Business
US stocks drop after strong wage gains fan inflation worries
By Elaine Kurtenbach And Matt Ott, The Associated Press on December 2nd, 2022
NEW YORK (AP) – Stocks are opening lower and Treasury yields are snapping higher after the government reported that wages for U.S. workers are accelerating faster than expected. Friday’s report raised concerns that inflation may prove to be even stickier than feared, which could hinder the Federal Reserve from easing back on its big interest-rate ... Read More »
Be the first to comment!Here’s a quick glance at unemployment rates for November, by Canadian city
By The Canadian Press on December 2nd, 2022
OTTAWA – The national unemployment rate held steady at 5.1 per cent in November. Statistics Canada also released seasonally adjusted, three-month moving average unemployment rates for major cities. It cautions, however, that the figures may fluctuate widely because they are based on small statistical samples. Here are the jobless rates last month by city (numbers ... Read More »
Be the first to comment!Here’s a quick glance at unemployment rates for November, by province
By The Canadian Press on December 2nd, 2022
OTTAWA – Canada’s national unemployment rate held steady at 5.1 per cent in November. Here are the jobless rates last month by province (numbers from the previous month in brackets): _ Newfoundland and Labrador 10.7 per cent (10.3) _ Prince Edward Island 6.8 per cent (5.4) _ Nova Scotia 6.0 per cent (6.7) _ New ... Read More »
Be the first to comment!National employment numbers for November from Statistics Canada, at a glance
By The Canadian Press on December 2nd, 2022
OTTAWA – A quick look at Canada’s November employment (numbers from the previous month in brackets): Unemployment rate: 5.1 per cent (5.2) Employment rate: 61.5 per cent (61.6) Participation rate: 64.8 per cent (64.9) Number unemployed: 1,049,600 (1,073,400) Number working: 19,666,300 (19,656,200) Youth (15-24 years) unemployment rate: 10.3 per cent (10.6) Men (25 plus) unemployment ... Read More »
Be the first to comment!New York court issues liability ruling against CIBC in Cerberus lawsuit
By The Canadian Press on December 2nd, 2022
TORONTO – CIBC says a New York court has issued a liability ruling against the Canadian bank in a lawsuit brought by Cerberus Capital Management LP. Cerberus filed the lawsuit in November 2015. The case related to an October 2008 transaction in which CIBC issued a limited recourse note to Cerberus specifying certain payment streams, ... Read More »
Be the first to comment!US hiring stayed strong in November as employers add 263,000
By Christopher Rugaber, The Associated Press on December 2nd, 2022
WASHINGTON (AP) – The nation’s employers kept hiring briskly in November despite high inflation and a slow-growing economy – a sign of resilience in the face of the Federal Reserve’s aggressive interest rate hikes. The economy added 263,000 jobs, while the unemployment rate stayed 3.7%, still near a 53-year low, the Labor Department said Friday. ... Read More »
Be the first to comment!Unemployment rate drops slightly to 5.1% in November: Statistics Canada
By The Canadian Press on December 2nd, 2022
OTTAWA – Statistics Canada says employment was little changed in November as the economy added a modest 10,000 jobs. In its latest labour force survey, the federal agency says Canada’s unemployment rate fell slightly to 5.1 per cent last month. Employment rose in several industries, including finance, insurance, real estate, rental and leasing, manufacturing and ... Read More »
Be the first to comment!CWB Financial Group reports Q4 profit down from year ago, raises dividend
By The Canadian Press on December 2nd, 2022
EDMONTON – CWB Financial Group raised its dividend and reported its fourth-quarter profit fell compared with year ago as its provision for credit losses rose. The bank says it upped its quarterly dividend by a penny to 32 cents per share. The increased payment to shareholders came as CWB reported common shareholders’ net income of ... Read More »
Be the first to comment!Musk says Twitter has suspended rapper Ye over swastika post
By Associated Press, The Associated Press on December 2nd, 2022
Twitter has suspended rapper Ye after he tweeted a picture of a swastika merged with the Star of David. It is the second time this year that Ye has been suspended from the platform over antisemitic posts. Twitter CEO Elon Musk confirmed the suspension by replying to Ye’s post of an unflattering photo of Musk. ... Read More »
Be the first to comment!Statistics Canada to release November jobs numbers this morning
By The Canadian Press on December 2nd, 2022
OTTAWA – Statistics Canada is set to release its latest jobs report this morning. The November labour force survey will provide insight on the state of the labour market and unemployment last month. Forecasters were taken by surprise when the economy added 108,000 jobs in October. RBC says it expects the economy added 5,000 jobs ... Read More »
Be the first to comment!Profits in 15 sectors, including oil and gas, driving bulk of inflation: report
By Rosa Saba, The Canadian Press on December 2nd, 2022
A new report by the Centre for Future Work found that growth in corporate profits this year compared to pre-pandemic has been concentrated in a small number of sectors where consumer prices have also risen the fastest. Report author and economist Jim Stanford analyzed the profits of the 52 business sectors tracked by Statistics Canada, ... Read More »
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