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The Canadian central bank had expected productivity, or output per hour worked, to improve as the economy recovered from the COVID-19 pandemic. Instead, it has fallen in eleven of the last 12 quarters, taking it back to its 2016 level. It also stands to add to unit labor costs, a key measure of inflation pressures coming from higher wages. "Our own forecast is that productivity growth will turn around, but that is a risk to the outlook and if productivity growth continues declining it will make it more difficult to get inflation back to target," Macklem said. The central bank has forecast that inflation will return to its 2% target in the middle of 2025.

Persons: Macklem, Derek Holt, tightens, Holt, Dennis Darby, Doug Porter, Fergal Smith, Steve Scherer, Deepa Babington Organizations: Bank of Canada, Reuters Graphics Reuters, BoC, Scotiabank, Federal Reserve, Canadian Manufacturers, Fraser Institute, BMO Capital Markets, Thomson Locations: Canadian, Canada, freefall, United States, Toronto, Ottawa

☆ Canada risks more than C$50 billion in clean tech as incentives in limbo
▼ + stars: | 2023-09-18 | by ( Steve Scherer | ) www.reuters.com time to read: +4 min

OTTAWA, Sept 18 (Reuters) - More than a year after Canada first announced incentives to jumpstart clean technology projects there is still no money flowing, and if they are not in place soon, more than C$50 billion ($37 billion) in investments could be at risk, industry groups said. The government "urgently needs to get as much of this out the door this fall as possible." Masterson says there are "well beyond C$25 billion of proposed investments" in more than a dozen projects in his industry that are waiting for the incentives. An additional C$17 billion in ITCs for clean hydrogen, electricity and manufacturing were announced six months ago and those are at an earlier stage. Adam Auer, president of Cement Association of Canada, said his members have "billions" in projects that are waiting on the ITCs.

Persons: Justin Trudeau's, Bob Masterson, Masterson, Trudeau, Dennis Darby, Darby, Adam Auer, Rachelle Schikorra, Steve Scherer, Timothy Gardner Organizations: Canada, Justin Trudeau's Liberal, Chemistry Industry Association of Canada, Canadian Manufacturers, CME, Cement Association of Canada, Dow Chemicals, Reuters, Thomson Locations: OTTAWA, United States, U.S, Exshaw , Alberta, Canada, Fort Saskatchewan , Alberta

☆ Canada's port workers union leadership backs new contract deal
▼ + stars: | 2023-07-21 | by ( Steve Scherer | ) www.reuters.com time to read: +2 min

OTTAWA, July 21 (Reuters) - Canada's Pacific dock workers' union leadership on Friday backed a tentative contract agreement with employers and will recommend the ratification of the contract to members, likely ending a standoff that led to a 13-day strike. On Tuesday, "there will be a stop work meeting ... to recommend the Terms of Settlement to the membership," the International Longshore and Warehouse Union (ILWU) said in a statement on its Web site. Leadership had been due to vote on Friday on whether to recommend ratification. That strike ended last week with a tentative deal that was rejected by union leadership on Tuesday. But the ILWU then withdrew its strike notice on Wednesday, leaving the talks in what the British Columbia Maritime Employers Association (BCMEA) said was a "fluid and unpredictable situation."

Persons: Prince Rupert, Steve Scherer, Aishwarya Nair, Ismail Shakil, Nick Zieminski, Grant McCool Organizations: OTTAWA, Warehouse Union, Leadership, British Columbia Maritime Employers Association, Canadian Manufacturers, Thomson, & ' $ Locations: British, Vancouver, Ottawa, Bengaluru

☆ Canada's port workers again announce tentative deal with employers
▼ + stars: | 2023-07-21 | by ( Steve Scherer | ) www.reuters.com time to read: +2 min

OTTAWA, July 21 (Reuters) - Canada's Pacific dock workers' union said it reached a new tentative contract agreement with employers and that its leadership would vote on Friday on whether to put the deal up for ratification by members. The local unit represents 3,000 of the 7,500 dock workers who went on strike for 13 days earlier this month. A ILWU source confirmed that the entire union leadership, and not just the Local 502, would vote on whether to ask for ratification. That strike ended last week with a tentative deal that was rejected by union leadership on Tuesday. But the ILWU then withdrew its strike notice on Wednesday, leaving the talks in what the British Columbia Maritime Employers Association (BCMEA) said was a "fluid and unpredictable situation."

