Record Jobs In Canada Since 1976

Canada saw a record jobs gain in April, with a net 106,500 jobs added on a seasonally-adjusted basis. Economists had forecast just 15,000. This is the largest gain since 1976, when Statistics Canada began collecting data. Wages also rose 2.5% on a one-year basis, the strongest increase Canada has seen for eight months. The positive jobs news comes amid an otherwise stagnant economy, with the Bank of Canada lowering the domestic growth forecast for 2019 just last month.

Sears Canada Cut 12,000 Jobs As Business Dwindles

Sears Canada Inc. has decided to shut its doors and is seeking approval to liquidate its roughly 130 remaining stores — leaving another 12,000 employees across the country without a job.

The embattled retailer, which sought protection from its creditors in June, said Tuesday it had failed to find a buyer that would allow it to continue as a going concern.

The court overseeing Sears Canada's operations is set to hear a motion Friday seeking approval for the liquidation and wind down of the business.

"The company deeply regrets this pending outcome and the resulting loss of jobs and store closures," Sears Canada said in a statement on Tuesday.

Last week, Sears received a revised bid from a buyer group led by its executive chairman Brandon Stranzl to buy the business and keep it operating. It was the latest move in a weeks-long discussion process after Stranzl stepped away from his role to launch the bid.

However, on Tuesday, the retailer said that "following exhaustive efforts, no viable transaction" was received. A lawyer for Stranzl did not immediately respond to requests for comment.

Happy Canada Day!

Happy Canada to all fans of buzzcanada blog.

O Canada!
Our home and native land!
True patriot love in all thy sons command.
With glowing hearts we see thee rise,
The True North strong and free!
From far and wide,
O Canada, we stand on guard for thee.
God keep our land glorious and free!
O Canada, we stand on guard for thee.
O Canada, we stand on guard for thee.

French version

Some Goodnews As Canada Had Best Job Creation in 4 years

Canada's job market had a promising end to a year marked by big employment gains — but, unlike recent history, growth in 2016 was driven by a less-encouraging factor: an upsurge in part-time work. Canada added more than 53,000 jobs in December, bringing the total for 2016 to 214,000.

The total for last month was 54,000, according to Statistics Canada. The economy actually added 81,000 full-time jobs during the month, but that was slightly offset by a loss of 27,000 part-time positions.

The results were a positive surprise to economists, who had been expecting a slight loss of jobs during the month.

Canadian Economy in October 2016 Adds 44,000 Job but....

The economy gained 44,000 jobs last month -- fueled entirely by part-time employment, which offset a loss in full-time positions -- Statistics Canada said Friday, raising concerns that Canadians are having trouble securing gainful work.

The result is further evidence that Canada is struggling to create "quality, high-paying jobs," said David Madani, senior Canada economist at Capital Economics.

"Even though headline employment is rising, overall income growth still appears to be slowing sharply," Madani wrote in a note to clients.

The overall increase in employment was driven by 67,000 additional part-time positions for the month, while the number of full-time jobs fell by 23,000. The unemployment rate held steady at 7.0 per cent as more people entered the labour market, looking for work.

University of Waterloo boosts salaries of female faculty by $3K after 'systemic' discrepancy found

An Ontario university is the latest to bump the salaries of its female faculty members after discovering they were being paid thousands of dollars less than their male coworkers, but one professor says steps must be taken to prevent — not just rectify — such biases in academia.
In a memo emailed to faculty Wednesday and obtained by The Canadian Press, the University of Waterloo said a working group tasked with analyzing faculty salaries uncovered a "systemic gender anomaly" that was "consistent across the university."

As a result, it said an adjustment of $2,905 will be made on Sept. 1 to the salaries of all female faculty members who were in the faculty association's bargaining unit as of April 30 of last year.
However, the working group said in its report that the increases will not be applied retroactively.
Aimee Morrison, an associate professor at the university and associate chair of graduate studies, says this type of inequity is a problem across academia "and probably all fields."

While it's great that the university is willing to address the problem, "I don't see a bigger conversation happening in really pointed ways about how does this keep happening," she said.

Sad Ending As Jewelry Mega Chain Ben Moss Closes Door Across The Country

After more than a century in business, Winnipeg-based jewelry chain Ben Moss Jewellers is closing its doors.

Going-out-of-business sales were announced at all 54 Ben Moss locations in Canada in a news release from Gordon Brothers Group on Friday. The sales began on Saturday.

In May the company announced that it was restructuring its operations after receiving creditor protection. Liquidation sales have already begun at 11 underperforming stores across the country.

How Come! Canadian Police Force, RCMP Misconduct Jumps By 158%

The number of misconduct investigations the RCMP launched into their own staff went up by 158 per cent in 2015 over the previous year, leaving 56 officers facing possible dismissal over allegations of serious misconduct.

Details of the development are contained in a document posted to the RCMP website called Results and Respect in the RCMP Workplace.

