In this edition:
- Niagara unemployment rate hits new record low of 4%
- Chair Bradley to make historic announcements at 2023 State of the Region
- Ontario government introduces Helping Homebuyers, Protecting Tenants Act
- Niagara-on-the-Lake approves 2023 budget, increases levy by 8.25%
- Philanthropist Jim Pattison donates $5 million toward new south Niagara hospital
- IMF chief says the world economy is expected to grow less than 3% this year
- Former St. Catharines General Hospital site development to be reviewed at public meeting
Niagara unemployment rate hits new record low of 4%
The unemployment rate in Niagara fell to a new record low of 4% in March, now over a full percentage point lower than either Ontario (5.1%) or Canada (5%). The size of the overall labour force remained almost unchanged at 231,200, as 600 workers left the ranks of the unemployed to find work.
Nationally, transportation and warehousing, business, building and other support services, and finance, insurance, real estate, rental and leasing all saw substantial gains. At the same time, employment declined in construction, “other services” (which includes personal and repair services), and natural resources.
Click here to access Statistics Canada’s interactive Labour Force Survey app.
Click here for more visualizations of Niagara’s labour market.
Chair Bradley to make historic announcements at 2023 State of the Region
At his State of the Region address on April 12, Niagara Regional Chair Jim Bradley will make a number of announcements regarding key issues facing Niagara.
The event, powered by PenFinancial Credit Union, will feature the annual Chair’s address, followed by a fireside chat with Tim Denis, including audience questions.
Tickets are limited and potential attendees are advised to book now to avoid disappointment.
Ontario government introduces Helping Homebuyers, Protecting Tenants Act
Today, the Ontario government introduced the Helping Homebuyers, Protecting Tenants Act which, if passed, aim to further strengthen homebuyer protections, support tenants and streamline the rules around land-use planning.
The Helping Homebuyers, Protecting Tenants Plan includes:
- A $6.5 million investment to appoint additional adjudicators at the Landlord and Tenant Board
- Further strengthening protections against evictions
- Expanding deposit insurance for First Home Savings Accounts to Ontario at credit unions
- Freezing 74 different provincial fees at the 2023-2024 level
- Speeding up government approval processes by updating the Provincial Policy Statement, 2020 and integrating it with A Place to Grow: Growth Plan for the Greater Golden Horseshoe to create a single, provincewide, housing-focused land use planning policy document.
Niagara-on-the-Lake approves 2023 budget, increases levy by 8.25%
On April 4, Niagara-on-the-Lake Town Council approved the 2023 Budget.
Key figures from the 2023 Niagara-on-the-Lake Budget include a capital budget of $9.7 million, an operating budget of $43.9 million, and an operating levy of $15 million, resulting in an approximate increase of $100.83 annually for the average homeowner with an assessment of $541,000. This represents an 8.25% increase.
Philanthropist Jim Pattison donates $5 million toward new south Niagara hospital
Well-known philanthropist and business mogul Jim Pattison has pledged $5 million to a campaign supporting the future Niagara Falls hospital.
Niagara Health Foundation announced Thursday in a press release that Pattison, whose company owns attractions in Niagara Falls, made the pledge to the It’s Our Future fundraising effort to benefit the hospital to be built at Montrose and Biggar roads.
IMF chief says the world economy is expected to grow less than 3% this year
The International Monetary Fund chief said on Apr. 6 that the world economy is expected to grow less than 3% this year, down from 3.4% last year, increasing the risk of hunger and poverty globally.
Kristalina Georgieva said the period of slower economic activity will be prolonged, with the next five years of growth remaining around 3%, calling it “our lowest medium-term growth forecast since 1990, and well below the average of 3.8% from the past two decades.”
Former St. Catharines General Hospital site development to be reviewed at public meeting
A rescheduled open house to look over a proposed development at the former St. Catharines General Hospital site is set for tonight.
The open house at St. Catharines Collegiate will give residents a chance to look over a proposed development that includes splitting the Queenston Street property into areas that include four buildings between 11 and 16 storeys alongside some townhouses.
Focus on Equity, Diversity & Inclusion
Corporate management: Women are losing ground and need to be more strategic, but the culture must also change
Management consulting firm McKinsey recently released its eighth study on the advancement of women in the corporate world (Women in the Workplace 2022). Although it focuses on large U.S. companies, many of its findings point to a future where women’s representation in senior management positions will become increasingly rare, and where women will need more stamina, perseverance and fighting spirit to hold on to these positions.
Who will lose in this future? Women, men and society as a whole.
When should your company weigh in on hot-button issues?
For leaders in today’s volatile, media-saturated world, communication is not a soft skill, but a rock-hard, essential competency. One of the trickiest questions they face: Should we, as a company, take a position on a current event or issue? In the following excerpt from her new book, Pfizer Chief Corporate Affairs Officer Sally Susman provides a framework to help.
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.