In this edition:
Statistics Canada: 40% of businesses expect to increase prices
The combination of inflationary pressures, labour challenges and supply chain issues has impacted businesses in a number of different ways. Businesses continued to expect to face a variety of obstacles over the next three months related to rising costs, hiring and recruitment, as well as those related to supply chains.
Many businesses that were facing challenges maintaining inventory levels or acquiring inputs, products and supplies, either domestically or abroad, expected these challenges to worsen in the short term. Over the next three months, half of businesses expected their profitability to remain relatively unchanged, nearly two-fifths expected to increase the prices they charge, and over three-quarters expected their number of employees to remain the same.
Housing markets cooling off sharply
Statistics released by the Canadian Real Estate Association (CREA) show national home sales recorded over Canadian MLS® Systems dropped by 12.6% between March and April 2022. The decline placed monthly activity at the lowest level since the summer of 2020.
While the national decline was led by the Greater Toronto Area (GTA) simply because of its size, sales were down in 80% of local markets, with most other large markets posting double-digit month-over-month declines in April.
“Following a record-breaking couple of years, housing markets in many parts of Canada have cooled off pretty sharply over the last two months, in line with a jump in interest rates and buyer fatigue,” said Jill Oudil, Chair of CREA. “For buyers, this slowdown could mean more time to consider options in the market. For sellers, it could necessitate a return to more traditional marketing strategies.”
Niagara College extends mandatory masking policy
Niagara College’s mandatory masking policy, set to expire at the end of May, has been extended to the mid-term break, June 27-July 1. A modified masking policy will take effect when studies resume July 4.
Under the current policy, medical-grade or three-ply cloth masks are required in all campus buildings.
Further information regarding the modified masking policy will be provided the week of June 20.
Niagara businesses invited to Adopt-a-Road
Government of Canada launches federal apprenticeship service
Today, the Minister of Employment, Workforce Development and Disability Inclusion, Carla Qualtrough was at the Canadian Apprenticeship Forum’s (CAF) 2022 National Apprenticeship Conference to announce the launch of the new, federal Apprenticeship Service. The Government of Canada is investing close to $247 million in 13 projects that will enable small and medium-sized employers (SMEs) to offer apprenticeship training opportunities.
We need a comprehensive plan to rebuild Ontario’s healthcare system
Ontario Chamber of Commerce
Today, Rocco Rossi, President and CEO, Ontario Chamber of Commerce (OCC), released an open letter to the 43rd Parliament of Ontario:
Rebuilding a robust health care system absolutely needs to be your top priority.
The pandemic has made it abundantly clear that we cannot have a strong economy without a resilient health care system. While Ontario’s health care system has faced structural challenges for decades, many were further exacerbated due to COVID-19. Capacity issues, surgical backlogs, labour shortages, and socioeconomic inequities have all been amplified, clearly demonstrating the connection between health and the economy.
The province needs a comprehensive plan to make it happen. A piecemeal approach won’t work. This will require prioritizing a health human resources strategy, tackling deferred surgeries and diagnoses, supporting Ontario’s aging population, actioning on mental health care, delivering permanent virtual care, and preparing for future health crises. In the short-term, we need to make sure we use every tool in our toolbox, from rapid tests and therapeutics for COVID-19, to a strategy prioritizing routine immunizations.
New survey shows no relief from rising costs for businesses ahead of BOC rate announcement
Canadian Chamber of Commerce
The Chief Economist of the Canadian Chamber of Commerce, Stephen Tapp, issued the following statement on the latest results from today’s data release of the Canadian Survey on Business Conditions (CSBC), a Canadian Chamber of Commerce/Statistics Canada initiative.
“The top obstacles for Canadian businesses continues to be rising input costs, difficulties hiring workers, and supply chain challenges. Rising costs remain by far the number one obstacle for Canadian business right now,” said Tapp. “These cost pressures will continue to fuel inflation, which will add further pressure for the Bank of Canada to continue raising interest rates at a super-sized pace in their attempt to bring inflation under control,” he added.
The Election Section
Niagara poll tracker
Provincial poll tracker
The 338Canada project is a statistical model of electoral projections based on opinion polls, electoral history, and demographic data.
GNCC election platform
The GNCC asks that the next Government of Ontario support more and better housing by requiring municipalities to end exclusionary zoning and tackle the “missing middle” in housing to tackle the housing crisis. Development tends to focus on single-family homes and high-rises; what is missing are the duplexes, low- and mid-rise dwellings that offer affordable options and efficient use of land. The next Government of Ontario should work with municipalities to enable the development of more housing options.
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.