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Highlights/economy

Economy

Inflation rate cools slightly to 2.2% in April

Canada’s annual inflation rate cooled slightly last month to 2.2 per cent after having increased to 2.3 per cent in March, Statistics Canada reported Friday. The federal data agency’s inflation reading for April came in a little lower than predicted» 

Immigration & Refugees, International, Society

Immigrants crucial for Canada’s economic growth: think-tank

A pro-business think tank has issued a report showing that if Canada were to shut its doors to immigrants completely, its labour force and economic growth would shrink significantly. Canada is unlikely to stop immigration, but a senior researcher with» 

Economy

Canadian wages rise as job numbers see slight decline

Canadian wages hit their highest rate of growth in over five years in April but the economy lost 1,100 jobs after adding 32,000 jobs in March. Average hourly wages in April were 3.6 per cent higher than they were a» 

Economy

Economy grew by better-than-expected 0.4% in February

Canada’s gross domestic product grew by 0.4 per cent in February, driven by a rebound in the mining and oil and gas extraction sector. Fifteen of 20 economic sectors expanded, as the economy grew faster than predicted by most economists.» 

Economy

Gas prices, Ontario minimum wage hike help propel annual inflation

Canada’s annual inflation rate crept up higher to hit 2.3 per cent in March but the increase was not as steep as expected by most economists. The March figures from Statistics Canada show inflation hovering just above the Bank of Canada’s» 

Economy

Bank of Canada maintains key interest rate at 1.25 per cent

The Bank of Canada decided to keep its benchmark interest rate unchanged on Wednesday, but warned of rate hikes to come as inflation heats up. The target for the overnight rate, which impacts rates that Canadian consumers and businesses get» 

Economy

Canada adds 32,000 jobs in March

The Canadian economy surprised economists by pumping out 32,000 new jobs in March, keeping the national unemployment rate unchanged at 5.8 per cent as more people joined the workforce, Statistics Canada reported Friday. Economists were expecting the economy to add» 

Arts and Entertainment

Canadian province of Ontario contributes $96,000 towards update of Inuit art trademark

Eye on the Arctic brings you stories and newsmakers from across the North The Canadian province of Ontario may be a southern province, but this week it pledged $96,844 towards the Inuit Art Foundation’s update to the Igloo Tag Trademark. The» 

Economy

Canada shed 88,000 jobs in January

The number of jobs in Canada fell by 88,000 in January, ending the economy’s 17-month streak of job gains, Statistics Canada said Friday. The overall number was dragged down by a loss of 137,000 part-time positions in what was easily» 

Economy

Bank of Canada hikes key interest rate to 1.25%

Canadians will have to pay more to borrow money from banks after the country’s central bank raised its key lending rate by a quarter percentage point to 1.25 per cent on Wednesday despite looming uncertainty over the future of the North»