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Category: Economy (54 posts)

How to build a better Canada after COVID-19: Rethinking immigration can boost the economy

How to build a better Canada after COVID-19: Rethinking immigration can boost the economy

July 3, 2020 | Posted by: Maurice Kwok

This story is part of a series that proposes solutions to the many issues exposed during the coronavirus pandemic and what government and citizens can do to make Canada a better place. The coronaviru ... [read more]

Canada’s economy saw record 11.6% drop in April, but signs of rebound emerging

Canada’s economy saw record 11.6% drop in April, but signs of rebound emerging

June 30, 2020 | Posted by: Maurice Kwok

COVID-19 lockdowns choked off 11.6 per cent of Canadian real gross domestic product in April, the biggest one-month economic downturn on record – but preliminary evidence indicates that the econ ... [read more]

How COVID-19 has changed Canada's economy for the worse — but also for the better

How COVID-19 has changed Canada's economy for the worse — but also for the better

June 24, 2020 | Posted by: Maurice Kwok

Every facet of Canadian life has been changed by the current pandemic, from how and where we live, to how we shop, eat and work. While not all changes have been for the better, COVID-19 could bri ... [read more]

As the pandemic wanes, a job recruitment rebound takes place

As the pandemic wanes, a job recruitment rebound takes place

June 22, 2020 | Posted by: Maurice Kwok

As Canadian employers emerge from coronavirus pandemic restrictions and ramp up operations, there has been a rebound in new job postings for skilled candidates.
 While recruitment activity is not b ... [read more]

ADP Canada National Employment Report: Employment in Canada Increased by 208,400 Jobs in May 2020

ADP Canada National Employment Report: Employment in Canada Increased by 208,400 Jobs in May 2020

June 18, 2020 | Posted by: Maurice Kwok

TORONTO, June 18, 2020 /CNW/ -- Employment in Canada increased by 208,400 jobs from April to May according to the May ADP® Canada National Employment Report.&nbs ... [read more]

Bank of Canada to shift focus to economic recovery, new governor says

Bank of Canada to shift focus to economic recovery, new governor says

June 17, 2020 | Posted by: Maurice Kwok

After unleashing a barrage of measures early in the COVID-19 crisis to successfully stabilize financial markets and keep credit flowing, the Bank of Canada is about to pivot to bolstering the burgeoni ... [read more]

Canada’s Clean Energy Sector Can Help Drive Economic Recovery From COVID-19

Canada’s Clean Energy Sector Can Help Drive Economic Recovery From COVID-19

June 10, 2020 | Posted by: Maurice Kwok

The outbreak of Covid-19 and the lockdown measures to slow down the spread of the pandemic have had a significant impact on the Canadian economy. In April, the International Monetary Fund (IMF) publ ... [read more]

‘The recovery has begun’: Canada, U.S. swing to surprise job gains

‘The recovery has begun’: Canada, U.S. swing to surprise job gains

June 6, 2020 | Posted by: Maurice Kwok

Canada and the United States posted surprise gains in employment for May, a sign the North American economy is beginning to heal from the COVID-19 pandemic. In Canada, the number of employed people r ... [read more]

Canada unexpectedly adds 290,000 jobs on gradual reopening

Canada unexpectedly adds 290,000 jobs on gradual reopening

June 5, 2020 | Posted by: Maurice Kwok

Canada’s labour market unexpectedly strengthened after two-straight months of record losses as the country gradually reopens from COVID-19 related restrictions. Employment rose by 289,600 in Ma ... [read more]

‘Positive signs’ that impact of COVID-19 on Canadian economy has peaked, BoC deputy governor says

‘Positive signs’ that impact of COVID-19 on Canadian economy has peaked, BoC deputy governor says

June 4, 2020 | Posted by: Maurice Kwok

The Bank of Canada is seeing “positive signs” that the economic impact of the COVID-19 crisis has peaked and that the Canadian economy will emerge better than some have feared, deputy gove ... [read more]

