In this edition:
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- Labour market stats holding steady, Niagara still near record-low unemployment rate
- Job market shows sign of softening, but economists say more needed to stop rate hikes
- Canada extends waiving of tariffs on Ukrainian goods
- Casino Woodbine’s new 5,000-seat concert venue will ‘absolutely’ have negative impact on OLG Stage at Fallsview: Diodati
- Brock and Goodman community event to honour Indigenous business leader
- New funding powers up Niagara College program for Indigenous students
- Niagara Falls looking to crackdown on 1,000 illegal vacation rentals
Labour market stats holding steady, Niagara still near record-low unemployment rate
Niagara’s unemployment rate edged up from 4.4% to 4.5% last month, according to the latest Labour Force Survey data from Statistics Canada. The regional rate still remains well below the provincial rate of 5.2% and the national average of 5%. The local participation rate edged up slightly, indicating more people entering the workforce, while the employment rate also increased, showing that most of them were successful in finding work.
Nationally, overall employment was virtually unchanged in May (-17,000; -0.1%). Employment growth has moderated in recent months and monthly increases averaged 33,000 from February to April. This followed strong employment gains totalling 326,000 from September 2022 to January 2023.
Click here for more visualizations of labour market data.
Click here to access Statistics Canada’s interactive labour market app.
Job market shows sign of softening, but economists say more needed to stop rate hikes
Canada’s unemployment rate ticked up in May for the first time in nine months, but forecasters say the Bank of Canada will have to see more softening in the economy before it takes it takes a step back from raising interest rates.
Statistics Canada reported Friday that a weaker summer hiring season for youth drove Canada’s unemployment rate to 5.2 per cent, up from 5.0 per cent. Overall employment was little changed last month as the economy lost a modest 17,000 jobs.
“Today’s negative print ends a streak of eight months of job gains,” said TD director of economics, James Orlando in a client note.
Canada extends waiving of tariffs on Ukrainian goods
The Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, today announced that Canada will extend the Ukraine Goods Remission Order until June 9, 2024. This will ensure the continued tariff-free import of Ukrainian goods to Canada, including steel and in-quota supply-managed goods.
The Ukraine Goods Remission Order, in force since June 9, 2022, supports the Ukrainian economy by increasing exports to Canada through the temporary and exceptional remission of customs and trade remedy duties on imports of goods originating in Ukraine.
Casino Woodbine’s new 5,000-seat concert venue will ‘absolutely’ have negative impact on OLG Stage at Fallsview: Diodati
Already worried about what a glitzy new, billion-dollar Vegas-style resort and casino in northwest Toronto could mean for the two casinos in Niagara Falls, local officials will have taken note of Great Canadian Entertainment’s announcement Wednesday it has reached an exclusive partnership with Live Nation Canada on a new 5,000-seat concert venue at the Etobicoke site.
Brock and Goodman community event to honour Indigenous business leader
Entrepreneur and consultant Karen MacKenzie will share insight into how she incorporates traditional knowledge of Indigenous ways into the workplace when she’s honoured during Brock University’s third annual Indigenous Leader Speaker Series.
Taking place on National Indigenous Peoples Day, Wednesday, June 21 from 6:30 to 7:30 p.m., the online event is a partnership between Brock’s Indigenous Engagement Office and the Goodman School of Business.
New funding powers up Niagara College program for Indigenous students
A groundbreaking program from Niagara College to support Indigenous students transitioning to postsecondary education will return with an expanded outreach for fall 2023.
The College’s My Path of Worthwhile Educational Re-engagement (MPOWER) program, which was introduced last year to its first cohort of students, was recently approved for more than $59,000 in funding from The Ontario Council on Articulation and Transfer (ONCAT). The agreement came into effect at the beginning of April 2023.
Niagara Falls looking to crackdown on 1,000 illegal vacation rentals
Niagara Falls is raising awareness about rules surrounding its vacation rental properties in the city, saying there are 1000 illegal ones operating in the city.
The illegal vacation rental units are listed on websites like AirBnb, VRBO, and Kijiji.
While rentals are allowed in the city, they must meet three requirements including being located in a Tourist Commercial, General Commercial, or Central Business zone.
Did you know?
The population of Tokyo, Japan is about a million less than the population of Canada.
Focus on Human Resources
How to create a safe work environment for your employees
Ensuring the safety of employees is crucial for any business. If health and safety risks are not addressed, there can be immediate consequences that go beyond employee safety such as legal action, imprisonment, and fines.
The three most common health and safety risks in the workplace include slips and falls, exertion, and workplace harassment or violence, says Wendy Irwin, health and safety consultant at BrightHR Canada.
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