Persons: Seamus O'Regan's, Prince Rupert, Steve Scherer, Aishwarya Nair, Ismail Shakil, Shilpi Majumdar, Frances Kerry, Nick Zieminski Organizations: OTTAWA, Warehouse Union, British Columbia Maritime Employers Association, Labour, Canadian Manufacturers, Thomson, & ' $ Locations: British, Vancouver, Ottawa, Bengaluru

REUTERS/Chris Helgren/File PhotoVANCOUVER, July 19 (Reuters) - Striking dock workers on Canada's Pacific coast on Wednesday issued a new 72-hour walkout notice just hours after a federal watchdog ruled their current stoppage was illegal. Amid mounting calls for resolute government action to end the strike, Prime Minister Justin Trudeau convened a meeting of the Incident Response Group. Some 7,500 dock workers have been picketing the two ports almost non-stop since July 1. Its leader, Jagmeet Singh, ruled out support for a law to end the strike. That means Trudeau would need the votes of the Conservatives, who have been trying to court workers and unions, or the separatist Bloc Quebecois.

Persons: Chris Helgren, Justin Trudeau, Trudeau, Prince Rupert, Omar Alghabra, David Eby, Pierre Poilievre, Jagmeet Singh, Steve Scherer, Ismail Shakil, David Ljunggren, Nia Williams, Chris Reese, Jonathan Oatis, Daniel Wallis, Leslie Adler Organizations: International, Warehouse Union, REUTERS, VANCOUVER, Minister's, Canada Industrial Relations, Reuters, Canadian Manufacturers, Ministers, Canadian Chamber of Commerce, New Democratic Party, NDP, Conservative Party, Conservatives, Bloc Quebecois, Liberal, Thomson, & ' $ Locations: Vancouver , British Columbia, Canada, Vancouver, Ottawa, Alberta, Saskatchewan, British Columbia

[1/2] A helicopter passes idle shipping cranes towering over stacked containers during a strike by the International Longshore and Warehouse Union Canada (ILWU) at Canada's busiest port of Vancouver, British Columbia, Canada, July 11, 2023. REUTERS/Chris Helgren/File PhotoOTTAWA, July 19 (Reuters) - Canada's Transport Minister Omar Alghabra on Wednesday said he was running out of patience with striking Pacific dock workers when asked if the government would pass back-to-work legislation, a politically tricky move that requires opposition support. The left-leaning New Democrat Party (NDP) has been helping Trudeau's minority government pass legislation in parliament, but on Wednesday NDP leader Jagmeet Singh ruled out support for legislation forcing workers back on the job. "Don't signal in any way that you're going to bring a back-to-work legislation because that's going to undermine the workers," Singh told reporters was his message to the government when asked about back-to-work legislation in Windsor, Ontario. It also means that the Liberal-NDP deal that is keeping the government going could be put under strain if Trudeau chooses to force an end to the strike.

Persons: Chris Helgren, Omar Alghabra, Alghabra, of Prince Rupert, Pierre Poilievre, Justin Trudeau, Jagmeet Singh, Singh, Trudeau, Ismail Shakil, Chizu Nomiyama, Andrea Ricci Organizations: International, Warehouse Union, REUTERS, OTTAWA, Canada's, Canadian Manufacturers, Canada's Conservative Party, Liberal, New Democrat Party, NDP, Conservatives, Bloc Quebecois, Thomson, & ' $ Locations: Vancouver , British Columbia, Canada, Argentia, Newfoundland, Port of Vancouver, of, Windsor , Ontario, Ottawa

☆ Strike at Canada's Pacific ports ends with tentative, 4-year deal
▼ + stars: | 2023-07-13 | by ( Chris Helgren | ) www.reuters.com time to read: +3 min

[1/5] Union members with the International Longshore and Warehouse Union Canada (ILWU) remove strike signs from a picket line outside the despatch hall in Vancouver, British Columbia, Canada July 13, 2023. REUTERS/Chris HelgrenVANCOUVER, British Columbia, July 13 (Reuters) - Dock workers at ports along Canada's Pacific coast and their employers accepted a tentative wage deal on Thursday, ending a 13-day strike that disrupted trade at the country's busiest ports and risked worsening inflation. "The British Columbia Maritime Employers Association (BCMEA) and International Longshore and Warehouse Union (ILWU) Canada are pleased to advise that the parties have reached a tentative agreement on a new 4-year deal," the BCMEA said in a statement. The union had made demands including wage increases and expansion of their jurisdiction to regular maintenance work on terminals. He offered terms drafted by a federal mediator and gave the union and employers 24 hours to decide if they were satisfied.