The document appears to be a means of updating the public on how the national police force has followed through on the findings and recommendations from the Mounties' Gender-Based Assessment and Gender and Respect Action Plan, in 2012 and 2013 respectively.

Inflation Close At 1.6% Due To Surge In Cost of Fruits and Vegetables

Prime minister-designate Justin Trudeau greets constituents at a subway station in his riding Tuesday, October 20, 2015 in Montreal, the morning after winning a majority government in the federal election. THE CANADIAN PRESS/Paul Chiasson

Canada's highest income earners face the prospect of higher taxes under a new Liberal majority government, but those in the middle can expect a break.

Keith MacIntyre, a tax specialist at accounting and consulting firm Grant Thornton, says people in the middle tax brackets could see a reduction in the federal income tax they'll be required to pay if Justin Trudeau's promises are put in place.

"Certainly people in those brackets will be looking forward to that in terms of additional cash flow," MacIntyre said from Halifax.

Full list of Canada's New PM Justin Trudeau's Cabinet

The full list of Prime Minister Justin Trudeau's new 31-member cabinet(including 15 women), in order of precedence, being sworn in today at Rideau Hall in Ottawa (with their province in parenthesis):

Justin Trudeau (Quebec) - Prime Minister, Intergovernmental Affairs and Youth.
Ralph Goodale (Saskatchewan) - Public Safety and Emergency Preparedness.
Lawrence MacAulay (P.E.I.) - Agriculture and Agri-Food.
Stéphane Dion (Quebec) - Foreign Affairs.
John McCallum (Ontario) - Immigration, Refugees and Citizenship.
Carolyn Bennett (Ontario) - Indigenous and Northern Affairs.

Canada's unemployment rate stays at 6.8 per cent in March

The Canadian Press
Canada’s economy posted a surprise job gain in March as more people found part-time work.

Statistics Canada’s latest labour market survey says the country’s jobless rate remained at 6.8 per cent in March — unchanged from the previous month — and it registered a month-to-month net gain of nearly 29,000 jobs.

Women over 55 years old, in particular, were able to find new jobs in March.

The unemployment rate matched the consensus projection of economists, who also predicted no new jobs would be created for the month, according to Thomson Reuters.

“The bar was set pretty low for this employment release and it managed to clear it,” Bank of Montreal chief economist Douglas Porter said in a note to investors.

Business Canada: How ‘arrogance’ led to Target’s failure

Hundreds of shoppers wait for the opening of the new Target store in in Guelph, Ont. on Tuesday March 5, 2013. Dave Chidley CP

Torstar News Service
Target Corp. never understood the Canadian marketplace, according to experts reacting to the announcement on Thursday that the discount retailer will close all 133 of its stores in Canada in the next five months, leaving 17,600 people jobless.

“They underestimated the Canadian competition,” said Jamie Tate, of Tate Economic Research Inc., a Toronto firm that has worked with Canadian Tire Corp. and Walmart Canada.

“You might even want to call it arrogance.”

The Minneapolis-based Target began opening stores in Canada in March 2013, and the first ones were swarmed by shoppers who wanted to see what the vaunted chain had to offer.

But Target couldn’t keep the shelves stocked, couldn’t offer the same products it sold at stores in the U.S. and couldn’t match U.S. prices.

List of retailers that have closed Canadian stores

 A Smart Set store is shown in Laval, Que., Tuesday, Nov.25, 2014. Smart Set is among the retailers that have recently closed or are closing shop in Canada. THE CANADIAN PRESS/Ryan Remiorz 

 The Canadian Press

 A list of retailers that have recently closed or are closing shop in Canada:

Sony Corp.

• Japanese electronics company is closing all 14 retail stores in Canada over the next six to eight weeks
• Closures will result in 90 layoffs
• Currently has stores in Montreal, Ottawa, Quebec City, Vancouver, Toronto and Alberta

Mexx Canada

• Dutch-based retailer declared bankruptcy in December 2014
• Liquidating 95 stores in Canada by the end of February
• Mexx has 315 stores around the world

Smart Set

• Parent company Reitmans (TSX:RET.A) announced in November 2014 that it would close 107 Smart Set stores
• Will convert 76 locations into other banners, including Reitmans, Penningtons, Addition Elle, RW&Co. and Thyme Maternity

Canada's biggest tech trend in 2015: Paying with phone

Photo shows the app that links to shopping on Amazon.com on the new Amazon Fire Phone, in Seattle. Getty

Linda Nguyen The Canadian PressMore Canadians will be reaching for their cellphones instead of their wallets to pay for purchases this year, predicts a report by global professional services firm Deloitte.

The report, released Tuesday, sees 2015 as a “tipping point” for retailers, banks and telecom companies to adopt the technology, which allows consumers to make relatively small payments within seconds with their smartphones.

Duncan Stewart, a director at Deloitte Canada, said there now are more phone models with the technology, called near field communication, and more retail locations that can accept the payments.

