News
Union says B.C. mill closure leaves workers 'reeling,' as industry woes persist
1+ hour, 51+ min ago (1001+ words) The latest blow to British Columbia's battered forestry sector has prompted industry, union and local officials to call for immediate support, while the forests minister said he expects to announce changes to forest permitting within weeks. The push comes after…...
300 jobs lost as Canfor closes pulp mill outside Prince George, B.C.
1+ day, 1+ hour ago (521+ words) Forestry company Canfor announced Tuesday its plan to permanently close its Northwood pulp mill outside Prince George, B.C., resulting in the loss of 300 jobs. A statement from the Vancouver-based firm said it was committed to supporting its employees, including providing severance…...
Bank of Canada holds key rate steady as confidence grows in economic rebound
1+ day, 1+ hour ago (846+ words) The Bank of Canada held its benchmark interest rate steady for the sixth consecutive time on Wednesday and said it expects the economy to rebound after a rough start to the year. The central bank’s policy rate remains at 2.25 per…...
Bank of Canada holds key rate as Macklem downplays recession talk
1+ mon, 5+ day ago (841+ words) The Bank of Canada held its benchmark interest rate steady for a fifth consecutive decision on Wednesday as it tries to support a turbulent economy without letting prices rise unchecked. Governor Tiff Macklem also said that while the economy is…...
How high pandemic-period immigration papered over the cracks in Canada's economy
1+ mon, 1+ week ago (712+ words) Prime Minister Mark Carney has said that lower immigration under his government helps to explain why Canada's economy has declined for the last two quarters, pushing it into recession territory. While Carney has not said the word "recession" himself when…...
Canada slips into technical recession as economy stalls in Q1: StatCan
1+ mon, 2+ week ago (748+ words) Statistics Canada says economic growth stalled in the first quarter, leading to a second consecutive decline in real gross domestic product. That meets some definitions for a technical recession, though not all economists weighing in on StatCan's Friday report were…...
BoC report estimates U.S. counter-tariffs pushed prices up about 6% last year
2+ mon, 4+ day ago (224+ words) Analysts at the Bank of Canada say prices on goods affected by Ottawa's counter-tariffs against the United States last year were roughly six per cent higher on average than non-tariffed goods. The federal government imposed tariffs of 25 per cent on…...
Here's a quick glance at unemployment rates for March, by province
3+ mon, 6+ day ago (93+ words) Canada's national unemployment rate was 6.7 per cent in March. Here are the jobless rates last month by province (numbers from the previous month in brackets): _ Newfoundland and Labrador 9.5 per cent (9.2) _ Prince Edward Island 7.3 per cent (7.2) _ Nova Scotia 6.6 per cent (7.1) _ New…...
Feds looking at how to 'cushion the blow' as gas prices rise amid Iran war: Carney
3+ mon, 1+ week ago (317+ words) Prime Minister Mark Carney says the federal government is looking at how to support Canadians as oil prices rise amid the ongoing war in the Middle East. Oil prices have surged since the U.S. and Israel attacked Iran on Feb. 28. The…...
Iran war adds new uncertainty to the Bank of Canada's already clouded lens
3+ mon, 4+ week ago (984+ words) The Bank of Canada will be balancing a last-minute flood of economic data with uncertainty around trade and war in the Middle East as it prepares to make its second interest rate decision of 2026 this week. Economists say the central…...