Tag Archives: recession
The recession is over. Cue the painful recovery
The recession is over, but not the pain. Canada’s central bank predicted Thursday that the economy would expand this quarter, suggesting the economic contraction lasted for about nine months, considerably shorter than the previous two recessions in the early 1990s and the early 1980s. The Bank of Canada’s reassessment of the state of the economy [...]
Full StoryEmployment surprise: Canada adds jobs in April
The Canadian economy saw an unexpected increase in jobs during April, despite a deepening economic recession, leaving the unemployment rate at 8%. Statistics Canada said 35,900 positions were added during the month, driven by an increase in self-employment. “Despite this increase, overall employment has fallen by 321,000 since the peak in October 2008,” the federal [...]
Full StoryRecessions breed new generation of entrepreneurs
Peter J. Thompson/National PostKunal Gupta, chief executive of Polar Mobile. Despite the economic gloom and waning confidence in corporate Canada, young people, fuelled with ambition, are choosing to take a risk and launch their own business. Organizations that provide resources and funding report a marked increase in applications and interest by prospective entrepreneurs. “Many from [...]
Full StoryAlberta slips into recession
Falling stock prices and energy revenues have hit Alberta hard, and the debt-free province is now expected to post a $1-billion deficit – its first budget shortfall in 15 years. It’s a major reversal from even last August, when government officials were projecting Alberta would rake in an $8.5-billion surplus by the end of the [...]
Full Story91% of Canadians say country is in recession
Nine out of 10 Canadians believe the economy is now in recession, while more than half say conditions will worsen over the next year, a poll released Wednesday said. They just don’t think it will affect them. Some 91% of respondents in an opinion poll from market research firm Pollara said the country was already [...]
Full StoryOntario, Quebec to be hit hardest by recession
Canada, like the rest of the world, faces strong economic headwinds in the coming year, the country’s largest business group says in a forecast released today. But it is uncertain just how bad those headwinds will be, the Canadian Chamber of Commerce added. “As the dramatic changes to the global economy in the latter part [...]
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