 for the eighth consecutive year. A report by Statistics Canada found that revenues rose almost six per cent to CDN$10.4 billion. The amount of commodities carried in 2006 rose by just under one per cent over the previous year to 282 million metric tonnes. The main commodity was coal. Statistics Canada concluded that revenues increased as a result of a favourable economy, freight rate increases and higher fuel surcharges. The railway industry also made efforts to improve performance.
Saturday 26 January 2008 OTTAWA:INFLATION RATE DIPS
Statistics Canada reports inflation last month slipped to 2.4 per cent from 2.5 per cent in November. And it says inflation is due to take a further downturn this month because of the one-point cut in the federal Goods and Services Tax (GST) that took effect in the new year. For the full year, inflation averaged 2.2 per cent, slightly higher than the 2 per cent in 2006.
Friday Jan 25, 2008 Canada Federal surplus running at $6.7 billion The latest monthly report on the government's finances suggest it easily has the cash to cover the cost of other tax measures - such as the GST cut, which kicked in on Jan. 1 - and meet its commitment to provide $1 billion in relief in the upcoming budget to help offset the impact on manufacturing and forestry industries of the strong dollar and weakening U.S. economy.
In November, however, the surplus was just $100 million, down from $400 million a year earlier, suggesting that the flow of cash into government coffers may be slowing with the economy.
Saturday 19 January 2008 OTTAWA: MANUFACTURING SALES UP IN NOVEMBER
Statistics Canada says Canadian manufacturing sales rose 1.1 per cent in November to $50.6 billion. The agency says almost all of the increase came from surging sales of petroleum and coal products, which benefited from sharply rising prices. It says 11 out of 21 industries, representing two-thirds of total manufacturing, had increased sales in November. Sales of non-durable goods rose 1.6 per cent in November for a second consecutive monthly increase after four months of decline. Sales of durable goods rose 0.8 per cent. Unfilled factory orders advanced for the first time in three months, gaining 4.9 per cent, and new orders jumped 8.1 per cent.
Saturday 12 January 2008 OTTAWA: TRADE SURPLUS EXPANDS AGAIN
Canada's trade surplus expanded for the second straight month as merchandise exports rose in November while imports increased at a slower pace. It was only the third export increase in 2007 and halted a three-month decline. Canadian companies exported $37.9 billion worth of merchandise, a 3.1 per cent increase, while imports rose 1.7 per cent to $34.2 billion. Canada's trade surplus with the world expanded to $3.7 billion, up from a revised $3.1 billion in October. While exports have grown since early 2006, the share of Canada's exports to the United States has fallen. Exports to the United States accounted for 75 per cent of the total in November, compared with 82 per cent in January 2006.
TORONTO: RBC PREDICTS SLOWER GROWTH IN 2008
The latest forecast from RBC says difficult conditions in the trade sector will slow Canada's economic growth this year. In a statement released Friday, RBC predicts the national economy will grow by 2.1 per cent in 2008, down from 2.6 per cent last year. RBC is forecasting strain on the trade sector due to the high Canadian dollar and weak economic performance in the US But the report says the sluggish performance in trade will be offset by a strong labour market and rising wages, as well as the recent percentage point reduction in the GST. RBC says the same factors should help boost consumer spending across the country. The forecast calls for slower growth in the first half of the year as a result of the plummeting housing sector and credit market tightening south of the border.
Tuesday 01 January 2008 MISSISSAUGA: PM ANTICIPATES ECONOMIC RIPPLES
Prime Minister Stephen Harper says he hopes the Canadian economy will maintain its momentum in 2008. He says with an uncertain global economy, his government will be looking to shelter Canadians from any unexpected problems. As of January 1st, the value-added Goods and Services Tax (GST), imposed at the federal level, will be cut to five per cent from six percent. But Mr. Harper says Canadians should not expect further tax cuts in 2008, adding that his government will be cautious on tax relief or new program spending. He says that with the latest cut in the GST consumers will save 12 billion dollars over the coming year. However, some economists point out that the cut will disproportionately benefit the wealthy. Canadians, they contend, would have been better served by a reduction in their income taxes.
2007
Friday 21 December 2007 TORONTO: COMMODITIES BOOMING
The Bank of Nova Scotia says its commodity price index hit a record high in November and that the boom should continue through the first half of 2008. The index measures 32 of Canada's major exports. The index rose 4.5 in November compared with the previous month, three per cent more than above the previous high in May 2007. Oil and natural gas led the index, jumping 13.4 per cent. Scotiabank predicts a strong performance from western Canada's potash, as China renegotiates its price, which is now US$190 below the current world market price. The bank predicts an increase of as much as US$150 a tonne.
Thursday 20 December 2007 Canada's population tops 33 million As of Oct. 1, 2007, Canada's population was estimated at 33,091,200, up from 115,200 from July 1, 2007. It is the strongest growth rate in six years.
Friday 14 December 2007
CANADA’S DETERIORATING PRISONS CTV
News, the
Globe and the Star
go inside with the release of a gloomy report on the state of the Canadian
prison system. According to a prison review panel headed by Ontario
Conservative MPP Rob Sampson, new strategies are required to fight growing
violence and criminal culture within Canadian prisons. The panel found that
Canada’s penitentiaries are not equipped to properly rehabilitate
inmates, who are increasingly likely to be “violent,
gang-affiliated, addicted and mentally ill.” Sampson et al
determined that inmates often “wait out” their incarcerations
instead of actively participating in their rehabilitation, and that prison
life today doesn’t sufficiently promote “a positive work
ethic” in inmates. This diagnosis came with 109 recommendations for
improving the current system, including building regional
“super-jails,” in which more concentrated attention could be
paid to a greater number of prisoners, and adopting earned parole in place
of statutory release. According to The
National, which broke the story on Wednesday night, some critics have
derided the appointment by the federal Tories of a Conservative-led panel
as “a political ploy to tell the government what it wants to
hear.” The panel’s recommendations are criticized in the same
report as being symptomatic of the government’s “fixation with
prison-building instead of community supports.” Public Safety
Minister Stockwell Day is currently studying the findings.
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Tuesday 11 December 2007 OTTAWA: 'LOST CANADIANS' TO RECOVER CITIZENSHIP
The federal government has introduced legislation to grant Canadian citizenship to people who have lost it or never had it because of outdated regulations. Before the 1947 Citizenship Act, children born out of wedlock or children of a father who adopted a second nationality could be deprived of citizenship. The government says there are about 450 people in the situation, although other estimates put the figure in the thousands. Under the proposed legislation, citizenship would be restored to anyone born in Canada or who became a Canadian after Jan. 1, 1947, including war brides not already Canadian. Exceptions would include those who renounced Canadian citizenship or who obtained it by fraud.
In this double holiday issue, Nik Nanos presents the
results of an exclusive annual survey on The Mood of
Canada, conducted by SES Research; Hugh Segal reflects
on the Harper government; and Gil Troy kicks off the first
of an occasional series on The White House 2008. In the
Plus section, Chris Green weighs in on climate
change; L. Ian MacDonald rounds out the series on The
Charter@25; an excerpt from Richard Gwyn'sJohn A:
The Man Who Made Us and a review by Tasha Kheiriddin;
and much more.
Dec. 4 - Latest census figures show one in five Canadians was born outside the country and the percentage is growing steadily.
November 2007 Political participation and knowledge. In "Political Knowledge and Participation Among Young Canadians and Americans," Henry Milner compares survey data on civic literacy from the US and Canada. He finds that young Canadians’ political knowledge is low — only slightly higher than that of their American counterparts, and well below that of young Europeans.
DID YOU KNOW?
According to IRPP author Henry Milner, 56 percent of young
Americans, compared with 43 percent of young Canadians, are unable
to identify citizens as the category of people having the right to
vote.
So, the weather outside is frightful
But Wednesdays are delightful
Let the pundits trumpet our woes
While we review them in prose
And among the prose, but not prosaic, items, we suggest: Canada is [well] above average in reading and math according to the triennial Programme for International Student Assessment (Pisa)
Friday 30 November 2007 OTTAWA: STRONG DOLLAR TAKES TOLL ON TRADE BALANCE
The surging Canadian dollar has has a dramatic effect on the country's trade balance. Statistics Canada reports that the favourable balance fell from $5.3 billion in the second quarter to $1 billion in the third. The value of Canada's currency, presently valued at about parity with its U.S. counterpart, favours imports and has a negative impact on exports.
