Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– Statistics Canada reported on Friday that the country’s unemployment rate made a slight decline to 5.7 per cent in January, compared to 5.8 per cent in December. There were 37,000 jobs added last month and it marked the first time since December 2022 that the unemployment rate had dropped. Wholesale and retail trade, as well as finance, insurance, real estate, and leasing had the highest job gains. In addition, workers’ wages increased 5.3 per cent compared to a year earlier.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
– The federal New Democratic Party (NDP) is quietly preparing for the sudden termination of its supply-and-confidence deal with the Liberals, a source told CBC News. The agreement saw the NDP support the government in key votes in order to prevent an early election. While the Liberals signed an agreement with the NDP to finalize a national pharmacare program by March 1, the Liberals haven’t yet made a concrete proposal. NDP leader Jagmeet Singh said on Monday there would be “repercussions” if the Liberals missed the deadline.
– Energy company Enbridge Inc. reported a C$1.73 billion profit in the fourth quarter of 2023. Last month, Enbridge announced it was cutting 650 positions due to “increasingly challenging business conditions”. In the fourth quarter of 2022, the company lost C$1.07 billion after the company took a goodwill impairment charge of C$2.5 billion related to its gas transmission business.