Persons: Chris Helgren, of Prince Rupert, Seamus O'Regan, Omar Alghabra, O'Regan, Ismail Shakil, Steve Scherer, Deepa Babington, Alexandra Hudson Organizations: Warehouse Union, REUTERS, British Columbia Maritime Employers Association, Bank of Canada, Labour, Port, Canadian Federation of Independent Business, Canadian Manufacturers, Alexandra Hudson Our, Thomson, & ' $ Locations: Vancouver , British Columbia, Canada, Chris Helgren VANCOUVER, British Columbia, British, Port of Vancouver, of, Vancouver, Ottawa

☆ Canadian port strike talks resume, supported by federal mediators
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +1 min

The BCMEA and the International Longshore and Warehouse Union Canada (ILWU Canada) met on Saturday, supported by federal mediators, the statement said. Some 7,500 port workers went on strike on July 1 for higher wages, upending operations at the Port of Vancouver and Port of Prince Rupert - key gateways for exporting the country's natural resources and commodities as well as for bringing in raw materials. ILWU Canada did not immediately reply to a request for comment. The Canadian Manufacturers & Exporters (CM&E) industry body said the strike is disrupting C$500 million ($377 million) in trade every day. ($1 = 1.3271 Canadian dollars)Reporting by Fergal Smith; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

Persons: Port of Prince Rupert, Saturday Alberta Premier Danielle Smith, BCMEA, Fergal Smith, Mark Porter Organizations: TORONTO, British Columbia Maritime Employers Association, Warehouse Union, Port, Saturday Alberta Premier, ILWU Canada, Canadian Manufacturers, Thomson Locations: Pacific Canada, British, Canada, Port of Vancouver, Port of, Vancouver

☆ Canada port strike may add to inflation concerns ahead of rate decision
▼ + stars: | 2023-07-06 | by ( Fergal Smith | ) www.reuters.com time to read: +3 min

[1/3] A view shows placards as longshoremen with the International Longshore and Warehouse Union Canada (ILWU) strike outside the Port of Vancouver's Neptune Bulk Terminals in North Vancouver, British Columbia, Canada July 5, 2023. Some 7,500 dock workers went on strike on Saturday for higher wages, upending operations at two of Canada's three busiest ports, the Port of Vancouver and Port of Prince Rupert. Money markets expect the central bank to tighten further, possibly as soon as at a policy decision next Wednesday. The Canadian Manufacturers & Exporters (CM&E) industry body said the strike is disrupting C$500 million in trade every day. ($1 = 1.3360 Canadian dollars)Reporting by Fergal Smith, editing by Steve Scherer and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Helgren, Port of Prince Rupert, Andrew Grantham, Seamus O'Regan, It's, Robert Kavcic, Fergal Smith, Steve Scherer, Josie Kao Organizations: Warehouse Union, REUTERS, TORONTO, Bank of Canada, BoC, CIBC Capital Markets, Bank of, Reuters, Twitter, Canadian Manufacturers, BMO Capital Markets, Thomson Locations: of, North Vancouver, British Columbia, Canada, Port of Vancouver, Port of, Bank of Canada

☆ Biden plans first Canada visit in March
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +2 min

Jan 10 (Reuters) - U.S. President Joe Biden will be in Canada in March in his first visit to one of the United State's top trading partners since taking office almost two years ago. Biden told Canadian Prime Minister Justin Trudeau about his travel plans in a bilateral meeting at the North American leaders' summit in Mexico City on Tuesday, according to statements from the White House and Trudeau's office. The United States is by far Canada's biggest trade partner, recording over C$1 trillion ($745.1 billion) in bilateral trade in goods and services in 2021. Canada does have some issues with Biden, who canceled a key oil pipeline from Canada to the United States on his first day in office. Washington and Ottawa also have clashed over rules governing lumber, dairy and autos under the United States–Mexico–Canada Agreement trade pact.

In October, the economy added a net 108,300 jobs, and wages growth climbed to 5.5%, even as the economy began to stall. Up until a few months ago, Kriska's 1,200 employees were too few to keep up with demand, Seymour said. Dennis Darby, who heads Canadian Manufacturers and Exporters business lobby, says there are still some 80,000 vacancies in manufacturing. Reuters GraphicsONE MILLION JOBSCanada has nearly a million open jobs and just over a million unemployed people. As global supply chain bottlenecks dissipate, labor demand will rebound in sectors that have a backlog of orders due to forced production cuts.

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