Canada's inflation rate hit 5.7% year over year in February, up from 5.1% in January, as price increases continued to broaden across categories, according to data from Statistics Canada on Wednesday. The eye-popping figures, however, do not capture price increases associated with Russia’s invasion of ... READ MORE >
Canada
Canada’s job market is strong but uncertainty lies ahead
The Canadian economy added 337,000 jobs in February as the reopening of the economy more than offset the job losses in January because of the omicron variant, according to data released by Statistics Canada on Friday. The unemployment rate dropped to 5.5%, for the first time falling below the ... READ MORE >
The impact of an energy shock on Canada’s economy
As geopolitical conditions worsen and the human toll of Russia’s invasion of Ukraine mounts, the economic impact is rising as well, especially on global energy markets. Though the impact on Canada’s gross domestic product will be minimal thanks to Canada’s strong energy industry, consumers and ... READ MORE >
Bank of Canada raises rates in response to inflation
The Bank of Canada announced on Wednesday that it would raise its overnight rate to 0.5%, 25 basis points from the lower bound policy rate of 0.25%, to tackle inflation. This marks the first rate hike in more than three years. The bank, however, said it would keep its holdings of bonds on its balance ... READ MORE >
Canada’s growth picked up at end of last year as economy reopened
The Canadian economy ended 2021 on a strong note, expanding by 4.6% on an annual basis thanks to a reopening economy, according to data released by Statistics Canada on Tuesday. Real gross domestic product, after adjusting for inflation, grew by 1.6% in the fourth quarter on a quarterly basis following ... READ MORE >
Canada’s supply chain worsens amid omicron’s spread
RSM Canada’s Supply Chain Index worsened to 1.84 standard deviations below zero in January, down from a revised 1.36 standard deviations below zero in December as the omicron variant spread across Canada and the world. The highly infectious strain of the coronavirus hurt the supply chain more than ... READ MORE >
Canada’s retail sales slump because of omicron
Retail sales in Canada plunged by 1.8% in December across all provinces as the spread of the omicron variant hurt holiday shopping, according to data released by Statistics Canada on Friday. The fast spread of the variant led to tightened restrictions and limited capacity at stores across the country. ... READ MORE >
This week in energy: Jet fuel demand, oil and gas earnings, ESG metrics
In this week's energy industry analysis, we take a look at the jet fuel demand landscape, fourth-quarter earnings reports for oil and gas companies, and the first oil and gas producer in North America to issue a sustainability-linked bond. Aviation energy demand to rise in 2022 Global air travel rose ... READ MORE >
Environmental and facilities services see a sunrise powered by legislation, automation: Spring 2022 outlook
- For environmental services firms, opportunities abound from the Infrastructure Investment and Jobs Act. - Environmental services firms and waste management companies are investing in technologies that can either replace talent they’ve lost or enhance the productivity of talent they’ve retained. - Data ... READ MORE >
Law firms implementing new battle plan in war for talent: Spring 2022 outlook
- Law firms are recognizing that salary increases are not sustainable because of lasting impacts on profit margins, and they’re updating their workforce strategies accordingly. - As lawyer billing rates increase, clients will value productivity and efficiency from their law firms more than ever. - ... READ MORE >