Tuesday 27 November 2007 OTTAWA, OSHAWA: GOVT. WALLOWS IN REVENUE
The federal finance department says the government is again running a huge budget surplus that could become a record. The department says the surplus for the first six months of the fiscal year amounts to $9.3 billion, and that the surplus in September alone came to $2.6 billion. The surplus is ballooning despite increased spending for programs. The government highest yearly surplus was $19.9 in 2000-2001. However, the department cautions that the latest figures don't reflect the tax cuts announced last month by Finance Minister Jim Flaherty. Speaking in Oshawa, ON, the minister said that while the budget is in surplus, business investment is expanding and unemployment is at a 33-year low, the strong Canadian dollar has hurt the manufacturers and exports considerably. Mr. Flaherty says he's willing to consider extending the two-year measure that allows manufacturers to write off investments in equipment.
Friday 23 November 2007 OTTAWA: QUARTERLY PROFITS BOUND
Statistics Canada reports that third-quarter profits amounted to $67 billion, a record. Oil and natural gas and the banking sector earned almost one-half of that amount. Oil and gas earned $8 billion, a four-quarter high and up 9.6 per cent from the preceding quarter. Financial industries earned $19.4 billion, up 6.2 from the second quarter. In manufacturing, motor vehicle and parts makers earned $600 million, six times more than in the previous quarter.
Friday 23 November 2007 OTTAWA: CHINA'S NEED OF OIL AND MINERALS FUELLING CANADA'S COMMODITY PRICES
The Bank of Canada says that China's thirst for oil and minerals will drive upwards world commodities for years to come and be a key factor in the global demand for Canadian commodities. The central bank's fall review notes that China's economy has been expanding by almost 10 per cent a year and there's no sign that that rate will decline. The bank's report on the subject says that in 2002 China bought 13 per cent of the world's production of metal ores, a figure which increased to 25 per cent only three years later. The Canadian economy has been powered by the rise of global commodity prices since 2002, the year when the Canadian dollar began its rise from below US70 cents to parity this year.
Friday 02 November 2007 WASHINGTON: CANADA WORST FOR MEDICAL WAIT TIMES
A new study reveals that Canadians wait the longest to see physicians or to receive elective surgery. The survey by the Commonwealth Fund shows that only 22 per cent of Canadians are able to get a same-day appointment with a doctor when they're sick and 30 per cent reported having to wait six days or more, the longest of the seven industrialized countries studied, five of them having universal health care. Fifteen per cent of Canadians said they had to wait six months or more for non-emergency surgery. And two-thirds said they had had trouble being treated at night, on weekends or holidays. Sixty per cent thought the health care system needs fundamental changes, with 12 per cent feeling it should be completely rebuilt. Federal Health Minister Tony Clement was on hand in Washington to receive the report and says that Canadians told the Commonwealth Fund the same thing that they're telling politicians, namely that access to doctors and services must improve. However, he also noted that the Canadians involved in the study have good access to care without extra payment. The Commonwealth Fund is a private charity the purpose of which is to promote high-performing health-care systems.
Thursday 01 November 2007 CANADA 13TH IN COMPETITIVITY
The World Economic Forum has ranked Canada 13th in economic competitivity out of 131 nations rated. The U.S. ranks first because of the efficiency of its markets, the sophistication of the American business community and its innovative capacity. Switzerland placed second.
Saturday 27 October 2007 OTTAWA: GOVT. REMAINS IN BLACK
The federal government says it ran a budget surplus of $911 million in August, almost twice the budget figure 12 months previous. The finance department attributes the surplus chiefly to higher revenue from the Goods and Services Tax and corporate income tax. The surplus for the first five months of the fiscal year is $8.6 billion, up more than 20 per cent from the corresponding earlier period. The Conservative government's fiscal position puts it in a good position to fulfil its promise to cut personal and corporate taxes. Finance Minister Jim Flaherty is to give an update on the government's finances next month but has discouraged speculation that he'll announce any tax cuts then.
Thursday 27 September 2007 rci OTTAWA: CANADIANS SAID FINANCIALLY UNINFORMED
A report says the Canadians are generally ignorant of basic notions of finance and that that ignorance is harming their financial security. The report by the Canadian Policy Research Networks says Canada lags far behind such countries as the U.S., the UK, Australia and New Zealand in creating policies and educational program to instruct consumers how to understand their own business. The document warns that almost all Canadians are involved in markets and therefore it's vital that they understanding their workings. The report says that this is all the more important in that fewer and fewer people have permanent jobs that provide defined pensions benefits. One of the document's recommendations is the development of a financial skills curriculum for schools, one of which exists only for 10th grade students in B.C. Another suggestion is that the federal government fund the creation of a website that offers impartial information about such subjects as mortgages, pensions, loans and insurance. The Canadian Police Research Networks is an Ottawa-based think tank that does research on social and economic policy.
Friday 14 September 2007 OTTAWA: WESTERN CITIES FOUND BOOMING
The Conference Board of Canada reports that the prosperity gap between the biggest western Canadian cities and the others is widening. The private researchers reached that conclusion in a study of the country's 13 biggest cities. The document shows that the seven most prosperous cities are in western Canada, the others being in the centre or east of the country. The researchers say Saskatoon, SK, will lead the country with an increase in gross domestic product of 4.7 per cent, followed by Calgary, AB, the hub of the oilpatch, with 4.4 per cent. The Conference Board says that Western Canada's economy is being powered by the energy sector, with firms investing hugely in the oilsands projects of northern Alberta, new oilfields in southern Saskatchewan and natural gas deposits in northeastern B.C. The report says that eastern cities like Toronto are operating below potential because the high Canadian dollar has hurt exports and caused the loss of thousands of jobs in the manufacturing sector, particularly Ontario's automobile industry.
Tuesday 11 September 2007 OTTAWA: FEDERAL DEBT RATING MAINTAINED
Moody's Investors Service has declared that Canada continues to deserve its top Aaa debt rating in the Service's annual report on the country. The report predicts that Canada will continue to benefit from high oil prices, noting that the unemployment rate is the lowest since the early 1970s, with inflation remaining low as well. Moody's also gives the federal government credit for using budget surpluses prudently by paying off the national debt, thus freeing up funds do deal with problems common to industrialized democracies, such as health care and the aging of the population. The agency says Canada's economy could suffer from the economic downturn in the U.S. but nonetheless predicts growth of 2.4 in 2007.
Saturday 01 September 2007 OTTAWA: GOVT. BROADENS INFORMATION LAW
Starting on Sept. 1, the federal Access to Information Law will begin to apply to seven more Crown corporations, including the Canadian Broadcasting Corp., Canada Post, Via Rail and Atomic Energy of Canada Ltd. Anyone may make a written request for information at a cost of $5. Previously, the seven federal corporations had been excluded from application of the law. Last year's Federal Accountability Act specifically protected trade secrets and confidential business information at Canada Post, Via Rail and Export Development Canada while allowing the release of "general administration" of the seven corporations. Critics have expressed doubts whether the change will make available much more information. John Reid, a former information commissioner, predicts that applicants won't obtain anything not contained in the annual report. David Gollob of the Canadian Newspaper Association says the net effect will be "insignificant" because there so many exemptions that will be broadly applied.
GROWING OLD, BY THE NUMBERS by Daniel Casey July 18, 2007
Upon yesterday's release of new Statscan census data on the age
structure of Canada’s population, the question was not whether or
not to transform the numbers into a flock of maps and tables, but just how
big those maps and tables should be. If today’s papers are any
indication, the country's graphic designers are sleeping late and letting
their exhausted Macs cool down today, after burning the midnight oil to
turn out colourful and positively enormous charts showing where our
demographics are headed. The
National, the
Globe, the
Star, the
Citizen and La
Presse front, while CTV
News and the
Post go inside with the news that the proportion of Canadians aged
sixty-five or older has reached a historic high of 17.7 percent. According
to the Post’s giant map, accompanied by the merest sliver of text,
Saskatchewan has the highest provincial proportion of elderly, at 15.4
percent, and booming Alberta the lowest, at 10.7 percent (the territories
all come in well under 10 percent—the cold does indeed get you, it
seems).
