In this edition:
- Tourism spending bounces back to 86.7% of pre-pandemic levels
- Google to remove Canadian content from news, search, and discover products
- New restrictions on advertising to children come into effect
- Number of unfilled jobs ticks down to 790,900, down 8.4% since January
- Inflation has hidden costs that go beyond higher prices, says Bank of Canada
Tourism spending bounces back to 86.7% of pre-pandemic levels
Tourism spending in Canada grew 2.6% in the first quarter, Statistics Canada reported today, due to an increase of 3.5% in domestic tourism spending by Canadian residents. Tourism gross domestic product (GDP) (+2.3%) and jobs attributable to tourism (+2.7%) also rose in the first quarter.
Passenger air transport (+2.9%) contributed the most to the growth in tourism spending in the first quarter, followed by food and beverage (+4.7%) and accommodation (+2.2%) services. As a result of this continued overall growth, tourism spending rose to 86.7% of its level in the fourth quarter of 2019, before the COVID-19 pandemic.
Interested in hearing more on the Government of Canada’s tourism policies and strategies? Join us on July 4th for a luncheon with the Canadian Minister of Tourism, Randy Boissonnault. Space is limited – get your tickets here.
Google to remove Canadian content from news, search, and discover products
Google said Thursday it will remove Canadian news content from its search, news and discover products after a new law meant to compensate media outlets comes into force.
The move to pull news from the world’s most popular search engine could have a devastating impact on Canadian media outlets, which often depend on third parties like Google to get content into the hands of readers.
The decision comes after the government’s contentious C-18 legislation passed Parliament last week. The bill has been criticized by tech giants like Meta and Google who say it’s unfair to impose what amounts to a tax on links.
New restrictions on advertising to children come into effect
Following its introduction in June 2021, the Code and Guide for the Responsible Advertising of Food and Beverage Products to Children is effective from June 28.
Developed over two years by the Association of Canadian Advertisers (ACA), Food, Health and Consumer Products Canada (FHCP), Canadian Beverage Association (CBA) and Restaurants Canada, together with government and a diverse group of stakeholders, the Code and Guide fulfils the objectives of government in restricting advertising of food and beverage product to children.
The Code and Guide sets rules for advertisers of food and beverage products, requiring a responsible approach to child audiences.
Under this new standard, only food and beverages that meet specified nutrition criteria may be advertised in a manner that is primarily directed to children under the age of 13.
The number of employees receiving pay or benefits from their employer—measured as “payroll employees” in the Survey of Employment, Payrolls and Hours—decreased by 25,100 (-0.1%) in April, excluding federal government public administration.
The federal government public administration recorded a decline of 115,200 (-30.5%), which was associated with the strike action in April. Most of this decline is expected to be temporary.
Meanwhile, job vacancies edged down to 790,900 in April. Since January 2023, the overall number of job vacancies has fallen by 72,700 (-8.4%).
Inflation has hidden costs that go beyond higher prices, says Bank of Canada
High inflation is imposing additional costs on businesses and households, which must allocate more time and energy to navigate changing prices, the deputy governor of the Bank of Canada told a central banking conference in Europe this week.
Discussing a recent study on inflation and the misallocation of resources, Bank deputy governor Sharon Kozicki said these additional costs show how price stability is important and “a key ingredient to a prosperous economy.”
Did you know?
Focus on Equity, Diversity and Inclusion
Understanding and supporting neurodivergent workers: CCOHS Corner
Our collective understanding of what it means to be neurodivergent is growing. Employers are recognizing that a neurodiverse workforce can improve workplace productivity and profitability if they take the time to address specific needs and set workers up for success.
The term neurodiversity was coined in 1998 by Judy Singer, an Australian sociologist, to reflect that being neuro-atypical is simply a reflection of the natural variations of the human genome. These variations should be understood and accommodated.
Despite these challenges, neurodiverse workers have unique talents that may give their organizations a competitive advantage. Workers with ADHD may struggle with organization but are often creative and collegial, coming up with innovative ideas and bringing positive energy to a brainstorm session. Many can hyperfocus on projects they’re passionate about but need explicit deadlines for when each aspect of the work should be completed. Workers on the autism spectrum sometimes struggle with eye contact or communication but may be meticulous with details.
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.