The familiarity Canadians already have with using credit cards to tap and pay, whether in a coffee shop or at the drugstore, will make it easier for consumers to transition to using the same technology with their smartphone.

Goodnews! Child care tax break for parents

Prime Minister Stephen Harper does arts and crafts with a student at the Joseph and Wolf Lebovic Jewish Community Campus in Vaughan, Ont., in October, after announcing an income-splitting proposal and other tax breaks for families. (Nathan Denette/Canadian Press)

CBC

Families with children under 18 will receive new tax breaks starting Jan. 1, though Ottawa won't begin paying them out until July, just a few months before the federal election set for Oct. 19.

The universal child care benefit per child under six is to rise from $100 to $160 a month or $1,920 a year. For each child six to 17 years old, families can also now receive a federal tax credit of up to $720 per year. 

Those families will receive their first cheques in July, a lump-sum payment for the first half of 2015.

Transport Canada Introduces New Rail Safety Requirement

New safety regulations for railways were announced in response to the tragedy in Lac-Megantic, Que. (Paul Chiasson/The Canadian Press)

CBC
Railway operating certificates from the federal government become mandatory Jan. 1, at least for new operators.

This new requirement for rail companies follows a recommendation of the Auditor General after the train derailment and explosions that devastated Lac-Megantic, Que. in 2013.

Now Transport Canada will have the power to shut down a railroad's operations without going to court. The ministry says a revocation will only happen if there is an extreme violation of the safety regulations.

On the other hand, should an extreme violation happen and the government not act, it may be held to account.

Transport Canada says it will take only an hour to complete the certificate, but it is giving existing railways two years to do so.

Plunge in crude oil prices named top Canadian Press business story of the year

A person pumps fuel in Toronto after gasoline prices rose overnight on Wednesday, September 12, 2012.  CP

Lauren Krugel, The Canadian Press

From Alberta oilfields to Bay Street boardrooms to the gas station on the corner, the precipitous drop in crude prices is expected to have far-reaching impacts across the country heading into 2015, making it The Canadian Press Business News Story of the Year.

The abrupt turnaround in oil markets was chosen by half of the 50 editors and news directors across the country who participated in the annual survey.

In explaining their pick, many respondents noted the story's ripple effects beyond the oilpatch.

Richard Dettman, business editor at News 1130 in Vancouver, said the halving in crude prices over a six-month span created a "gusher of stories" — the hit to federal and provincial government coffers, the plunging loonie and the benefit to consumers, to name a few.

Quotes from notable Canadian news stories and newsmakers in 2014

The Canadian Press 
''It was just like straw on fire. People tried to do whatever they could, but the fire was so intense that there wasn't much that could be done. I saw people crying, I saw people collapse because they were watching those people burn.'' — Eyewitness Pascal Fillion on Jan. 24 describing a fire at a seniors' residence that killed 32 people in L'Isle-Verte, Que.
___
"Does anybody know who won the scoring race? Does anybody care? Does anybody know who won the gold medal? See you, guys." — Canadian Olympic men's hockey coach Mike Babcock on Canada's lack of scoring en route to defending its gold medal in Sochi. He made the comment Feb. 23 just before abruptly leaving his final news conference to attend the closing ceremony.
___
''My joining the Parti Quebecois is support for my deepest and most intimate values, which are to make Quebec a country.'' — Pierre Karl Peladeau on March 9 as he announced his PQ candidacy in the Quebec election, along with a raised fist clench. The comment was widely interpreted as having a negative effect on the party's performance in the campaign.

Canada real estate market could fall like oil

A pump jack and a house northwest of Calgary. Experts in the oil industry seemed not to see the fall in prices coming. Could the same thing be happening again with house prices? (The Canadian Press)

Don Pittis, CBC News
Recent reassuring comments about the Canadian housing market remind me of similar blandishments when oil prices began to fall.

I wouldn't want to overemphasize the parallels between houses and petroleum. Indeed, there are many differences in the two markets, which I will expand upon in a moment.

But first the similarity. It is that, just as with oil, so many of the people we expect to know what is happening refuse to admit that house prices can go through big declines as well as big increases.

Read full story on CBC

Canadians Spend More Of Their Income At The Gas Station Than Almost Everyone

Jesse Ferreras | Huff
Household debt isn't the only area where Canadians outshine their southern neighbours.

We also spend more of our money on gasoline than Americans do, according to Bloomberg data released Dec. 1.

Canadians spent 2.89 per cent of their income on gasoline in the fourth quarter of 2014, while Americans spent 2.27 per cent.

The proportion of our income spent on filling up our cars is largely a factor of consumption; we're second only to the U.S. when it comes to how much gas we use.

We also rank sixth in the world when it comes to how much of our annual income goes to paying at the pump.

South Africans stood on top of the world when it came to spending their income on gasoline, at 5.17 per cent.