Dollar continues to hover near par
The Canadian dollar continued to straddle parity with the U.S. currency Wednesday. Shortly after 10 am E.T., the loonie was trading at 99.97 cents U.S., up .09 of a cent from Tuesday’s close. It rose as high as 100.03 cents US earlier Wednesday, a day after it moved above parity with the greenback for the […]
Canada Targets Asylum Laws
Canada’s immigration minister proposed sweeping changes to the country’s asylum legislation on Tuesday, aiming to help clear a multiyear backlog in processing refugee applications and stem a recent inrush of claimants. The overhaul would address an asylum system considered one of the fairest and most generous in the world—but that is now clogged by cases […]
Visible minority population on the rise
A new report from Statistics Canada indicates that Canada’s visible minority population will soon be the majority in some cities. The report shows that in 20 years, about 30% of Canadians will be visible minorities and in Toronto and Vancouver, about two thirds of the population will be non-white. StatsCan says Calgary’s visible minority population […]
Economists boost growth forecasts
A string of stronger-than-expected reports are prompting some economists to revisit their forecasts for the strength of the recovery. Some are now pencilling in higher forecasts after recent reports showed strength in manufacturing and wholesale trade, while retail sales continue to climb. Bank of Montreal, for example, boosted its forecast for Canada’s first-quarter gross domestic […]
Possible Changes to Skilled Worker Category?
On March 16, Citizenship, Immigration and Multiculturalism Minister Jason Kenney launched consultations to identify how immigration can best respond to Canada’s new and emerging labour market needs. The Government of Canada is seeking the views of Canadians on how to help lead Canada to full economic recovery from the global recession. These consultations will look […]
Canada’s growth gears up from sub-par to ‘astonishing’
After struggling to achieve takeoff last summer, it turns out that Canada’s economy blasted ahead in the fourth quarter at a pace that defied all expectations. Its five-per-cent annualized growth rate was the strongest in nine years, said Statistics Canada Monday. This surge of growth, which eclipsed the 3.3 per cent advance expected by the […]