Health care, retail trade and education/social assistance sectors especially hard hit The labour market for women in Canada has been in flux since the pandemic began, hitting some women harder than others. High demand for workers and high vacancies in many industries have pushed up wages in several select occupations, including professional services and information…
No. The need to broaden access and expand government contributions is urgent
The risk of recession is now in clear sight. But as the Bank of Canada pursues a course of aggressive interest rate hikes designed to wrestle inflation to the ground, the potential cost is hundreds of thousands of jobs. The August labour force survey is already revealing a worrying increase in the unemployment rate. At…
Raising corporate taxes would hurt firms’ profitability and growth. Employment and wages would suffer
The finance ministers of more than 130 nations and territories have arrived at a tentative agreement to create a tax floor – a minimum corporate tax rate of a proposed 15 per cent. Its proponents, sadly including Canada, claim it will create a "level playing field" and stop a "race to the bottom." Some nations face…
Commitment to strengthening “labour protection” for workers in the gig economy will discourage hiring
Most of the headlines from the Liberal budget were about the big dollar expenditures: tens of billions in new spending on child care, corporate welfare handouts (even excluding pandemic-related supports), student debt relief, climate change programs, Indigenous services, and much more. All this spending will reduce economic growth by shifting economic control from the private…
The good news? Pandemic under control. The bad news? Very slow growth, high debt, higher taxes, high unemployment
The future is imaginary, said philosopher Baruch Spinoza. We don’t and can’t know what will happen in the future and last year certainly demonstrated that. Nevertheless, the desire to see what the new year will bring always overcomes the future’s inherent mystery. We peer into our crystal balls and bravely prognosticate, knowing full well that…
Far-left activists and politicians are recruiting and radicalizing in the same way far-right groups did back in the 2008 crash
COVID-19 lockdown measures are opening the door to extremists, not just because people are spending more time on the internet at home, but because of the huge impact lockdowns had on the economy and employment. Much like the 2008 stock market crash, which facilitated a substantial rise in far-right extremism, lockdown measures impacted low-wage workers…It’s not the headlines that kill, it’s the many burdens caused by lockdowns that render small businesses unprofitable
Across Canada, as COVID-19 cases surge, there’s talk of locking down again or of tightening second lockdowns. Of course, we haven’t even settled whether lockdowns were the proper solution in the first place, given the enormous collateral damage in unemployment, bankruptcies, and the physical and mental health of millions, amid a virus that overwhelmingly targets…
A better future awaits if we use this period of uncertainty to work on our mental, physical and career well-being
Dread isn’t too strong a word to describe the feelings many have about the winter about to start. The COVID-19 virus is reason enough to worry. There’s not much individuals can do about that except follow all the good advice about staying safe. However, there are two other major depressing impacts of COVID-19 that we…
As the system increases in generosity and accessibility in Atlantic Canada, it may perpetuate the nation’s problems with EI
By Alex Whalen and Fred McMahon The Fraser Institute The spike in unemployment across Canada due to the COVID-19 pandemic has triggered changes in the employment insurance (EI) program. And those changes could lead to significant problems. When unemployment grows in any of the country’s 62 EI regions, eligibility and benefits change along with it.…
It not only generates jobs in the short term, but results in greater productivity, employment and tax dollars in the future
How the economy will be rebuilt in the wake of the COVID-19 pandemic is a major concern for us all. There are many unknowns, making the near future and the years ahead even murkier than usual. So uncertain is Canada’s federal government about economic and financial prospects that it’s not producing a budget, or even…