Supply chain disruptions in Canada worsened in December as businesses continued to be hindered by the fallout from flooding in British Columbia and a shortage of workers. The RSM Canada Supply Chain Index stands at 2.17 standard deviations below zero, down from 1.47, in a sign of just how persistent ... READ MORE >
Covid-19
RSM Canada Financial Conditions Index shows the return of risk
Risk is being reintroduced into Canada’s financial markets as investment decisions and monetary policy begin to pivot from interest rates at the zero bound. Though the rates are still far lower than in normal times, three-month Treasury bills have moved off recent lows, with the forward market now ... READ MORE >
5 things to know in life sciences: Week of Jan. 3
This week we explore a partnership between a large biopharma and a machine learning startup. In addition, we look at a non-commercial approach to address the global COVID-19 vaccine shortage, a major mRNA-focused acquisition, a temporary pause on factory inspections, and finally, 55 new drug approvals in ... READ MORE >
Canada’s jobs report shows strong gains among full-time workers
Canada added 55,000 jobs in December, rounding out the year on a strong note, according to data released by Statistics Canada on Friday. The entire gain in jobs occurred in full-time employment, which added 123,000 jobs, while part-time employment declined by 68,000. While the unemployment rate ... READ MORE >
Chart of the day: Service sector grew at slower pace in December
The purchasing managers’ index for the service sector grew at a much slower rate in December as supply chain delays continued to put a drag on service activities, according to a report Thursday from the Institute for Supply Management. The slower rate of growth will most likely persist given that the ... READ MORE >
Canada’s merchandise trade surplus increases, lifted by vaccine production
Canada’s international merchandise trade surplus widened to 3.1 billion CAD in November because of an unexpected source--the mass production of the COVID-19 vaccine, according to data released by Statistics Canada on Thursday. With the approval of the COVID-19 vaccines to children ages 5 to 11, demand ... READ MORE >
Initial jobless claims remain below pandemic level despite seasonal uptick
New filings for unemployment insurance last week ticked up to 207,000 from 198,000, continuing to stay below the pre-pandemic level amid a tight labor market where businesses are holding onto their workers. The headline number for jobless claims has been below the 2019 average of 218,000 for the past ... READ MORE >
ADP jobs report: Service sector led an upside surprise in December
Private businesses in the United States added 807,000 jobs in December, the most since May, pointing to a stronger rebound of the labor market, according to a report from ADP on Wednesday. The increase, which handily beat estimates of about 410,000 new jobs, was broad-based, with the largest gains ... READ MORE >
Canada’s building permits hit a record in November
Canadian building permits rose by 6.8% in November to an all-time-high of 11.2 billion CAD, the third straight monthly increase amid strong demand for residential housing, according to data released by Statistics Canada on Wednesday. All of the gains came from the residential sector, which increased by ... READ MORE >
Labor market tightened in November despite decline in job openings
Demand for labor declined slightly in November while the rate of people quitting their jobs returned to an all-time high, according to data released by the Bureau of Labor Statistics on Tuesday. Despite the decrease of about 529,000 job openings—a proxy for labor demand—the total number of vacancies ... READ MORE >