In this edition:
- Canada posts meager job gains, unemployment rate climbs to 5.7%
- SLSMC announces ratification of collective agreement
- Auditor general to probe Doug Ford’s controversial scheme to redevelop Ontario Place
- Grimsby opens 2024 budget survey
- NPCA’s 2024 budget will help relationship with City of Hamilton: councillor
- Burger King plans on making all locations 100% digital: RBI CEO
- Focus on Finance & Economy
Canada posts meager job gains, unemployment rate climbs to 5.7%
Canada’s labour market posted its weakest job gain in more than a year and the unemployment rate rose to a 21-month high, adding to evidence the nation’s economy is weakening.
The country added 17,500 jobs in October, while the jobless rate rose 0.2 percentage points to 5.7 per cent, the fourth monthly increase in the past six months, Statistics Canada reported Friday in Ottawa. The figures missed expectations for a gain of 25,000 positions and a jobless rate of 5.6 per cent in a Bloomberg survey of economists.
Wage growth for permanent employees slowed to 5 per cent, missing expectations for a 5.2 per cent gain, but still the fourth straight month of pay raises of 5 per cent or more.
SLSMC announces ratification of collective agreement
The St. Lawrence Seaway Management Corporation (SLSMC) has announced the ratification of a three-year collective agreement with its 360 unionized employees represented by Unifor.
“The collective agreement reflects the important contributions Seaway employees make every day to keep this critical transportation corridor moving and delivering for local, regional and binational economies,” said SLSMC president and CEO Terence Bowles. “In particular we thank employees for their hard work and cooperation in recent days to support the safe and efficient reopening of the Seaway to shipping traffic.”
The SLSMC stated that since the resumption of navigation at 7 a.m. on October 30, “SLSMC teams have worked together with marine industry partners to clear the backlog of waiting vessels throughout the system,” with the re-opening plan fully implemented on Nov. 1.
Auditor general to probe Doug Ford’s controversial scheme to redevelop Ontario Place
Fresh from exposing Premier Doug Ford’s $8.28-billion Greenbelt land swap scandal, the provincial auditor general is now probing the Ontario Place redevelopment.
The independent legislative officer confirmed Friday a value-for-money audit was under way into Ford’s controversial scheme to revamp the province’s waterfront park with a new spa and a relocated Ontario Science Centre.
“I can confirm that the office of the auditor general is conducting audits for both Ontario Place and the Ontario Science Centre,” said Becky Fong, the watchdog’s manager of strategic communications and engagement.
Grimsby opens 2024 budget survey
The Town of Grimsby is planning the 2024 budget, and they’re looking for resident input.
The survey, which opened in October and closes on Nov. 19, will help guide town staff when crafting the draft capital and operating budgets for next year, which are supposed to go before council at the end of January.
The survey includes questions on how residents feel about bylaw enforcement, library services, water and wastewater services, road maintenance and more.
It also asks residents if the town had additional funds to invest, where would they like to see the funds go?
Fill out the survey by visiting letstalkgrimsby.ca.
NPCA’s 2024 budget will help relationship with City of Hamilton: councillor
The Niagara Peninsula Conservation Authority’s 2024 budget will go a long way toward repairing a sometimes contentious relationship with the City of Hamilton, according to one local councillor.
“Councillors in Hamilton will be very pleased,” said Stoney Creek Coun. Brad Clark, one of three Hamilton representatives on the authority’s board of directors.
The board approved at their Oct. 27 meeting a levy increase for Hamilton of 2.68 per cent, or about $1.9 million for 2024. In 2023, the city’s levy apportionment was $1.85 million.
Burger King plans on making all locations 100% digital: RBI CEO
Burger King lovers will soon be able to order, purchase and receive a Whopper without interacting with another human.
The CEO of Toronto-based Restaurant Brands International (RBI), which owns fast food chains Burger King, Tim Hortons and Popeyes, told BNN Bloomberg on Friday that all Burger King locations worldwide will eventually be 100 per cent digital.
“It’s better for the guests, because they have a better guest experience, it’s better for our team members, because it reduces the stress that they feel in some of the interactions and allows them to focus on delivering a great product and great experience,” Josh Kobza said in the television interview.
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Focus on Finance and Economy
Canada has entered a period of economic slowing: Economists
Canada’s unemployment rate climbed while job gains came in weaker than forecasted, indicating that the country’s economy is slowing, economists say.
Canada added 17,500 jobs in October, the majority of which were part-time positions, while the unemployment rate ticked higher to 5.7 per cent from 5.5 per cent the month prior, according to data released by Statistics Canada on Friday.
“This solidifies that view that yes we are in a period where economic activity is slowing,” Dawn Desjardins, chief economist at Deloitte Canada, told BNN Bloomberg in an interview on Friday.
Desjardins explained that the slightly weaker-than-expected job gains are a reflection of the Bank of Canada’s rate hikes and are in line with a general softness in consumer and business spending.
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