The media are good at giving us the numbers, but not as good at saying
what they mean. The National is particularly myopic, leading with a whole
series of segments that seem preoccupied with falling birth rates but
failing to connect this with other trends in the economy: a piece on the
costs of an increased number of retirees and elderly makes no mention of
the ongoing influx of immigrant workers, and a segment on the shortage of
skilled labour in Saskatchewan ignores the lure of well-paying jobs
available right next door in the Alberta tar sands. The Star takes a
largely local Toronto angle, contrasting the
various neighbourhoods of the metropolis (though giving us a bit of analysis as
well). The Citizen plays it as a series of regional differences, noting
the rapidly-aging
Atlantic provinces, Alberta’s gender
imbalance, and Kelowna’s herds
of retirees. The Globe takes the broadest view, looking at the impacts
on universities,
the difficulty
faced by the elderly in getting around suburban sprawl, the cultural
shifts that accompany longer lifespans, and what
this will mean for the economy in ten years. The Citizen’s analysis
piece and the Globe’s front-page
article are perhaps the best overall summaries, on a day when there are
lots of loose data and human-interest stories floating around. Both make
the same basic points: it will take more than increased immigration and
looser retirement rules to keep Canada’s economy growing, and
increasing the productivity of the workforce is still our key challenge
regardless of how old we are or where we were born.
Wednesday 18 July 2007 OTTAWA: ERAGE AGE OLDER
The results of a 2006 Canada census indicate that the country's population as a whole is aging. The census shows that for the first time in the nation's history there are more than four million Canadians aged 65 or older and that about one in seven Canadians consequently is a senior. Fifty years ago just one in 13 Canadians were seniors. The report warns that the aging population will soon create major challenges to the country's workforce. Statistics Canada is predicting that 10 years from now there will not be enough new workers to replace retirees. Meanwhile, the proportion of children in Canada has never been lower: just 17.7 per cent of the population is made up of children 14 and under. At the height of the baby boom in 1961, about one-third of Canadians were children. Canada's population is approximately 33 million.
Sat 07/07/2007 OTTAWA: ECONOMY ADDS JOBS
More Canadians were working in June as the Canadian economy revived from a two-month downturn to create 35,000 new jobs. But the employment rate held steady for the fifth straight month at 6.1 per cent, as there were also more Canadians actively looking for work. Statistics Canada says all the new jobs were full-time and mostly among adult women. The biggest gains came in retail and wholesale trade. Statistics Canada says the economy added 197,000 new jobs in the first six months of the year, a 1.2 -per cent gain from a year earlier.
Monday 02 July 2007 239,100 jobs `gone for good'
OTTAWA–An average of 190 good-paying manufacturing jobs are disappearing in Canada every day – most of them in Ontario.
Monday Jul 2, 2007 68% of Canadians say: United we'll stand
When Canadians were recently asked whether they're hopeful about the future state of Quebec's relationship...
The
question: Looking ahead to the year 2017, are you optimistic or
pessimistic about relations between Quebec and the rest of Canada?
Percentage of optimists:
Canada - 68 per cent
Atlantic Canada - 74 per cent
Prairies - 72 per cent
Ontario - 71 per cent
B.C. - 69 per cent
Quebec - 65 per cent
Alberta - 55 per cent
Saturday Jun 30, 2007 rci OTTAWA: CANADIANS FLUNK IN HISTORY
A new survey shows that many Canadians are ignorant of the basic facts about their country. The survey by the Ipsos-Reid polling agency found that six out of 10 Canadians would fail the knowledge test given to new immigrants seeking citizenship. Only one in three respondents knew the number of Canada's provinces and territories, and fewer than one in 20 knew that Queen Elizabeth is Canada's head of state. The survey was ordered by the Dominion Institute, an organization that aims to increase peoples' knowledge of Canada's history and culture. The Dominion Institute expressed disappointment at the survey's results, saying that it reflects poorly on efforts to improve civic literacy during the past decade. | Canada Day 2007
Wednesday 20 June 2007 OTTAWA: INFLATION STEADY
Statistics Canada reports that the inflation rate in May remained at 2.2 per cent, down from 2.5 per cent in April. The agency says that although homeowners' costs and gasoline cost more, the increase was offset by lower natural gas prices. The highest inflation rate was recorded in Alberta at five percent. The Bank of Canada prefers that inflation not rise above two per cent but it has been higher in every month since last July
Saturday 16 June 2007 OTTAWA: AGING TO REDUCE CANADIAN WORKFORCE
The number of Canadians participating in the economy will start to shrink as baby boomers start to retire in a few years time. And, according to one of the authors of a new study, nothing, including more immigration, will change the reality. Laurent Martel, of Statistics Canada, said Canada has to prepare for a future where the number of people working will be fewer. He stressed that more immigration is not a solution. Based on current population and labour trends, the proportion of the population over 15 years of age that will be working in 2031 will be down to 58 per cent, as opposed to 67 per cent today. As well, there will be only two workers for every retired person, as opposed to four to one today
Friday 08 June 2007 Jobless rate remains at 33-year low
Economy creates 9,300 jobs, a bit short of forecasts, though central bank still seen raising rates; British Columbia leads growth
Sunday 27 May 2007 Canada’s demography is changing fast
Canada’s demographic make-up is in the throes of profound changes that could have significant long-term political and economic implications. Initial results of the 2006 census, published by Statistics Canada (the national statistical agency) in mid-Nicholas Hoareh, show that immigration now contributes the bulk of Canada’s population growth. The data also underline the westward shift of Canada’s economic and political centre of gravity, and show a continuing shift from rural to urban areas, especially to the suburbs around Toronto, Montreal and Vancouver.
According to the census, Canada’s total population stood at 31.6m in mid-2006, up by 5.4% since the previous census in 2001, representing the highest growth rate among major industrial countries. Immigration accounted for 66% of the increase, compared with 58% in the previous census period (1996 to 2001).
rci 25 may TORONTO: CANADIAN EXECS SAID LESS EDUCATED
A study by researchers at the University of Toronto concludes that Canada lags behind the U.S. in productivity and innovation because the heads of Canadian enterprises are less educated than their American counterparts. The researchers found that about 30 per cent of Canadian managers have earned a university degree compared with almost 50 per cent south of the border. The study attributes to gap to the fact that Canada doesn't provide adequate management training courses. The researchers conclude that the more executives are educated, the more they'll promote research and innovation and therefore necessarily increase productivity and innovation at their companies.
Friday 11 May 2007 Canada to launch no-fly list in June
OTTAWA–A Canadian "no-fly" list of people to be barred from boarding domestic and international airline flights is set to take effect June 18, just as the busy summer flying season gets underway. ...If a name is red-flagged as a possible match with a name on the no-fly list, the traveller will be directed to a flight agent, who will contact Transport Canada for a decision on whether to allow boarding. Airlines are responsible for protecting the passenger's confidentiality.>br>Critics say the plan will not make air travel safer, and will likely lead to the kinds of "false positive" identification of people that has plagued a similar list in the United States. The most celebrated example involved Massachusetts Senator Ted Kennedy, who was barred from boarding a flight when he was wrongly identified as being on the list. Infants have also been banned.
As well, critics worry that it will prove almost impossible for those wrongly included to have their names removed from the list.
Stephen S. Poloz VP EDC Economics Weekly Commentary Canada Losing Ground in Trade - Nicholas Hoareh 28, 2007
The importance of trade to Canadian prosperity has increased a lot in the past 40 years. Since the dawn of the new millennium, though, Canada has been losing ground in the trade domain.
Canada?s total exports of goods and services were worth $524 billion in 2006, of which $459 billion were goods and $65 billion in services. This was an increase of only 1% over 2005, after growth of 5.1% in 2005 and 7.1% in the boom year, 2004. 2006 was slow, it is true, but it is worth recalling that Canada?s exports saw an extended period of decline just a few years ago: during 2001-2003, Canada?s exports fell outright three years in a row, cumulatively by about 6%. Past issues | his WN page
Commentary podcast.
Canada's latest head count We have been growing over the first half of this decade at a more rapid
clip than over the previous half decade, and faster than any of the
other major industrial nations including the U.S., according to
Statistics Canada's latest head count.
