Canada added 153,700 jobs in November, bringing the unemployment rate down to 6% as it approaches the pre-pandemic level, according to data released by Statistics Canada on Friday. The report was a sign that Canada’s heated labour market was finally benefiting workers who have been left out of the ... READ MORE >
Canada’s GDP rose at 5.4% annual rate as economy reopened
Canada’s gross domestic product grew by a strong 5.4% in the third quarter on an annual basis and by 1.3% from the previous quarter as spending on in-person services rose, according to data released by Statistics Canada on Tuesday. Household spending on semi-durable goods and on services had the ... READ MORE >
The U.S. infrastructure package is a call to action for Canada
The infrastructure package recently signed into law in the United States will lead to increasing productivity and innovation, but it also has the potential to widen the gap between the U.S. and Canadian economies. The $1.2 trillion package not only highlights the relative lack of investment in ... READ MORE >
Introducing the RSM Canada Supply Chain Index
The reports of flooding out of British Columbia recently were unsettling: Rising water had cut off highways and rail lines, stranding consumers and businesses, and led officials to declare a state of emergency. The severe flooding only compounded the disruptions to the delivery of goods and ... READ MORE >
Canadian retail sales fall as chip shortage hurts auto sales
Retail sales in Canada decreased by 0.6% in September, to CA$56.6 billion, as a severe shortage of semiconductor chips slowed production in the auto industry, according to data released by Statistics Canada on Friday. The drop was almost entirely driven by sales of motor vehicles and parts, which ... READ MORE >
Inflation in Canada hits 4.7% amid soaring gas prices
October inflation in Canada climbed to 4.7%, the highest since February 2003 and up from 4.4% in September, primarily because of skyrocketing gasoline prices, according Consumer Price Index data released by Statistics Canada on Wednesday. Excluding food and energy, inflation stood at a more ... READ MORE >
Housing starts in Canada dropped for the fifth consecutive month
Housing starts in Canada dropped for the fifth consecutive month to 236,554 in October, down by 5.3% from September as builders grappled with shortages of materials and workers, according to data released by Canada Mortgage and Housing Corporation on Tuesday. Although the figure still stands above ... READ MORE >
How the construction industry can work toward a net-zero future
The construction industry has been resilient through the pandemic even as it confronts shortages of workers and raw materials, and rising inflation. But these challenges will pale in comparison to the ones that contractors will face as nations race to meet aggressive goals in reducing carbon ... READ MORE >
As world moves to renewable energy, storage looms as a major hurdle
The United Nations conference on climate change in Glasgow has highlighted the need for nations to reduce carbon emissions, but that still leaves the question of how they can achieve a net-zero future. It’s little mystery that wind and solar power will be a significant part of the answer. Yet even as ... READ MORE >
Carbon pricing—in the spotlight at COP26—could mean big shifts for global trade
Conversations last week at the United Nations Climate Change Conference, known as COP26, made clear that increases in carbon prices and in the adoption of carbon pricing programs are critical to reduce carbon emissions to keep the global temperature increase under 2 degrees Celsius. Though long touted ... READ MORE >