economy

Shoppers collect items from a pick-up area at Eaton Centre shopping mall. THE CANADIAN PRESS/Chris Young

Canadian economy lost 207,000 jobs in April, unemployment rate rises

The losses in April nearly wiped out the 303,000 jobs added in March

 

A Wealthsimple Trade app icon is shown on a smartphone on Tuesday, Dec. 15, 2020. THE CANADIAN PRESS/Jesse Johnston

Drake, Ryan Reynolds among latest Wealthsimple backers in $750 million funding round

Wealthsimple began as an online investment manager in 2014

 

Economists say the Canadian dollar is at a ‘sweet-spot’ after hitting a three-year-high yesterday, reaching a point where it benefits consumers but doesn’t hurt businesses too much. THE CANADIAN PRESS/Jonathan Hayward

Rising loonie hits ‘sweet spot,’ likely to climb further: economists

The loonie traded for 81.34 cents US Thursday, the highest level since February 2018. It’s been above 80 cents US since last week.

 

Statistics Canada’s offices in Ottawa are shown on Friday, March 8, 2019. THE CANADIAN PRESS/Justin Tang

Early estimate from Statistics Canada shows economic growth has slowed

‘The lull in between waves reveals how quickly Canadian activity can bounce back when the virus is contained,’ says economist Royce Mendes

Statistics Canada’s offices in Ottawa are shown on Friday, March 8, 2019. THE CANADIAN PRESS/Justin Tang
Smoke pours from the stacks at the Portlands Energy Centre in Toronto on Thursday January 15, 2009. THE CANADIAN PRESS/Frank Gunn

Risk experts say climate change to take big chunk of Canadian economy by 2050

Jerome Haegeli says the world’s current path puts Canada on track to lose 7% of its gross domestic product

Smoke pours from the stacks at the Portlands Energy Centre in Toronto on Thursday January 15, 2009. THE CANADIAN PRESS/Frank Gunn
Governor of the Bank of Canada Tiff Macklem holds a press conference at the Bank Of Canada in Ottawa on Wednesday, Oct. 28, 2020. THE CANADIAN PRESS/Sean Kilpatrick

Bank of Canada keeps rate on hold, sees brighter economic outlook

The key rate remains at 0.25 per cent where it has held steady for more than a year

Governor of the Bank of Canada Tiff Macklem holds a press conference at the Bank Of Canada in Ottawa on Wednesday, Oct. 28, 2020. THE CANADIAN PRESS/Sean Kilpatrick
Victoria’s economy is expected to bounce back fairly easily, according to a new report from BMO Capital Markets released April 15. (Black Press Media file photo)

Victoria in good position to bounce back post-pandemic, says BMO

City’s smaller size, lower COVID-19 caseload and diverse industry base bode well

Victoria’s economy is expected to bounce back fairly easily, according to a new report from BMO Capital Markets released April 15. (Black Press Media file photo)
In this photo provided by the New York Stock Exchange, traders work on the floor, Monday Feb. 22, 2021. THE CANADIAN PRESS/AP-(Courtney Crow/New York Stock Exchange via AP

Holding on during stock market roller-coaster was key to success, experts say

Now, stock indexes have gone on to set record highs — the S&P 500 closed above 4,000 points

In this photo provided by the New York Stock Exchange, traders work on the floor, Monday Feb. 22, 2021. THE CANADIAN PRESS/AP-(Courtney Crow/New York Stock Exchange via AP
Statistics Canada building and signs are pictured in Ottawa on Wednesday, July 3, 2019. THE CANADIAN PRESS/Sean Kilpatrick

Better-than-expected Jan. growth a good sign for pandemic’s third wave: economists

The shadow hanging over the economy now is COVID-19 and its variants that are pushing up caseloads

Statistics Canada building and signs are pictured in Ottawa on Wednesday, July 3, 2019. THE CANADIAN PRESS/Sean Kilpatrick
People wear masks as they walk past closed storefronts downtown as COVID-19 continues to take an economic toll Thursday, March 18, 2021 in Montreal. THE CANADIAN PRESS/Ryan Remiorz

Hardest hit businesses call for extension of federal wage, rent subsidies

Just 12 per cent said they have sufficient internal resources to stay afloat

People wear masks as they walk past closed storefronts downtown as COVID-19 continues to take an economic toll Thursday, March 18, 2021 in Montreal. THE CANADIAN PRESS/Ryan Remiorz
A sign outside a building at Statistics Canada in seen in Ottawa on Friday, March 12, 2021. THE CANADIAN PRESS/Justin Tang

Statistics Canada says annual pace of inflation edges up in February to 1.1%

Statistics Canada says driving much of the growth was a 5% year-over-year increase in gasoline prices

A sign outside a building at Statistics Canada in seen in Ottawa on Friday, March 12, 2021. THE CANADIAN PRESS/Justin Tang
Stephen Poloz arrives before a press conference on economic support for Canadians impacted by COVID-19, at West Block on Parliament Hill in Ottawa, on Wednesday, March 18, 2020.THE CANADIAN PRESS/Justin Tang

The Bank of Canada slashed its key rate one year ago. This is how it happened.

