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☆ 55,000 Postal Workers in Canada Strike Over Pay
▼ + stars: | 2024-11-15 | by ( Isabella Kwai | More About Isabella Kwai | ) www.nytimes.com time to read: +1 min

Postal workers across Canada went on strike starting on Friday over pay and working conditions, a work stoppage that is expected to severely disrupt deliveries ahead of the busy holiday period. The Canadian Union of Postal Workers, which represents about 55,000 people, said in a statement that it had begun the nationwide strike, which started at midnight, after a year of failed negotiations with Canada Post, the country’s main postal operator. The strike will shut down Canada Post’s operations, and no mail or parcels will be processed or delivered through the system, the company said in a statement. “A national strike of any length will impact service to Canadians well after the strike activity ends,” said Canada Post, which is owned by the Canadian government. Other courier services, which have been muscling in on Canada Post’s business in recent years, will continue running.

Persons: ” Organizations: Canadian Union of Postal Workers, Canada Post Locations: Canada, “

☆ India-Canada ties fray in dispute over Sikh separatist killing
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +3 min

Hardeep Singh Nijjar was shot dead by unidentified gunmen outside a Sikh temple on June 18 in a Vancouver suburb. * Indian Prime Minister Narendra Modi conveyed strong concerns about Sikh separatist protests in Canada to Prime Minister Justin Trudeau on the sidelines of a G20 summit in New Delhi on Sept. 10. * Canada postponed a trade mission to India planned for October led by Trade Minister Mary Ng, a spokesperson for the minister said on Sept. 15. * India suspended issuing new visas for Canadians on Sept. 22 and asked Ottawa to reduce its diplomatic presence in India. * India's steel secretary told reporters on Sept. 28 that Indian exports to Canada were marginal and have not been affected by the diplomatic row.

Persons: Nanak, Hardeep Singh Nijjar, Chris Helgren, Justin Trudeau, Narendra Modi, Mary Ng, Trudeau, Nijjar, Shivam Patel, YP Rajesh, Simon Cameron, Moore Organizations: REUTERS, Financial Times, Canadian, Trade, Reuters, JSW Steel, Teck Resources, YP, Thomson Locations: Surrey, British Columbia, Canada, DELHI, India, Vancouver suburb, New Delhi, Canadian, U.S, Australia, Britain, Teck, Ottawa

"It's probably going to be a rough July and a rough summer," she said in a phone interview. Canada's trade deficit with countries other than the United States, its biggest trading partner, widened to an all-time high as month-over-month exports declined 5.5%, while imports were down marginally. The overall trade deficit matched the C$3.73 billion shortfall in October 2020. The Canadian dollar traded slightly higher at C$1.3477 to the U.S. dollar, or 74.20 U.S. cents, up from C$1.3498 to the U.S. dollar, or 74.09 U.S. cents. By volume, imports were up 0.9%.

Persons: Chris Helgren, Statscan, Meena Aier, It's, Olivia Cross, Cross, Ismail Shakil, David Ljunggren, Bernadette Baum, Jonathan Oatis Organizations: Port, REUTERS, OTTAWA, Statistics, Export Development, Capital Economics, Canadian, U.S ., Thomson Locations: Port of Vancouver , British Columbia, Canada, Statistics Canada, United States, of Nova Scotia, Ottawa

OTTAWA, July 7 (Reuters) - Canada's economy added far more jobs than expected in June, data showed on Friday, a result analysts said probably seals the deal for another Bank of Canada (BoC) interest rate hike next week. The unemployment rate in June increased for the second consecutive month and is now at its highest level since February 2022, though still below a pre-pandemic 12-month average, Statscan said. The June jobs report is the last major economic figure to be released before the BoC's rate announcement on Wednesday. Growth has remained resilient despite nine rate increases totaling 450 basis points since March of last year. The net jobs addition in June, the largest since January, were driven by full-time work.

Persons: Jobs, Statscan, Derek Holt, Royce Mendes, Ismail Shakil, Steve Scherer, Dale Smith, Emelia Sithole, Mark Porter Organizations: OTTAWA, Bank of Canada, BoC, Statistics, Scotiabank, Desjardins Group, Reuters, Canadian, Employment, Thomson Locations: Statistics Canada, Ottawa

☆ Canada posts surprise January trade surplus of C$1.9 billion on export gains
▼ + stars: | 2023-03-08 | by ( Ismail Shakil | ) www.reuters.com time to read: +2 min

OTTAWA, March 8 (Reuters) - Canada recorded an unexpected trade surplus of C$1.9 billion ($1.38 billion) in January, driven by broad-based gains in exports, while imports posted a smaller increase led by motor vehicles and parts, Statistics Canada data showed on Wednesday. Statscan also revised December's trade figures to a surplus of C$1.2 billion from an initial C$160 million deficit. read moreTotal exports rose 4.2% in January on the back of gains in all product categories that more than offset a fall in energy products exports. By volume, total exports were up 5.3% in January. Imports increased 3.1% after two consecutive monthly declines, largely driven by motor vehicles and parts as well as industrial machinery, equipment and parts.