Stephen S. Poloz VP EDC Economics Weekly Commentary Exports More Diversified in 2006 - Nicholas Hoareh 7, 2007
The final numbers are now in for Canada?s trade in 2006. Many exporters will remember 2006 as a tough year, but there are some rays of sunshine between those clouds.
Canada?s total exports of goods and services were worth $524 billion in 2006, of which $459 billion were goods and $65 billion in services. This was an increase of only 1% over 2005, after growth of 5.1% in 2005 and 7.1% in the boom year, 2004. 2006 was slow, it is true, but it is worth recalling that Canada?s exports saw an extended period of decline just a few years ago: during 2001-2003, Canada?s exports fell outright three years in a row, cumulatively by about 6%. Past issues | his WN page
Commentary podcast.
Monday 15 January 2007 TORONTO: POLL SHOWS CANADIANS FAVOUR ENVIRONMENT ACTION
A new opinion poll suggests that Canadians are ready to do more to have a better environment. The poll by Decima Research asked whether respondents would prefer a one-thousand-dollar tax cut for everyone or a similar tax cut just for households that take action to promote a cleaner environment. The poll found that 51 per cent favoured the cleaner environment option. Only 28 per cent preferred an unqualified tax cut.
Wednesday 03 January 2007 Chinese immigrants to Canada are sending their babies back to China to be raised by grandparents because of the high cost of daycare in Canada. Florence Wong, a Toronto social worker, found that as many as 70 per cent of women in five pre-natal classes in 2002 were planning to send their children back to China. Most of the cases involve professionals in their 30s who emigrated to Canada in the hope of finding well-paying jobs in their fields. Many, however, ended up settling for minimum wage jobs and, therefore, could not afford the cost of daily care for their children. Although some Canadian provinces subsidize daycare, there is no national daycare program. It's believed the failure by Chinese immigrants to find well-paying jobs in their professions has led to a decline in applications to emigrate to Canada.
UNDATED: CANADA-CHINA FERTILITY RESEARCH
Medical scientists from Canada and China are beginning research projects on human fertility this month. Looking into why a woman can't conceive can provide information on facilitating pregnancy, as well as preventing it. The findings will be of interest to both countries. Canada has a declining birth-rate and a growing industry dealing with problems of infertility. For its part, China has a one-child policy. Canadian and Chinese governments, universities and research institutes are supporting the scientific work.
TORONTO: DEBIT CARD USE SETS RECORD
Canadians were using their debit cards at a furious pace on the last two shopping days before Christmas. Interac says it set a record with 31.2 million transactions processed December 22nd and 23rd - eclipsing last year's record total by one million transactions. Tina Romano of the Interac Association says the holiday season is typically busy, but this year was unique with the busiest day of the year coming two days before Christmas. Interac says there are more than 35 million debit cards in circulation in Canada, accounting for more than three billion transactions in 2005. The Interac Association is composed of banks and other financial institutions and handles shared electronic financial services.
Fri 22/12/2006 ALBERTA RECORDS BOUNDING DEMOGRAPHIC GROWTH
Statistics Canada reports that the population of the western province of Alberta increased by more than one per cent in the third quarter of the year, standing on Oct. 1 at 3,413,500. Alberta's population thus grew at a faster rate than in any quarter in the past quarter of a century. Fuelled by its booming energy sector, the province is experiencing the most intense period of economic growth for a province in Canadian history, according to a study in the Canadian Economic Observer. StatsCan also reports that migratory losses to Alberta from Ontario and Quebec have tripled over the past year. The agency says that Ontario's net demographic growth would have been negative were it not for immigration from abroad. Ontario attracts more immigrants than any other province.
Thursday 21 December 2006 FINGER POINTED AT CANADA FOR SEX TRADE
An international report says Canada is a growing destination for sex tourism. It says men from other countries are coming to the country to take advantage of Canada's relatively low age of sexual consent of 14. The report was prepared by a Bangkok-based child's advocacy group meant to assess how well 122 countries have implemented the measures they signed onto 10 years ago in Stockholm to prevent child sexual abuse. Canada's Justice Minister Vic Toews has reacted to the report, saying the Conservative government is trying to pass changes to the Criminal Code that would raise the age of consent from 14 to 16 years. Mr. Toews also wants changes that would allow Canada to prosecute pedophiles who come to Canada for sex tourism.
OTTAWA: INFLATION UP
Canada's annual inflation rate rose half a percentage point in November to 1.4 per cent. It's the first time in three months the figure has exceeded one per cent. The reason for the increase was higher costs for mortgages and home repairs.
Thursday 21 December 2006 OTTAWA: LIFE EXPECTANCY IMPROVES
Statistics Canada reports that life expectancy in the country continues to rise. The agency says that the life expectancy of a child born in 2004 exceeds for the first time 80 years, with women continuing to live longer. The latter's expectancy was more than 82, while men's was almost 78. However, the data shows that while women live longer, the gap between the sexes has been narrowing since 1979, men's life expectancy having increased by six years since then.
Friday 15 December 2006 OTTAWA: INDUSTRY CAPACITY RUNNING LOWER
Statistics Canada reports that industry ran at only 84.2 per cent of capacity in the third quarter, its lowest level in three years. The agency explains the figure as due to the slowdown in demand for automotive products and a slower residential construction market, which didn't counterbalance higher exports. StatsCan says capacity rates were down in manufacturing, forestry, logging, construction and electrical power. On the brighter side, the agency says mining and oil and gas extraction were up, with mining benefiting particularly from strong demand from China.
Having improved in 2002, Canada's economy was sorely tested the next year by the SARS outbreak, mad-cow disease and a soaring Canadian dollar that lowered American demand for exports. But it is now performing well, driven by a demand for dowdy commodities that is reshaping the country's economy. Some worried that a spending splurge by the Liberals in 2005 would jeopardise the economy. But for now, Canada is booming—buoyed by energy and commodity prices, its trade surplus reached near-record levels in 2004. The new Conservative government must reform immigration rules to help fill a labour shortage. In October 2006 the government cracked down on income trusts, which companies have used to dodge taxes.
Sunday 26 November 2006 Norway fourth best democracy
Norway and the Nordic region are very highly ranked by the latest ratings from the Economist Intelligence Unit Index of Democracy.
Canada ranked 9th., the USA (17th) and Britain (23rd)
OTTAWA: FARM INCOME DOWN
Canadian farmers' income fell last year because of drought and the adverse fallout from the outbreak of mad cow disease. Statistics Canada reports the income was on average 16 per cent lower than in the five previous years. Farmers in British Columbia and Alberta are said to have suffered the greatest losses.
NO PROGRESS REPORTED ON CHILD POVERTY
The Campaign 2000 lobby reports that child poverty has now been endemic in Canada for the past quarter-century and that its prevalence has remained unchanged in the last five years. According to Campaign 2000, no province has succeeded in lowering the incidence of the phenomenon below 10 per cent. Its document claims that 1.2 million children, or one in six, are poor An even higher rate is noted in in native communities, while almost one-half of children whose families immigrated to Canada since 2001 are in the same case, as well as more than one-third of the children of visible minorities. The main objective of Campaign 2000 is to demand the respect of a resolution adopted by all the political parties in the House of Commons in 1989 to eradicate poverty among the nation's children.
Sunday 26 November 2006 Statistics Canada reports that Canadians in 2005 made almost $8 billion in charitable donations, a record. The figure was 14 per cent higher than that of 2004. The agency says Ontario provided $3.8 of the amount, followed by Alberta with $1.2 billion, British Columbia with $1.1 billion and Quebec with $738 million. On the individual level, six million of the 32 million Canadians made donations.
Thursday 16 November 2006 OTTAWA: GOVT. CONTINUES IN THE BLACK
The Canadian government says it has had a budget surplus of $5.3 billion in the first half of the fiscal year that started in April. The department says the figure is $400 million higher than in the previous first half, and is ahead of the pace in the previous fiscal year which ended with a surplus of $13.2 billion. Before forming the government after the national election in January, the Conservative Party had long criticized Liberal governments for allegedly deliberately underestimating its budget surpluses and then producing triumphal budget statements at the end of the fiscal year.
