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Economic analysts stated that the tariffs would drastically impact the Canadian energy sector due to Canada supplying the United States with 20% of its consumed oil, and providing the heavy crude oil for two-thirds of Midwest oil refineries and 90% of those in Rocky Mountain states.
The COVID-19 pandemic had a deep impact on the Canadian economy, leading it into a recession. The government's social distancing rules had the effect of limiting economic activity in the country. Companies started mass layoffs of workers, and Canada's unemployment rate was 13.5 percent in May 2020, the highest it has been since 1976. [1]
In a June 7, 2008 article in The Globe and Mail, Heather Scoffield wrote that for the first time since 1982, Canada's unemployment rate was lower than that of the United States. Scoffield said that this indicated that the economic recession was "less painful in Canada" where the May unemployment rate was 6.1% while the US rate was 5.5%. [37]
OTTAWA (Reuters) -The abrupt resignation of Canada's finance minister leaves the government adrift less than a month before the inauguration of a new U.S. administration that could impose ...
The Canadian dollar edged higher against its U.S. counterpart on Friday but was still headed for a weekly and monthly decline as domestic gross domestic product data bolstered bets for an outsized ...
The role of chief federal coordinator on U.S. relations now passes to Dominic LeBlanc, the new finance minister, who flew with Trudeau to Florida late last month to meet Trump.
[11] [12] The Governing Council continued to predict ongoing increase on the interest rate due to global economics and inflation. [12] The IMF estimates that without Canada’s COVID-19 economic response, “real output would have declined by an additional 7.8 percentage points in 2020 and the unemployment rate would have been 3.2 percentage ...
PSAC strikers outside a CRA office in Surrey, British Columbia. On April 7, the CRA bargaining group voted to enter a legal strike position. [21] On April 12, the national president of PSAC, Chris Aylward, announced that the Treasury Board bargaining unit had voted overwhelmingly in favour of entering into a legal strike position, thus granting the group a 60-day window to initiate a labour ...