End of an era as Poloz exits Bank of Canada

End of an era as Poloz exits Bank of Canada

June 1, 2020 | Posted by: Maurice Kwok

Stephen Poloz had only been Governor of the Bank of Canada for a few months in the late summer of 2013, when he gave a speech that defined his unique communication style and signalled a new era for a ... [read more]

Canada’s economy saw record decline in March; worse numbers forecast for April

Canada’s economy saw record decline in March; worse numbers forecast for April

May 29, 2020 | Posted by: Maurice Kwok

The Canadian economy took a record-setting dive in March as provinces imposed lockdown measures to curb the spread of COVID-19, a preview of worse numbers to come for April. Real gross domestic produ ... [read more]

Meet Tiff Macklem, the new Bank of Canada governor

Meet Tiff Macklem, the new Bank of Canada governor

May 1, 2020 | Posted by: Maurice Kwok

OTTAWA -- Tiff Macklem, a former second-in-command at the Bank of Canada, is returning to the central bank to take over the top job at a moment that he says cries out for bold, unprecedented responses ... [read more]

Small business is too big to fail. Ottawa has little time to come to the rescue

Small business is too big to fail. Ottawa has little time to come to the rescue

April 4, 2020 | Posted by: Maurice Kwok

The mantra of the 2008-09 financial crisis was “too big to fail.” Governments in the United States, Canada and other Group of 7 countries spent trillions to backstop and bail out banks, a ... [read more]

Canada’s food supply at risk as pandemic tightens borders to farm workers

Canada’s food supply at risk as pandemic tightens borders to farm workers

April 2, 2020 | Posted by: Maurice Kwok

The coronavirus pandemic is making it difficult for farmers to bring in temporary workers to plant crops on time, a problem that threatens Canada’s food supply. Time is of the essence. Spring i ... [read more]

The road ahead: After the lockdown, the question confronting the government will be how to rebuild the economy

The road ahead: After the lockdown, the question confronting the government will be how to rebuild the economy

March 28, 2020 | Posted by: Maurice Kwok

Even though the end is nowhere in sight, governments are being forced to imagine what the world after the coronavirus will look like. In the early stages of the biggest global crisis since the Second ... [read more]

TSX drops more than 700 points as trading resumes after outage

TSX drops more than 700 points as trading resumes after outage

February 28, 2020 | Posted by: Maurice Kwok

Canada’s main stock index futures crashed on Friday, tracking losses in global markets, on fears of a global economic crisis as the number of international coronavirus cases spiralled.
 Hopes ... [read more]

From rail blockades to virus fallout, can Canada avoid a recession in 2020?

From rail blockades to virus fallout, can Canada avoid a recession in 2020?

February 21, 2020 | Posted by: Maurice Kwok

2020 has gotten off to a rocky start. From ongoing anti-pipeline blockades that have choked supply chains and halted rail service across the country, to the rapid spread of COVID-19, there hasn&rsquo ... [read more]

‘It’s raining bonds’: Record no. expected to hit Canadian market in 2020

‘It’s raining bonds’: Record no. expected to hit Canadian market in 2020

February 13, 2020 | Posted by: Maurice Kwok

A record number of new Canadian bonds are expected to hit the market in the coming fiscal year, as federal and provincial governments plug growing deficit holes and both government and corporate borro ... [read more]

Trans Mountain pipeline expansion cost balloons to $12.6-billion

Trans Mountain pipeline expansion cost balloons to $12.6-billion

February 11, 2020 | Posted by: Maurice Kwok

The estimated cost of the Trans Mountain pipeline expansion has ballooned to $12.6-billion amid a series of legal and regulatory delays, but the federal Finance Minister maintains the project remains ... [read more]

Canada’s job market blows past forecasts in January, unemployment rate falls

Canada’s job market blows past forecasts in January, unemployment rate falls

February 7, 2020 | Posted by: Maurice Kwok

Canada’s labour market generated close to double the number of jobs as expected in January as companies ramped up hiring for full-time positions and in goods-producing industries. Over the mont ... [read more]