Saturday 04 November 2006 rci WASHINGTON: CANADA LAGS IN HEALTH CARE
An international medical study of Canada and six other industrial nations indicates that Canada lags in many areas of primary health care. Canada's score in many areas trails those of the other countries, except the U.S. The other countries studied are Britain, the Netherlands, New Zealand, Australia and Germany. The data show that only 23 per cent of Canadian doctors use electronic medical records, compared with 98 per cent in the Netherlands. As well, most Canadian physicians don't use computers to prescribe medications to access test results or hospital records. More than one-half of Canadian doctors report long waiting times for patients to undergo diagnostic tests. And only 47 per cent of physicians have arrangements for after-hours treatment to avoid the need for patients to visit an emergency room, compared with 95 per cent in the Netherlands.
rci Canada's unemployment rate is down. Statistics Canada says the national jobless rate last month was 6.2 per cent, down from September's level of 6.4. The agency says the economy produced a net gain of 51,000 jobs, largely because of the energy boom in the western Canadian provinces.Twenty-three-thousand new jobs were created in the oil-rich province of Alberta alone.
Friday 27 October 2006 OTTAWA: POPULATION ON AVERAGE OLDER
The median age of Canadians reached a record high this summer: just under 39 years of age, a year-and-a-half older than the median age five years ago. The rise is mainly due to the large number of older people in the four Atlantic provinces and in the provinces of Quebec and British Columbia. Canadians are younger on average in Ontario, in the three Prairie provinces and in the northern territories. Canada's post-war generation started turning 60 this year at a rate of 1,100 people a day. But Canada's median age is still third-lowest among the Group of Eight industrialized nations, behind the United States and Russia.
OTTAWA: CANADIAN SECURITY AGENTS OPERATE OVERSEAS
The head of the Canadian Security Intelligence Service (CSIS) says that his agents are operating in Afghanistan, Iraq and Lebanon. The statement by Jim Judd is the first time that the Service has identified countries in which it's been operating. Speaking in Ottawa on Friday to the Canadian Association for Security and Intelligence Studies, Mr. Judd said that his agency has to strengthen its capacity to work abroad because of foreign threatens. A report on Saturday in a Toronto newspaper, the National Post, said that an al-Qaeda operative had posted a warning to Canada on the Internet, saying that Canada should withdraw its troops from Afghanistan or face the consequences. But Mr. Judd also mentioned CSIS's role in transferring Canadian citizens out of Lebanon during the recent conflict there. CSIS was formed in 1984 as a domestic intelligence agency that relied on information from larger partners such as the U.S. CIA. The Conservative Party government is considering forming a new foreign intelligence service. Observers say that Mr. Judd's remarks were aimed at carving a niche for his agency within a new service. Mr. Judd's comments were reported by the Globe & Mail newspaper.
UNITED NATIONS: CANADA CRITICIZED OVER YOUTH EDUCATION
A new report by the United Nations says countries around the world, including Canada, need to make early childhood education a higher priority. The annual UN report on education says the majority of countries often ignores the importance of childhood education. The co-director of the Consultative Group on Early Childhood Care and Development, Louise Zimanyi, says Canada's record in childhood education is particularly poor given the vast resources available throughout the country. She says Canada lacks a cohesive early childhood policy. The report emphasizes that strong early childhood care policies stand to benefit countries in the long run by improving prospects for disadvantaged children and strengthening the quality of the adult population.
Friday 13 October 2006 OTTAWA: TRADE BALANCE IMPROVES
Statistics Canada reports that the country trade surplus improved in August. The agency says it increased by eight per cent, standing at $4.2 billion. In July the surplus had shrunk to 3.9 per cent compared with the previous month. The latest figures show strong trade of industrial goods, with the automobile sector showing particular strength. The trade balance with the U.S. revealed a $8.2 billion surplus, while the deficit with the EU increased by 23 per cent to $1 billion.
OTTAWA: NUMBER OF BANKRUPTCIES DOWN
Statistics Canada reports that number of bankruptcies last year declined to a 25-year low. The federal agency says that 7,300 firms went bankrupt, or about seven companies for every 1,000. However, the average loss from bankruptcy is rising, the figure for 2002 being more than $6.6 billion.
Wednesday Sep 27, 2006 Canada slides to 16th place in world competitiveness index
Canada slipped three places in the global competitiveness... rci According to the yearly competivity rankings established by the World Economic Forum of Davos, Canada has slipped, ranking 16th, down from 14th in the previous year. Switzerland finished first, followed by Finland and Sweden. The U.S. ranked second last year but fell to sixth this year, the evaluators explaining that that country's huge military effort and expenses for homeland security have led to a worsening of its economic perspectives.
Peter Koven, Financial Post
Published: Wednesday, September 27, 2006
Canada slipped three places in the global competitiveness rankings
for 2006 as other countries did more to improve infrastructure, market
efficiency and innovation.
The Global Competitiveness Report
2006-2007, released yesterday by the World Economic Forum, ranked
Canada 16th in the world in terms of competitiveness, down from 13th a
year ago. Canada was passed by Hong Kong, Norway, Iceland and Israel.
"It's
nothing startling. It's a continuation of an ongoing trend," said James
Milway, executive director of the Institute for Competitiveness and
Prosperity, the Canadian partner to the World Economic Forum. "In terms
of business competitiveness, Canada is drifting in that we are not
setting an environment that forces businesses to be as competitive as
they can be."
The global report ranks countries in three
different sub-indexes to reach the final ranking: basic requirements
[including infrastructure and education]; efficiency enhancers; and
innovation factors. Canada's ranking fell in the first two indexes and
was unchanged in the third.
According to the institute, Canada
has to do a lot more to live up to its economic potential. A good way
to start would be to set out a fresh prosperity agenda, Mr. Milway said.
"If
you look at the five priorities of the current federal government,
there's nothing in there tied to competitiveness and prosperity," he
said.
He pointed to high taxes on business investment and
inadequate post-secondary education as two key reasons why Canada is
lagging other countries. Another big factor is a business environment
that doesn't encourage enough competition.
"I have every
confidence that Canadians companies have the brainpower and materials
to [compete more], but I don't think anyone does more than their
environment demands," he said.
There are signs that the
competitive environment in Canada is improving. Mr. Milway points to
increased public spending on universities and a government plan to
pursue more competition in the telecom sector as two recent examples.
The
highest-ranked country this year was Switzerland, which jumped from
fourth to first. The United States, which came first last year, fell
all the way to sixth.
The report states that U.S. competitiveness
"is threatened by large macroeconomic imbalances, particularly rising
levels of public indebtedness associated with repeated fiscal deficits."
WHY SWITZERLAND IS NUMBER ONE
Global competitiveness rankings dethrone U.S. from top spot; Canada lags
1. SWITZERLAND CLIMBED
- Reputation for innovation, research and development
- Scientific infrastructure
- Intellectual property safeguards
- Excellent education and training
6. UNITED STATES FELL
- Budget and trade deficits
- Doubts about the effectiveness and trustworthiness of its political leaders
Monday 11 September 2006 CANADA GETS GOOD BUSINESS REPORT CARD
In an annual report, the World Bank has rated Canada fourth of 175 nations where its easy or hard to do business. Singapore has dethroned New Zealand from first spot on the list from last year, the latter country assuming second place. The U.S. remains in third, with Hong Kong in fifth place. The World Bank makes its evaluation in function of laws and regulations applied to investments, such as registration of a new company or the obtaining of operating permits. China is 93rd on the list and India 134th.
The Canadian government agency Statistics Canada says the country's unemployment rate rose to 6.5 per cent in August from 6.4 per cent in July. Continuing losses in the manufacturing sector are playing a role in the loss of jobs. However, Canadian workers continue to benefit from higher wages. Salaries were 3.7 per cent higher last month, compared with the same time a year ago.
July 28, 2006 iedm Canada 2020: Regulation Nation
Welcome to Canada, 2020, otherwise known as Regulation Nation. A place where individual liberties are a thing of the past. A country where, in the name of the collective good, bad habits have been disallowed, or made so difficult to practice that people simply give them up. Article by Tasha Kheiriddin, Executive Vice President of the MEI, published on July 28 on
www.twenty-twenty.ca.