Stephen Poloz recalls trying to douse the economic flames caused by the pandemic

Stephen Poloz arrives before a press conference on economic support for Canadians impacted by COVID-19, at West Block on Parliament Hill in Ottawa, on Wednesday, March 18, 2020.THE CANADIAN PRESS/Justin Tang
Falling Canadian dollar coins or loonies are pictured in North Vancouver, B.C. Wednesday, May 29, 2019. THE CANADIAN PRESS/Jonathan Hayward
Falling Canadian dollar coins or loonies are pictured in North Vancouver, B.C. Wednesday, May 29, 2019. THE CANADIAN PRESS/Jonathan Hayward
Al Clark, left, founder of Northwest Deuce Days, joins Ecoasis chief financial officer David Clarke and Langford Mayor Stew Young outside the Westin Bear Mountain Resort before the 2016 event. Young says Langford could be a good fit for the vintage car event, which was recently cancelled for good. (Black Press Media file photo)

Mayor supports concept of West Shore version of Northwest Deuce Days

Stew Young says city could work with committee of interested people willing to take event on

Al Clark, left, founder of Northwest Deuce Days, joins Ecoasis chief financial officer David Clarke and Langford Mayor Stew Young outside the Westin Bear Mountain Resort before the 2016 event. Young says Langford could be a good fit for the vintage car event, which was recently cancelled for good. (Black Press Media file photo)
Northwest Deuce Days has attracted thousands of visitors and hundreds of entries in its seven years hosted in Victoria. (Black Press Media file photo)

Major economic generator for Greater Victoria, Northwest Deuce Days cancelled

Huge Inner Harbour show and shine a victim of its own success

Northwest Deuce Days has attracted thousands of visitors and hundreds of entries in its seven years hosted in Victoria. (Black Press Media file photo)
The Bank of Canada in Ottawa on Tuesday, Dec. 15, 2020. The Bank of Canada will provide a window into its thinking on the economy as it makes an announcement about its trend-setting rate. THE CANADIAN PRESS/Sean Kilpatrick

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

Bank points to new, more transmissible variants of COVID-19 as the biggest risk to an economic recovery

The Bank of Canada in Ottawa on Tuesday, Dec. 15, 2020. The Bank of Canada will provide a window into its thinking on the economy as it makes an announcement about its trend-setting rate. THE CANADIAN PRESS/Sean Kilpatrick
Canadian and American flags fly near the Ambassador Bridge at the Canada-USA border crossing in Windsor, Ont. on Saturday, March 21, 2020. The Organization for Economic Co-operation and Development says the Canadian economy could benefit from a faster economic rebound in the United States this year. THE CANADIAN PRESS/Rob Gurdebeke

Canada to benefit from U.S. rebound, says OECD

Report says Canada’s economy is expected to grow 4.7% this year, while the U.S. is slated to grow 6.5%

Canadian and American flags fly near the Ambassador Bridge at the Canada-USA border crossing in Windsor, Ont. on Saturday, March 21, 2020. The Organization for Economic Co-operation and Development says the Canadian economy could benefit from a faster economic rebound in the United States this year. THE CANADIAN PRESS/Rob Gurdebeke
Shipping containers are seen at the Fairview Cove Container Terminal in Halifax on Friday, Aug. 25, 2017. THE CANADIAN PRESS/Andrew Vaughan

After worst year on record, Canada’s economy enters 2021 with double-digit growth

‘Lots of small businesses may have had to shut down… but a lot of other areas did manage to keep grinding through’

Shipping containers are seen at the Fairview Cove Container Terminal in Halifax on Friday, Aug. 25, 2017. THE CANADIAN PRESS/Andrew Vaughan
Shipping containers are seen at the Fairview Cove Container Terminal in Halifax on Friday, Aug. 25, 2017. THE CANADIAN PRESS/Andrew Vaughan

Canadian economy contracted 5.4 per cent in 2020, worst year on record

Drop was largely due to shutdowns in the spring as COVID began to spread

Shipping containers are seen at the Fairview Cove Container Terminal in Halifax on Friday, Aug. 25, 2017. THE CANADIAN PRESS/Andrew Vaughan
Selina Robinson B.C’s finance minister, says she’s encouraged by predictions that British Columbia’s economy will rebound this year and next. THE CANADIAN PRESS/Darryl Dyck

Economists predict slight rebound and moderate growth for B.C. economy in 2021

B.C. on track for real GDP growth of 4.7% this year and 4.3% next year, before growth slows

Selina Robinson B.C’s finance minister, says she’s encouraged by predictions that British Columbia’s economy will rebound this year and next. THE CANADIAN PRESS/Darryl Dyck