Oil prices drop as spreading coronavirus outbreak reduces demand for fuel

Oil prices drop as spreading coronavirus outbreak reduces demand for fuel

February 4, 2020 | Posted by: Maurice Kwok

Crude oil prices fell to their lowest point in more than a year amid growing concerns that the coronavirus outbreak is weighing on the global economy and quickly sapping demand for fuel. West Texas i ... [read more]

As the coronavirus spreads, only the brave and foolish would bet oil prices have hit bottom

As the coronavirus spreads, only the brave and foolish would bet oil prices have hit bottom

January 24, 2020 | Posted by: Maurice Kwok

Predicting oil prices has always been a mug’s game, and betting right in today’s market has proved especially difficult, even impossible, because of the arrival of a dreaded Black Swan eve ... [read more]

Scotiabank chief economist doubtful on recession, expects interest rate cut

Scotiabank chief economist doubtful on recession, expects interest rate cut

January 23, 2020 | Posted by: Maurice Kwok

The Bank of Nova Scotia’s senior vice president and chief economist isn’t fretting over a potential recession because he believes predictions that one will hit Canada are “exaggerate ... [read more]

Toronto is the fastest growing city in the U.S. and Canada

Toronto is the fastest growing city in the U.S. and Canada

January 18, 2020 | Posted by: Maurice Kwok

Toronto is a city on the rise in so many different ways, but chief among them is our population. It's growing exponentially. In fact, based on census data, Toronto's population is 'by far the le ... [read more]

Canadian Economy Already Recovering From Slump, Poll Of Economists Finds

Canadian Economy Already Recovering From Slump, Poll Of Economists Finds

January 17, 2020 | Posted by: Maurice Kwok

A revival in the Canadian economy may already be underway, according to a Reuters poll of economists, who were mostly confident a rate cut was not needed and so predicted monetary policy would remain ... [read more]

U.S., China sign deal, easing trade war that hurt global growth

U.S., China sign deal, easing trade war that hurt global growth

January 15, 2020 | Posted by: Maurice Kwok

President Donald Trump signed an initial trade deal with China on Wednesday, bringing the first chapter of a protracted and economically damaging fight with one of the world’s largest economies ... [read more]

Many Canadians are broke and blue (but spending will outpace income growth)

Many Canadians are broke and blue (but spending will outpace income growth)

January 14, 2020 | Posted by: Maurice Kwok

Broke and blue Recent economic reports underscore the fact that many Canadians are broke and blue, but we still plan to spend more. On the blue side, The Conference Board of Canada said its consumer ... [read more]

Hiring Rebounds

Hiring Rebounds

January 10, 2020 | Posted by: Maurice Kwok

Hiring rebounds in December; 2019 among top years for job creation since financial crisis Canada’s labour market added 35,200 jobs in December, rebounding from a November that was the worst mon ... [read more]

Climate change, aging population major economic factors in RBC forecast for 2020s

Climate change, aging population major economic factors in RBC forecast for 2020s

January 6, 2020 | Posted by: Maurice Kwok

A new economic report says the next decade in Canada will increasingly be shaped by the twin forces of climate change and demographic disruption from an aging population. “By 2030, Canada&rsquo ... [read more]

2020 Outlook Bank of Canada

2020 Outlook Bank of Canada

January 3, 2020 | Posted by: Maurice Kwok

An Interview of 8:39: Host: Larysa Harapyn Speaker: Kevin Carmichael, Financial Post. Kevin Carmichael is the National Business Columnist at the Financial Post and a senior fellow at the Centre for ... [read more]

2020 vision: 10 opportunities to give Canada an edge in the coming year

2020 vision: 10 opportunities to give Canada an edge in the coming year

December 19, 2019 | Posted by: Maurice Kwok

We asked entrepreneurs, CEOs and thought leaders to tell us the policies, products and trends that could give Canada an edge in the coming year. Here’s what they told us: 1. Focus on commerci ... [read more]

Bill Morneau’s ‘political minefield’: The Canadian government is so broke that …

Bill Morneau’s ‘political minefield’: The Canadian government is so broke that …

December 17, 2019 | Posted by: Maurice Kwok

Minefield As Bank of Nova Scotia puts it, Bill Morneau’s challenges make for a “political minefield.” The federal finance minister faces extreme pressure trying to pull everything ... [read more]

