In its latest Canadian Outlook, the Conference Board of Canada forecasts that the pace of economic recovery from COVID-19 will flatten, if not stall, between now and mid-2021. “Progress has been made,” said Pedro Antunes, Chief Economist at The Conference Board of Canada. “But we nevertheless expect that localized closures and a retrenchment in some segments of household … Read more
The Conference Board of Canada, in partnership with the Future Skills Centre, has released a new impact paper on ways to advance digital skills among Canada’s apprentices and journeypersons. “Bridging Generational Divides: Advancing Digital Skills in Canada’s Apprenticeships and Skilled Trades Ecosystem” explores the critical skill requirements of tradespeople as they adapt to the future of … Read more
An 8.2 per cent decline in the Canadian economy this year will mark the worst annual contraction on record. Despite the quick and pronounced economic fallout from the pandemic, recovery is underway. A brighter outlook for 2021 is forecast in today’s release of “The Canadian Outlook Summary,” with an economic rebound of 6.7 per cent in 2021 … Read more
The Conference Board of Canada’s Economist, Robyn Gibbard, issued a statement: “Today Statistics Canada released its first-ever figures on government tax revenues from the sale of cannabis products. The numbers have been lower than expected, thanks in part to the bumpy rollout of legalization last fall. However, we think that as the kinks are worked out, … Read more
The Conference Board of Canada released a new report, From NAFTA to CUSMA, which provides an analysis of significant changes and potential implications of CUSMA on the Canadian economy. “CUSMA, from a Canadian perspective, is more about protecting existing NAFTA provisions and ending uncertainty as investors and exporters weighed the possibility that Canada would lose its tariff-free access … Read more
The Conference Board of Canada’s Principal Economist Alicia Macdonald offered insights on the Bank of Canada interest rate decision: “In a move that surprised no one, the Bank of Canada decided to keep its overnight rate steady at 1.75 per cent this morning. Even with the Bank noting that the recent slowdown in economic growth appears temporary, as they had expected, we maintain our view that the Bank will remain on hold into … Read more
The Conference Board of Canada’s Principal Economist Alicia Macdonald offered the following insights on the consumer price index data released May 15: “Total inflation hit 2.0 per cent in April while core inflation growth decelerated to a 1.9 per cent pace, reflecting weaker economic growth. Excess supply is expected to linger in the economy through 2020 keeping inflation in check. As a result, the Bank of Canada will be in … Read more
The Conference Board of Canada published a briefing, Can’t Go it Alone. Immigration is Key to Canada’s Growth Strategy, which “quantifies how immigration is the most powerful fuel to replenish our workforce numbers,” said Pedro Antunes, Chief Economist at the Conference Board of Canada. “These solutions, includingbetter labour market integration for underrepresented groups, identify how to maintain a … Read more
A new Conference Board of Canada report, Working Together: Indigenous Recruitment and Retention in Remote Canada, finds that half of organizations struggle to successfully recruit Indigenous talent due to a mixture of skills gaps and recruitment processes and practices. “Hiring Indigenous employees makes good business sense—particularly within the context of Northern and remote Canada. It also provides an … Read more
The Conference Board’s National Economics Team announced that the Canadian economy is expected to grow by just 1.4 per cent in 2019, and that the March 19 Federal Budget is unlikely to affect the economic outlook. “The weak growth that was evident at the end of 2018 is expected to persist into the first half of 2019. Despite this … Read more
