Economy

Unemployment surges again in March

Apr 9, 2009
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Just in time for a heated election campaign, the latest unemployment numbers paint a grim picture for BC. Just a year ago, BC was coasting along with an unemployment rate of just over 4%. By the end of 2008 that had crept up to 5%. And now a truly brutal first quarter that saw the… View Article

A whole lotta waste goin’ on

Apr 3, 2009
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Last week, research I completed for the CCPA was released suggesting that in the last five years alone the forest industry in this province has managed to leave 17.5 million cubic metres of usable wood behind at logging operations. Loaded onto logging trucks, you could fill a cross-Canada convoy just about twice with that material…. View Article

Happy April fools day. Welcome TILMA

Apr 1, 2009
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As of April 1st, the people elected to run our municipalities and school boards had better think twice before they make a decision that might affect the profits of a corporation. On April 1st the Trade Investment and Labour Mobility Agreement (TILMA) between Alberta and British Columbia comes into full force. Its implications are far… View Article

Is the stimulus killing the P3 model?

Mar 27, 2009
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While BC has not formally abandoned the P3 model, there is a notable absence of new P3 projects at a time when billions of dollars are being channeled to infrastructure spending. If P3s really provided value for money and brought the benefits of private sector efficiency and innovation to the delivery of public-sector infrastructure, then… View Article

BC leads country in rising EI claims

Mar 24, 2009
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According to today’s Statscan release, unemployment insurance (EI) claims were up 47% in January 2009 compared to January 2008. This makes BC the leader in Canada when it comes to rising EI claims. I don’t think that was one of the Great Golden Goals. There is a lag in the EI numbers, since the most… View Article

Statscan spins the recession

Mar 20, 2009
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Here is the upbeat take on retail sales from Statistics Canada’s Daily: Retail sales rose 1.9% in January after decreasing 5.2% in December. Sales rose in five of the eight retail sectors, led by a 3.8% increase in the automotive sector. In volume terms, retail sales were up 1.8%. It goes on to report that… View Article

BC’s minimum wage soon tied for Canada’s lowest

Mar 15, 2009
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On April 15th British Columbia officially wins the race to the bottom. That is the day New Brunswick raises its minimum wage to $8.00 an hour. When that happens New Brunswick, PEI and British Columbia will be tied with the lowest minimum wage in Canada. This three-way tie won’t last for long though. On September… View Article

Social assistance caseload way up

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In our pre-budget Reality Check, we noted that a recession would lead to upwards pressure on social assistance expenditures. The 2009 Budget notes that every 1% increase in the temporary assistance caseload increases expenditures by $3.5 million (and $7 million for the disability caseload). During a major recession it would not be unrealistic to project… View Article

The wrong kind of stimulus

Mar 13, 2009
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I am a big fan of stimulus packages for our ailing economy. But my pitch has been that we need to use the occasion to retrofit our economy to be on a more sustainable footing. So it matters a great deal on what we spend those stimulus dollars. If we launch projects that take us… View Article