Canada’s banking regulator raises capital buffer, cites ‘elevated’ risks for sector

Canada’s banking regulator raises capital buffer, cites ‘elevated’ risks for sector

December 10, 2019 | Posted by: Maurice Kwok

Canada’s banking regulator is compelling the country’s major banks to hold more capital, citing “elevated” risks to the banking sector including high household and corporate de ... [read more]

Canadian economy posts worst month for job losses in more than a decade

Canadian economy posts worst month for job losses in more than a decade

December 7, 2019 | Posted by: Maurice Kwok

Canada’s labour market in November recorded its worst month for job losses in more than a decade, the latest sign that employers are stepping back from a strong pace of hiring. The economy shed ... [read more]

Bank of Canada Governor Stephen S. Poloz to step down in June 2020

Bank of Canada Governor Stephen S. Poloz to step down in June 2020

December 6, 2019 | Posted by: Maurice Kwok

The Board of Directors of the Bank of Canada announced today that Governor Stephen S. Poloz has informed them that he will not seek a second term as Governor when his seven-year term expires on June 2 ... [read more]

Jobs slide increases worries of economic slowdown

Jobs slide increases worries of economic slowdown

November 30, 2019 | Posted by: Maurice Kwok

Canada’s job market is showing mounting signs of a slowdown after some of the country’s strongest hiring in years, suggesting a broader economic chill has invaded an area of strength. The ... [read more]

Economy slows in third quarter as Bank of Canada weighs next rate move

Economy slows in third quarter as Bank of Canada weighs next rate move

November 29, 2019 | Posted by: Maurice Kwok

The Canadian economy expanded at an annualized rate of 1.3 per cent in the third quarter on higher business investment and increased household spending, official data showed on Friday, and nearly echo ... [read more]

Canada should quadruple carbon tax to meet 2030 targets, commission says

Canada should quadruple carbon tax to meet 2030 targets, commission says

November 27, 2019 | Posted by: Maurice Kwok

Carbon pricing has the smallest impact on Canada’s economy compared with emissions-reducing policies that rely heavily on regulations or subsidies, according to a report released on Wednesday by ... [read more]

Canadian seniors turning to food banks as housing costs soar

Canadian seniors turning to food banks as housing costs soar

November 16, 2019 | Posted by: Maurice Kwok

High housing costs are resulting in Canadian seniors facing a difficult choice between rent payments and food. A new report from Food Banks Canada has found that seniors are the fastest-growing cohor ... [read more]

Parliamentary Budget Office projects larger deficits amid slower economic growth

Parliamentary Budget Office projects larger deficits amid slower economic growth

November 14, 2019 | Posted by: Maurice Kwok

A new Parliamentary Budget Office forecast says slower economic growth will mean slightly larger deficits in the coming years – even before the minority Liberal government adds on the billions i ... [read more]

Canadian Economy sheds 1,800 jobs in October, unemployment rate stays steady

Canadian Economy sheds 1,800 jobs in October, unemployment rate stays steady

November 8, 2019 | Posted by: Maurice Kwok

OTTAWA -- The number of people working in Canada edged lower in October following two months of big gains as the manufacturing and construction sectors lost jobs. Statistics Canada said Friday the ec ... [read more]

Beijing lifts ban on Canadian beef and pork as swine fever devastates China’s hog farms

Beijing lifts ban on Canadian beef and pork as swine fever devastates China’s hog farms

November 7, 2019 | Posted by: Maurice Kwok

China has reopened its market to imports of Canadian pork and beef after a four-month ban in a move that signals a partial thaw in trade relations and will significantly help Canadian farmers. China ... [read more]

'This is a tragedy for Canada': Fear and dismay as Encana chooses U.S. as its new home

'This is a tragedy for Canada': Fear and dismay as Encana chooses U.S. as its new home

