Business
Here’s a quick glance at unemployment rates for January, by province
By The Canadian Press on February 10th, 2023
OTTAWA – Canada’s national unemployment rate held steady at 5.0 per cent in January. Here are the jobless rates last month by province (numbers from the previous month in brackets): _ Newfoundland and Labrador 11.8 per cent (10.1) _ Prince Edward Island 7.7 per cent (5.7) _ Nova Scotia 5.0 per cent (6.2) _ New ... Read More »
1 responseNational employment numbers for January from Statistics Canada, at a glance
By The Canadian Press on February 10th, 2023
OTTAWA – A quick look at Canada’s January employment (numbers from the previous month in brackets): Unemployment rate: 5.0 per cent (5.0) Employment rate: 62.5 per cent (62.1) Participation rate: 65.7 per cent (65.4) Number unemployed: 1,046,000 (1,043,400) Number working: 20,032,300 (19,882,300) Youth (15-24 years) unemployment rate: 9.5 per cent (9.7) Men (25 plus) unemployment ... Read More »
1 responseWall Street difts, heading for worst week since December
By Yuri Kageyama And Matt Ott, The Associated Press on February 10th, 2023
NEW YORK (AP) – Stocks are drifting Friday as Wall Street heads toward the close of its worst week since December. The S&P 500 was 0.2% lower in early trading and on pace for a 1.5% loss for the week. The Nasdaq composite was 0.5% lower and the Dow Jones Industrial Average was just barely ... Read More »
1 responseTight labour market persists as Canadian economy adds 150,000 jobs in January
By The Canadian Press on February 10th, 2023
OTTAWA – Employment growth in Canada blew past economists’ predictions in January, even as forecasters had expected higher interest rates to weigh on the labour market. The economy added a whopping 153,000 jobs last month, Statistics Canada said in its latest labour force survey released Friday. The country’s unemployment held steady at five per cent, ... Read More »
1 responseCanadian economy adds 150,000 jobs in January, unemployment holds steady at 5%
By The Canadian Press on February 10th, 2023
OTTAWA – Statistics Canada says the economy added a whopping 150,000 jobs in January. With 153,000 people joining the labour force last month, the unemployment rate held steady at five per cent, hovering just above the record low of 4.9 per cent. Job gains were made across sectors, with wholesale and retail trade experiencing the ... Read More »
Be the first to comment!Enbridge reports $1.1B Q4 loss as it takes $2.5B goodwill impairment charge
By The Canadian Press on February 10th, 2023
CALGARY – Enbridge Inc. reported a loss of $1.1 billion in its latest quarter as it took a $2.5-billion non-cash goodwill impairment charge related to its gas transmission business as a result of what it said was the increased cost of capital. The pipeline company says the loss amounted to 53 cents per share for ... Read More »
Be the first to comment!Gas and power utility Fortis reports $370M Q4 profit, up from $328M a year earlier
By The Canadian Press on February 10th, 2023
ST. JOHN’S, N.L. – Fortis Inc. reported a fourth-quarter profit of $370 million, up from $328 million a year earlier. The gas and power utility says the profit for the quarter amounted to 77 cents per diluted share for the quarter ended Dec. 31, up from 69 cents per diluted share in the last three ... Read More »
Be the first to comment!Magna reports US$95M Q4 profit, down from US$464M a year earlier; sales up
By The Canadian Press on February 10th, 2023
TORONTO – Magna International Inc. reported its fourth-quarter profit fell compared with a year earlier as its sales gained five per cent. The auto parts company, which keeps its books in U.S. dollars, says it earned US$95 million or 33 cents per share in the quarter ended Dec. 31, down from US$464 million or US$1.54 ... Read More »
Be the first to comment!Russia says it will cut oil production over Western caps
By The Associated Press on February 10th, 2023
FRANKFURT, Germany (AP) – Russia will cut oil production by 500,000 barrels per day next month in response to the West capping the price of its crude over the war in Ukraine, Deputy Prime Minister Alexander Novak said Friday, according to multiple Russian news media reports. “As of today, we fully sell all our crude ... Read More »
Be the first to comment!Statistics Canada to release January jobs report this morning
By The Canadian Press on February 10th, 2023
OTTAWA – Statistics Canada is set to release its latest reading on the labour market this morning. The federal agency will release its labour force survey for January. The December report showed a gain of 104,000 jobs and an unemployment rate of 5.0 per cent, slightly above the record-low of 4.9 per cent reached in ... Read More »
Be the first to comment!UK economy stagnates during final three months of 2022
By The Associated Press on February 10th, 2023
LONDON (AP) – The British economy stagnated in the final three months of last year, offering little help for 7 million households expected to struggle to pay food and energy bills. The Office for National Statistics said Friday there was no growth in gross domestic product during the fourth quarter of 2022. However, the economy ... Read More »
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