Monday 14 August 2006 Canada failing world's poor, report says
Canada has a mediocre record on helping the world's poor, thanks in part to its weapons sales to Saudi Arabia and miserly foreign aid, says an exhaustive ranking released yesterday.
Friday 11 August 2006 rci Statistics Canada reports that Canada's trade surplus rose by almost 15 per cent to $4.7 billion in June. The agency says exports grew by one per cent to $37.6 billion, chiefly because of increases in energy exports and industrial goods. The surplus with the U.S. stood at $8.2 billion in June. Canada's surplus for the year so far is almost $30 billion, up more than $3 billion from the same period of last year.
Tue 01/08/2006 rci Statistics Canada reports that young Canadians are living longer at home with their parents. The federal agency says 41 per cent of young adults between the ages of 20 and 29 continue to live at home. More than one-half of their parents, the original baby boomers, left home before the age of 22. StatsCan attributes the changed behaviour to the decline of stable, well-paid jobs, a reduction of incentive to leave home.
Tuesday 01 August 2006 13:18 Canadian GDP stagnant
Statistic Canada releases May gross domestic product numbers; economy unchanged from April 31/07/06
Tuesday 01 August 2006 Statistics Canada reports that the country's birthrate continues to drop. The agency says there were 10.5 births per thousand residents in 2004, a decrease of .1 per cent from the previous year. StatsCan also reports, however, that there were 337,000 births in 2004, and increase of 1,870 over 2003. Births were most numerous in Nova Scotia, Quebec, Ontario, Alberta and Yukon territory. The birthrate was lowest in the eastern province of Newfoundland and Labrador, where it has fallen by one-half over the past 20 years.
rci OTTAWA: AIDS INFECTIONS UP
The Public Health Agency of Canada reports that numbers of people with HIV/AIDS increased by 8,000 in 2005 to 58,000 from the 2002 figure, or about .2 per cent of the population. The agency's report on the subject notes that many of those affected are unaware of that fact. The document says that several social groups, including women, prisoners and natives, continue to be vulnerable. Dr. Frank Plummer of the agency says that the numbers of Canadians living with AIDS will likely continue to increase as new infection rates continue and survival rates improve. Next month, Toronto will be the host of an international conference on AIDS.
Fri 28/07/2006 CALGARY: BLOOD SUPPLY JEOPARDIZED Canada's blood supply agency says it may face a crisis in the future. Canadian Blood Services says only 3.7 per cent of the population donates blood. And the agency says current donors are getting older and will not be able to keep donating forever. The agency says more efforts have to be made to attract new donors. A psychology professor at the University of Calgary in the province of Alberta says the reason Canadians are not giving blood is likely a fear of both blood and needles
Mon 10/07/2006 rci OTTAWA: 'FISCAL IMBALANCE' BLAMED ON PROVINCES
A report on Canada's fiscal situation says the provinces should blame themselves for their current fiscal shortfalls not the federal government. That's the conclusion of the Canadian Centre for Policy Alternatives, a left-leaning research group. The provinces have long complained that Ottawa's budget reductions are responsible for their difficulties in funding social programs. But the researchers conclude that the provinces are themselves responsible by competing with each other in provincial tax cuts starting in the mid-1990s. The report says the provincial governments tried to mitigate the effects of the federal budget reductions by cutting their own contributions to municipalities by similar amounts. The researchers say no province wants to be the first to raise taxes when mobile individuals and companies are prepared to depart to a province with lower tax rates. The documents suggests several remedies, including an inter-provincial tax treaty providing a fiscal floor and the creation of a federal tax a fixed percentage of which would be earmarked for the provinces.
Thu 06/07/2006 rci Statistics Canada says many Canadians have a poor diet, basing that finding on the results of a survey of the eating habits of 35,000 people in 2004. The preliminary findings of the study show that more than one-third of Canadians are getting their daily calorie requirement from fats. The last such systemic alimentary study in the 1970s put the figure at 40 per cent. The survey also found that many Canadians get more calories from snacks than breakfast. And it says more than one-third of children aged between four and nine don't get the recommended two servings a day of such dairy products as milk, yogurt and cheese.
Tuesday Jul 18, 2006 The baby boomers' tab Just after the Second World War, from 1945 to 1960, there were about 28 births on average per 1,000 people in Canada: these were the children of the baby boom. But these baby boomers did not have many children of their own, and they did not have many grandchildren, either. By 1970, the birth rate in Canada had dropped to 17 births per 1,000 people. Since 2000, it has been hovering around 11 births per 1,000 Canadians.
Thursday Jun 22, 2006 rci CANADIAN SPY AGENCY HAS MORE AGENTS ABROAD THAN EVER
Canada's spy agency says it now has more people than ever working abroad. The director of the Canadian Security Intelligence Service, Jim Judd, told a Senate committee on Monday that in addition to the number of employees posted overseas being at an all-time high, there are also a number of CSIS employees working on a part-time basis in pursuit of particular cases or investigations. Experts say Mr Judd's comment reflect the international dimension of today's security threats. Seventeen alleged terrorists recently arrested in southern Ontario reportedly had ties to the United States, the United Kingdom and several other countries.
Thursday Jun 15, 2006 rci Statistics Canada reports that the diamond exports from the Northwest Territories have grown almost three times from the first year of production in 1999. The agency says that the exports have surged to such a point that Canada was third in the world in diamond exports in 2004. StatsCan says the exports were worth $1.7 billion in 2005. According to the agency, only Russia and Botswana are exports more of the commodity.
Tuesday Jun 13, 2006 Jobless rate nears 32-year low
Whopping 96,700 new jobs added in May, far more than forecasts, driving rate to lowest since Dec., 1974 The rate unexpectedly tumbled to 6.1 per cent from 6.4 per cent as a jump in full-time jobs outweighed a drop in part-time positions, Statistics Canada said Friday.
“Wow,” said Douglas Porter, deputy chief economist at BMO Nesbitt Burns Inc., in a note. “Overall, this is wall-to-wall strength.”
The massive job gains also sent employment to a record high last month, at 63.2 per cent. Over the first five months of the year, employment has increased by 1.4 per cent. May's job gains matched a record reached in January 2002.
Statistics Canada reports that labour productivity rose by .5 per cent in the first quarter, while at the same time labour costs rose by only .3 per cent. The agency says unit labour costs slowed for the first time in more than one year. Growth of Canada's Gross Domestic Policy has now exceeded that of hours worked in every quarter since the third of 2004. However, Canada's improved productivity still trails that of the U.S., where the first-quarter improvement came to one per cent.
Sunday Jun 4, 2006 RCI UNDATED: CANADIANS HEALTHIER THAN AMERICANS
A study published in the American Journal of Public Health by the Harvard University school of medicine claims that Canadians are in better health on average than Americans. According to the study, Americans are more likely to suffer from diabetes, hypertension and arthritis. The co-author, Dr. Steffie Woolhandler, attributes the differences in part to Canada's medicare system. The research also shows that 21 per cent of Americans are obese, compared with 15 per cent of Canadians. bUT SEE Toxic chemicals
Thursday Jun 1, 2006 ts Why Canada ranks high in days lost to strikes
The illegal strike that shut down Toronto's sprawling transit system was an anomaly in that it lasted less than a day. Canadian strikes tend to run long — to the point of Canada ranking among the top countries in the world for time lost to work stoppages.
Thursday Jun 1, 2006 OTTAWA: INDUSTRY CALLED MORE PRODUCTIVE
The governor of the Bank of Canada, David Dodge, says Canadian manufacturers have improved the productivity of their enterprises. Mr. Dodge has told Parliament's industry committee that manufacturers have made progress despite manpower shortages, the high Canadian dollar and competition from Asia, and that the Canadian economy is becoming more apt to face such competition. Mr. Dodge also noted that Canadian businesses have used the high value of the currency to modernize their equipment.
Saturday May 20, 2006 rci Statistics Canada reports that retail sales rose by 1.5 per cent in Nicholas Hoareh, double the rate which economists had predicted, completing a successful first quarter for the sector. The agency said over the previous 12 months sales increased by 8.2 per cent, totally $32.1 billion. Sales of cars and trucks were particularly strong. The announcement increases the likelihood that the Bank of Canada will increase its trend-setting lending rate next Wednesday.
