Employment minister Jason Kenney has reached a deal on the Canada Job Grant program with all provinces except Quebec. Provinces will have flexibility to contribute to the grant using money they receive from the federal government for other programs.
Canada's annual real GDP growth of 2.9% in Q4 beats expectations, reversing the falling Canadian dollar and further interest rate cuts. Statistics Canada also reports a 2.0% increase of real gross domestic income, compared to 1.5% in 2012. Severe weather in Q4 likely contributed to an increase in business inventory, most notably in motor vehicles.
The Royal Bank of Canada says the ability of Canadians to keep up with housing costs has been improving of late, but warns that's about to change. "RBC anticipates that as longer-term interest rates begin to moderately rise, the costs of owning a home at market value will gradually outpace (growth) household incomes by late-2014, leading to strained affordability in several markets across Canada, much like the trend in Toronto." RBC chief economist Craig Wright.
ManpowerGroup ranked #1 in the Temporary Help category in Fortune magazine's 2014 World’s Most Admired Companies. ManpowerGroup led in every area, including: quality of products and services, innovation, employee talent, social responsibility, quality of management, financial soundness, long-term investment value, and use of corporate assets.
January 2014 saw an inflation rate of 1.5%, the largest single increase since summer 2012.
Net worth of Canadian family units with two or more persons in 2012 has increased to $243,800 – a 44.5% since 2005 and near 80% since 1991 – based on a Statistics Canada study.
According to statistic Canada, 514,200 people were receiving employment insurance in December 2013 with little change since May 2013. However, prior to this there was a downward trend that began in summer 2009.
Opportunities in the Yukon: with an unemployment rate of 6.3%, the third lowest unemployment rate in Canada, it has enjoyed ten successive years of economic growth, with an expected growth rate of nearly 6% next year, according to the Conference Board of Canada.
Canada received praised for its retirement system but has moved from 13th to 14th in a global ranking of retirement welfare. The survey report stated that "Canada's performance in the finances in retirement sub-index is particularly outstanding, as it has increased its ranking."
Target has posted a loss of $941 million from its operations in Canada. The company is struggling to get its footing as its initial plan for Canada didn't quite take off.
The Canadian middle-class dream is considered a myth by an internal government report, stating that "over the medium term, middle-income Canadians are unlikely to move to higher income brackets making the Canadian dream more myth than reality."
Canadian organizations spent $705 on learning and development per employee in 2012-2013, a 2.47% increase compared to 2010, but still far behind the 1993 peak at $1,207 according to the Conference Board of Canada. Although leadership development is a priority among 60% of organizations, only about one in three believed their practices are effective.
TransUnion: Canadians are on target to hit an all-time non-mortgage debt of $28,853 by the end of 2014. Those who live in Vancouver saw the largest increase in debt to $41,077 while Montreal reduced its average debt to $18,563, the lowest of all cities.
Compared to other Canadians, more Ontarians expect to look for a new job in 2014, and more of them believe the search will be more difficult compared to last year. The recent survey of over 2,000 workers also revealed that they are more optimistic in their organization's performance and in receiving a pay increase this year.
Relying on big data to streamline talent sourcing and recruitment is the best strategy to pursue where talent shortage and skills gap are severe. Among other staffing trends in 2014, The Staffing Stream also reports that mobile recruitment is no longer optional.
Workforce mobility will play a major role in the construction industry's changing demands in the coming year. Shifts include unprecedented growth in the non-residential, industrial and civil engineering sectors, and resource projects moving further to remote locations.
Skill shortage beyond the trades: job opportunities abundant in Saskatchewan's manufacturing sector. Majority of manufacturers polled by the Canadian Manufacturers & Exporters expect to grow their workforce.
As a part of the 1,700 recently announced layoffs, Bombardier is moving some of its human resources operations to Mexico. "Everything we're doing right now is about cost savings so it's about streamlining processes," said spokeswoman Haley Dunne.
In response to the 2014-2015 budget, Quebec Finance Minister Nicolas Marceau said he would quickly create legislature to allow locally-headquartered companies defend themselves from hostile takeovers.
The Bank of Montreal host posted 1st quarter profits of $1.06 billion. This is up 2% from a year earlier and marks the beginning of 1st quarter earing reports.
JPMorgan Chase plans to cut 8,000 jobs in 2014 to control cost due to the shrinking of its mortgage business. However, the bank would also be adding 3,000 jobs in other areas this year.