November 1, 2019 | Posted by: Maurice Kwok

CALGARY / EDMONTON – Described as a “tragedy” in a downtrodden industry, one of Canada’s oldest and largest energy companies Encana Corp. is dropping Canada from its name and m ... [read more]

7 reasons Canada could escape economic doom: Don Pittis

7 reasons Canada could escape economic doom: Don Pittis

October 23, 2019 | Posted by: Maurice Kwok

For those looking for some fresh economic bad news last week, it wasn't hard to find. On Friday, the country that is now by some measures the world's biggest economy, China, slump ... [read more]

David Rosenberg pegs Canada's recession odds at 80% in 'crude, condos and cannabis' economy

David Rosenberg pegs Canada's recession odds at 80% in 'crude, condos and cannabis' economy

October 18, 2019 | Posted by: Maurice Kwok

Canada’s economy has been a bright spot in the dimming global economy — but perhaps not for much longer, according to several bold calls at Bloomberg’s Canadian Fixed Income Conferen ... [read more]

Canada continues employment gains trend with 53,700 jobs added in September, outstripping economic growth

Canada continues employment gains trend with 53,700 jobs added in September, outstripping economic growth

October 11, 2019 | Posted by: Maurice Kwok

Canada’s unshakable labour market added another 53,700 jobs in September, building on August’s big gains as full-time jobs surged and wages accelerated. But the hiring binge left economis ... [read more]

Back to the boom: Canadian tech sector posts biggest quarter for financing since the dot-com bubble

Back to the boom: Canadian tech sector posts biggest quarter for financing since the dot-com bubble

October 7, 2019 | Posted by: Maurice Kwok

Canada’s technology sector had one of its strongest showings for venture- and growth-capital financing in the third quarter, as large funds continue to seek bigger investments in private compani ... [read more]

Federal election 2019: Where do the parties stand on taxes and deficits?

Federal election 2019: Where do the parties stand on taxes and deficits?

October 4, 2019 | Posted by: Maurice Kwok

Big, broad-based tax cuts are at the core of both the Liberal and Conservative campaign platforms in 2019. Both parties are also offering voters a buffet of boutique tax breaks, which they highlight ... [read more]

Canada’s economy stalls in July as oil and gas extraction contracts

Canada’s economy stalls in July as oil and gas extraction contracts

October 1, 2019 | Posted by: Maurice Kwok

Canada’s economy was unexpectedly unchanged in July – after four months of growth – as the country’s mining, quarrying and oil and gas extraction sectors contracted, Statistics ... [read more]

Canadian household debt-to-income ratio edges lower in Q2, 2019

Canadian household debt-to-income ratio edges lower in Q2, 2019

September 15, 2019 | Posted by: Maurice Kwok

Household income grew slightly faster than debt in the second quarter of 2019 as the amount Canadians owe relative to their income edged down for the third quarter in a row. Statistics Canada said Fr ... [read more]

Canadian economy adds 81,100 jobs in Aug 2019, five times higher than expectations

Canadian economy adds 81,100 jobs in Aug 2019, five times higher than expectations

September 6, 2019 | Posted by: Maurice Kwok

The Canadian economy gained a larger-than-expected 81,100 net jobs in August, largely driven by increases in part-time work, Statistics Canada data showed on Friday in its last major release of econom ... [read more]

Toronto Still Ranks As One Of The World’s Most Liveable Cities In 2019

Toronto Still Ranks As One Of The World’s Most Liveable Cities In 2019

September 5, 2019 | Posted by: Maurice Kwok

A new report by The Economist Intelligence Unit has named Toronto as the world’s seventh most liveable city for a second year straight. However, Calgary and Vancouver ranked a ... [read more]

Erratic 2016 economy offers clues for turbulent 2017

Erratic 2016 economy offers clues for turbulent 2017

December 29, 2016 | Posted by: Maurice Kwok

One of the great follies of the economics biz invariably takes place at this time of the year: It’s annual-prediction season.  Economists will willingly give them. Journalists will dutiful ... [read more]

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Maurice Kwok
Maurice Kwok, MBA CPA MA
Toronto, Mortgage Broker

Treating Your Mortgage as Mine!