Saturday May 13, 2006 Statistics Canada has announced that the country's trade surplus was $5.1 billion in Nicholas Hoareh, down from $5.9 billion in the previous month. StatsCan says import grew three times faster than exports. The chief factor on both sides is the stronger Canadian dollar, which closed at 90.14 US on Friday, after reaching a 28-year high of 90.95 US on Wednesday. The agency says the trend is unlikely to change in the near future because of the continuing surge of the Canadian currency.
Monday May 1, 2006 rci Statistics Canada reports that the Canadian economy grew by a "modest" .2 per cent in February, the same rate as January's. The latest result corresponds with economists' predictions. StatsCan says the economy was boosted by strength in wholesale sales and solid performance by utilities, which was however offset by drops in mining, oil and gas extraction and manufacturing.
Friday Apr 28, 2006 rci OTTAWA: CENTRAL BANK SEES CONTINUED STRONG GROWTH
The Bank of Canada has predicted continuing robust economic growth in both Canada and the U.S. In its latest monetary policy report, the central bank forecasts growth of 3.1 per cent this year and 3 per cent for 2007, up slightly from its previous prediction for that year. The bank says the pace will slow slightly in 2008 to 2.9 per cent. The bank predicates its predictions on a global hunger for Canadian resources and strong domestic demand. However, the central bank says further interest rate rises may be needed to ward off inflation. On Tuesday, the bank raised its trend-setting lending rate by one-quarter of a point to four per cent, its sixth straight quarter-point increase. As for the U.S., Canada's biggest trading partner, it sees 3.5-per cent growth this year, 3.2 per cent in the next and 3.1 per cent in 2008.
OTTAWA: POPULATION TO REACH 33 MILLION
Statistics Canada predicts that the result of this year's census will show that the population of the country will have reached 33 million. StatsCan began the census process last Thursday. The agency's questionnaire will be sent to 13.5 million households next week to update the findings of the last census in 2001. Respondents will be able to answer it for the first time on the Internet. see wn popluation
Friday Apr 28, 2006 StatsCan expects rise in 2006 census The population of Canada will approach 33 million in the coming year, according to Statistics Canada, which began its 2006 census in Quebec on Thursday.
Saturday WN MOHAWK SOLIDARITY1/KAHNAWAKE QUEBEC/APRIL 20,2006---The flags of the Mohawk Warrior Society fly briskly over the Mercier Bridge, leading to the Mohawk community of Kahnawake, and Chateauguay. The flags were erected this morning to show solidarity with the native blockade at Caledonia, Ontario, which was confronted by the OPP earlier today. Barricades are ready to be put up and manned, in Kahnawake should the police force confront the Caladonia blockade again. (Str pic by Robert J. Galbraith) rjg
Saturday Apr 22, 2006 rci Statistics Canada report that inflation in Nicholas Hoareh stood at 2.2 per cent, the same figure as for February. But analysts cited by the Canadian Press warn that the inflation rate is sure to rise because of burgeoning gasoline prices, which in Nicholas Hoareh were 7.4 per cent higher than a year previous. The analysts say the latest inflation figure makes it almost certain that the Bank of Canada will raise its trend-setting interest rate by one-quarter of a point to four per cent next Tuesday.
Saturday Apr 22, 2006 nyt Mad Cow Case Is Found in Canada Canada on Sunday confirmed a case of mad cow disease at a farm in British Columbia. It is the country's fifth reported case since May 2003, when the United States closed its border to Canadian beef after sick cows had been found in Canada. more Mad-Cow on wn
Monday Apr 10, 2006 ts Canada's jobless rate drops to 6.3 per cent
When a labour dispute brought her courses as Humber College to a grinding halt, Diana Dickson figured she might as well make the most of the situation and get a full-time job.
Apr 7, 2006 RCI Canada's trade minister, David Emerson, has welcomed a ruling by the United States Court of International Trade that prevents the U.S. government from distributing punitive tariffs imposed on Canadian imports to American firms that bring litigation against their Canadian competitors, an action permitted under the "Byrd amendment." However, Mr. Emerson also notes that while the ruling prevent the American litigators from receiving the revenue from the tariffs, it doesn't prevent the U.S. government from collecting them. Canada's lumber industry and the Canadian government have been clamouring for the return of the more than $5 billion that has been imposed in tariffs on Canadian imported softwood lumber.
RCI A committee of American legislators has named China and Canada as among the top six countries guilty of flooding the world with pirated intellectual property. The bipartisan Congressional Anti-Piracy Caucus also names Russia, Mexico, India and Malaysia as being the source of illegal copies of films, CDs and software. Their report says the piracy situation deteriorated in Canada in 2005, with camcorders being used to make illegal copies of movies which are then sold around the world on DVDs. The report also complains that lax security at Canada's borders allows pirated intellectual property to enter the country easily. The legislators call on the Canadian government to toughen the penalties for such activity.
Monday Apr 10, 2006 rci Canada's jobless rate is at its lowest level since 1974. Statistics Canada reports that the unemployment rate in Nicholas Hoareh was 6.3 per cent, .01 of a point lower than in the previous month. The federal data gatherer says 50,500 new jobs were created last month and that most of them were full-time. Many of the new jobs were created in the provinces of Alberta and British Columbia. The news leads to the possibility that the Bank of Canada will raise its trend-setting interest rate to check possible inflation. The next date for such a change is April 25. The rate stands now at 3.75 per cent.
Sunday Mar 26, 2006 rci Canada's finance department reports that the government has recorded a surplus of $9 billion for the first 10 months of the fiscal year, down $700 million from the same period of the previous year. The department explains that although revenues rose by $6.5 billion, spending alsOWN up by $11.1 billion, most of the increase due to higher transfer payments for social services to the provinces. The government also paid $700 million on the national debt.
Friday Dec 30, 2005 rci Western Canada is increasingly important to the country's economic health. That's according to a report made public on Thursday by the BMO Financial Group, one of Canada's largest financial institutions. The three westernmost provinces - Saskatchewan, Alberta and British Columbia - all experienced above-average growth in 2004 and continued to do so in 2005. Meanwhile, in Eastern Canada, economic growth was equal to or below the national average. BMO Financial Group is now forecasting that Alberta and British Columbia will continue to experience solid growth in 2006, and that they will be joined by Newfoundland-and-Labrador, the country's easternmost province.
Saturday Dec 24, 2005 rci Canada's gross domestic product grew 0.2 per cent in October.
The government's official recording agency says the economic expansion came mostly due to a rebound in manufacturing output, led by a 9.4 per cent upswing in auto production.
However, output from the mining, oil and gas extraction sector dropped after a strong showing in September.
Tuesday Dec 20, 2005 rci Statistics Canada reports that Canada's net worth reached CDN$4.4 trillion at the end of the third quarter of this year. The value of Canadian's per capita net worth is put at CDN$135,500. Statistics Canada says the figure measuring Canadians' net non-financial assets increased by .7 per cent for the period. It was less than half the rate set in the second quarter and down from its average of 1.5 per cent growth over the past 10 quarters. The gain in national wealth was offset by an increase in net foreign debt. National wealth, which is the total of non-financial assets in all sectors of the economy, increased by 1.3 per cent during the quarter.
Tuesday Dec 20, 2005 Statistics Canada reports that the number of foreign visitors to the country in October fell to 2.9 million compared with the previous month, the lowest number in 12 years. The drop from September was one per cent. StatsCan says that most of the decrease was in numbers of American visitors. The federal data-gathering agency says that 2.5 million of the visitors in October were American.
Tuesday Dec 20, 2005 ts Toronto to lead country in growth
Toronto is poised to lead Canada in economic growth in 2006 but the province of Ontario may be in for another rough year, forecasters say. At the heart of the matter is the trend in energy prices, and in turn, the Canadian dollar.
Tuesday Dec 20, 2005 ts Young country
With 80 per cent of Canadians living in urban centres and close to half the population situated in Toronto, Montreal, Vancouver, Calgary and Edmonton, it's not surprising that small towns can be considered small time.
Thursday Dec 15, 2005 rci Statistics Canada reports that Canadian households last year spent an average of $63,640, 3.4 per cent than the previous year. The average in Ontario was $71,580 and in Quebec $54,490. StatsCan attributes the increase in part of families' desire for new communications services such as high-speed Internet, cellular telephones and DVD players.