☆ Canada records C$3.55 bln budget deficit over first eight months of 2022/23
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

OTTAWA, Jan 27 (Reuters) - Canada recorded a C$3.55 billion ($2.67 billion) budget deficit for the first eight months of the 2022/23 fiscal year, partly due to higher debt charges, the finance ministry said on Friday. By comparison, Canada posted a C$73.70 billion deficit in the period from April to November 2021. Program expenses were down 13.9%, largely reflecting lower transfers to individuals and businesses as COVID-19 support wound down, the finance ministry said in a statement. On a monthly basis, Canada posted a deficit of C$3.38 billion in November, compared to the C$1.44 billion deficit recorded a year ago. ($1 = 1.3310 Canadian dollars)(Reporting by Ismail Shakil, editing by Steve Scherer)((ismail.shakil@tr.com))Keywords: CANADA ECONOMY/BUDGETOur Standards: The Thomson Reuters Trust Principles.

☆ Canada posts hefty job gains, raising chances of another rate hike
▼ + stars: | 2023-01-06 | by ( Ismail Shakil | ) www.reuters.com time to read: +2 min

The economy gained a net 104,000 jobs in December, far exceeding analysts' forecasts, while the jobless rate decreased to 5% from 5.1% in November, Statistics Canada data showed. Analysts surveyed by Reuters had forecast a net gain of 8,000 jobs and for the unemployment rate to edge up to 5.2%. Money markets now see a 75% chance of a 25-bp rate increase in January, up from roughly 60% before the data. Employment in the goods-producing sector rose by a net 22,200, mainly in construction. Employees in the private sector rose by 112,000 in December, the largest increase since February, while public sector and self-employed workers were both little changed, Statscan said.

☆ Canada posts C$174 mln deficit over first seven months of 2022/23
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +1 min

OTTAWA, Dec 23 (Reuters) - Canada recorded a C$174 million ($127.91 million) budget deficit for the first seven months of the 2022/23 fiscal year, partly due to higher debt charges, the finance ministry said on Friday. By comparison, Canada posted a C$72.25 billion deficit in the period from April to October 2021. Program expenses were down 15.6%, largely reflecting lower transfers to individuals and businesses as COVID-19 support wound down, the finance ministry said. On a monthly basis, Canada posted a deficit of C$1.90 billion in October, compared to the C$3.68 billion deficit recorded a year ago. ($1 = 1.3603 Canadian dollars)(Reporting by Ismail Shakil, editing by Steve Scherer)((ismail.shakil@tr.com))Our Standards: The Thomson Reuters Trust Principles.

☆ Canada posts C$1.72 bln surplus over first six months of 2022/23
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +1 min

OTTAWA, NOV 25 (Reuters) - Canada recorded a C$1.72 billion ($1.29 billion) budget surplus for the first six months of the 2022/23 fiscal year, helped by higher tax revenues, the finance ministry said on Friday. By comparison, Canada posted a C$68.57 billion deficit in the period from April to September 2021. Program expenses were down 17.9%, largely reflecting lower transfers to individuals and businesses as COVID-19 support wound down, the finance ministry said. On a monthly basis, Canada posted a deficit of C$2.16 billion in September, compared to the C$11.41 billion deficit recorded a year ago. ($1 = 1.3382 Canadian dollars)(Reporting by Ismail Shakil, editing by Fergal Smith)((ismail.shakil@tr.com))Our Standards: The Thomson Reuters Trust Principles.

☆ Canada posts blowout job gain in October, unemployment rate unchanged
▼ + stars: | 2022-11-04 | by ( Julie Gordon | ) www.reuters.com time to read: +2 min

[1/2] A help wanted sign at a store along Queen Street West in Toronto Ontario, Canada June 10, 2022. The economy added a net 108,300 jobs last month, easily beating forecasts for 10,000 new jobs, while the jobless rate was unchanged at 5.2%. The blowout gain was entirely in full-time work, spread across both the goods and services sectors. The Bank of Canada raised its policy rate by 50 basis points to 3.75% last week and said while more increases would still be needed, it was nearing the end of its tightening campaign. The core-age unemployment rate stands at 4.2%, slightly above July's record low, but in a historically tight range last seen in the 1970s.

☆ Canada records C$6.33 billion budget surplus over first four months of 2022-2023
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe Canadian flag flies in front of the Peace Tower on Parliament Hill in Ottawa, Ontario, Canada, March 22, 2017. REUTERS/Chris WattieOTTAWA, Sept 23 (Reuters) - Canada recorded a C$6.33 billion ($4.67 billion) budget surplus for the first four months of the 2022/23 fiscal year, helped by higher tax revenues and the ending of coronavirus support measures, the finance ministry said on Friday. By comparison, Canada posted a C$47.33 billion deficit in the period from April to July 2021. On a monthly basis, Canada posted a deficit of C$3.87 billion in July, compared to the C$10.86 billion deficit recorded a year ago. ($1 = 1.3558 Canadian dollars)(Reporting by Ismail Shakil, editing by Steve Scherer)((ismail.shakil@tr.com)Register now for FREE unlimited access to Reuters.com RegisterOur Standards: The Thomson Reuters Trust Principles.

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