Sunday Dec 4, 2005 ts Canada's jobless rate falls to 6.4%
Another burst of full-time hiring drove Canada's unemployment rate down to 6.4 per cent in November, from 6.6 per cent in October, a pace so strong it may force the Bank of Canada to get more aggressive in hiking interest rates.
Wednesday Nov 23, 2005 ts Canada still in top 10 for offshore services
Canada still ranks among the top 10 most attractive locations for "offshoring" services like information technology and call centres, writes Naomi Carniol.
Friday Nov 18, 2005 rci The government of Canada's main energy-producing province, Alberta, continues to be in good health thanks to its burgeoning oil and natural gas revenues. The government now estimates its budget surplus for the 2006-2007 fiscal year will amount to $9 billion. The government this will remit rebates of $400 to every resident, in addition to increasing spending for hospitals and schools.
Friday Nov 18, 2005 rci Statistics Canada reports that Canada received three million foreign visitors in September, an increase of 4.5 per cent over the previous month. It was the first such increase in eight months, most of the visitors being Americans. The agency also reports that four million Canadians travelled abroad in September, mostly to the U.S.
Three Canadian cities have been named the best in the world for the way they accommodate business travellers. The prestigious British magazine, The Economist, conducted a survey of 100 best cities for business travel and Vancouver, Calgary and Toronto were the top choices. The magazine explained its choices saying Canada has a very good infrastructure. In addition, the magazine emphasized that Canadian cities generally have low crime rates and are perceived as being much less dangerous than other cities. The top United States city on the list is Honolulu, ranked number five in the world. New York City, ranked 47th
Sunday Nov 13, 2005 rci Canada's trade surplus for September reached $7 billion, only the fifth time that figure has been recorded. Statistics Canada says that the surge has been powered by exports of natural gas, some of which were due to the gas shortages caused by the two hurricanes which struck southeastern U.S. in September.
Sunday Nov 13, 2005 cbc Nearly half of Canadians lack reading skills: report ..16 and over and a good chunk of university graduates fail to meet the basic standards for reading comprehension, suggests a Statistics Canada report on literacy skills.
Saturday Nov 5, 2005 rci Statistics Canada reports that the country's unemployment rate fell to 6.6 per cent last month, its lowest level in three decades. The agency says almost 69,000 jobs were created in September, although many of them were part-time. The latest job figures increase the likelihood that the Bank of Canada will increase its trend-setting interest rate to prevent inflation.
Best Jobless rate in 30 years Canada's unemployment rate hasn't been this low since Pierre Trudeau was in power and KC & the Sunshine Band topped the charts with "Get Down Tonight." Business reporter Naomi Carniol investigates.
Sunday Oct 23, 2005 ts Canada's future rides on right policy mix
Canada is faltering. That's the stark assessment of the Conference Board of Canada's big-picture overview of the country in its 10th annual report card on the state of the nation. We say "big picture" because the report released this week is an attempt to connect all the dots that together determine Canadians' overall quality of life — from education and innovation to the state of our environment, the status of our health, and the cohesiveness and fairness of the society in which we live.
Friday Oct 21, 2005 ts Canada lags in high-value services
When the Rolling Stones used a Toronto recording studio to produce a new CD, they were offshoring activities that could have been carried out in Britain. It's just one example of what is becoming one of the biggest trends in the global economy, comments David Crane.
Tuesday Oct 18, 2005 ts Canada slips in economic ranking
Canada continues to slide down the ranks of the world's top economies, according to the Conference Board of Canada's latest global standings.
Tuesday Oct 18, 2005 gaz Canada falling, falling behind in OECD Canada is "not living up to its brand as a wealthy, environmentally responsible, socially conscious, healthy society." That's the verdict made public today by the think tank called the Conference Board of Canada, which has the numbers to back up its sobering claim.
Tuesday Oct 18, 2005 ts Economy needs workers past 65
Getting people to work longer — not subsidizing more babies or bringing in more immigrants — is the best way to boost the labour force as the population ages, the Conference Board of Canada says.
September 2005 Source: The Conference Board of Canada Biotechnology in Canada: A Technology Platform for Growth Countries in search of the next technology platform that will drive innovation are eyeing biotechnology—Canada included. It's time to stop discussing whether or not to embrace biotechnology. Canada should act quickly in order to capitalize on it. Biotechnology is a critical technology platform essential to Canada's ongoing prosperity. Countries like Australia, the United Kingdom, India, the United States and Japan are investing heavily in research and development, aggressively developing and attracting world-class talent, and establishing highly focused strategies to harness the promises of biotechnology. In order to stay competitive in this environment, Canada needs to address several weaknesses without delay: we need to make biotechnology a strategic priority; we need to improve our commercialization track record; we need to attract more risk capital; and we need a more ample supply of highly skilled people. Biotechnology in Canada: A Technology Platform for Growth discusses why biotechnology matters, examining it through the lens of innovation to assess Canada's past and potential performance. It explores the key issues affecting biotechnology in Canada, such as research funding, access to capital and the biotechnology workforce, in order to identify problems and suggest solutions.
Friday Oct 14, 2005 rci Statistics Canada reports that the country's trade surplus amounted to $5.6 billion in August, up from $4.9 billion in the preceding month. The agency attributes much of the increase to soaring natural gas prices. StatsCan also reports that the trade surplus with the U.S. came to $8.9 billion.
Wednesday Oct 5, 2005 rci A poll indicates that consumer confidence in Canada has fallen to its lowest level since September 2001. The survey was conducted by the Decima Research polling company and the Investors Group research firm. The results indicate that Canadians have a pessimistic outlook in such categories as family finances, job market prospects and spending for such major items as cars or washing machines. Decima says the data indicate worry about rising energy prices as well as the impact of Hurricane Katrina. The pollster says that the present consumer gloom will likely have a short-term effect on such industries as tourism, entertainment, automakers and manufacturer of "big-ticket" goods.
Saturday Oct 1, 2005 ts So-so rankings mean others advancing faster
Canada's 14th place ranking in the 2005 Global Competitiveness Report of the World Economic Forum is a tiny improvement from last year's 15th place spot, but still a big disappointment and much worse than our fourth place ranking in 1997. We have to do better.
Thursday Sep 29, 2005 ts Message to Canada: `End two solitudes'
OTTAWA ?"No more solitudes" is the motto Michaëlle Jean has chosen to launch herself as Canada's first black Governor-General, with a ceremony that turned the normally staid Parliament Hill into a lively street festival.
Spotlight trained on Jean's daughter
OTTAWA?Marie-Éden Lafond leaned into the microphone and in the squeaky, but confident voice of a 6-year-old, simply said, "Bonjour."
Great things for `someone from Haiti'
PORT-AU-PRINCE?Haitians may have been able to watch Michaëlle Jean's big day on tape delay, but the downtown denizens of her hometown seemed preoccupied by the more immediate difficulties of life in a chronically gridlocked city.
Editorial/Opinion
Michaëlle Jean's forceful challenge
Michaëlle Jean spoke passionately and eloquently yesterday of Canada's boundless promise as she was sworn in amid pomp and pageantry as our 27th governor general. Words such as hope, freedom, possibility, potential and renewal rang through her installation speech, during a ceremony that celebrated the country's youth, energy and diversity.
`I know how precious freedom is'
This is an edited text of Governor General Michaëlle Jean's installation speech in Ottawa yesterday.
Factsheet 
Peter G. Halll VP EDC Economics Weekly Commentary
MOHAWK SOLIDARITY1/KAHNAWAKE QUEBEC/APRIL 20,2006---The flags of the Mohawk Warrior Society fly briskly over the Mercier Bridge, leading to the Mohawk community of Kahnawake, and Chateauguay. The flags were erected this morning to show solidarity with the native blockade at Caledonia, Ontario, which was confronted by the OPP earlier today. Barricades are ready to be put up and manned, in Kahnawake should the police force confront the Caladonia blockade again. (Str pic by Robert J. Galbraith) rjg
Stephen S. Poloz VP EDC Economics Weekly Commentary
"Today's world ... demands that we learn to see beyond our wounds, beyond our differences for the good of all," Jean added as she urged unity and tolerance.
