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Treating Depression Is Good for the Economy

Being absent from work or performing with reduced functionality due to depression can affect an individual’s health, well-being, and productivity. Early diagnosis and treatment can reduce functional impairment and lower costs for the health care system and the economy. In fact, if the number of Canadians receiving sufficient treatment for depression was to rise from the current 53 per cent to 75 per cent, Canada’s economy would rise by approximately $2.6 billion per year and health care costs would drop by about $5.7 million annually.


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Employee Training on the Rise

Canadian organizations appear to be making learning and development a key strategic priority once again. Spending on employee learning and development has been steadily increasing since the end of 2010. In 2016–17, Canadian employers spent, on average, $889 per employee on learning and development, an increase of $89 per employee since 2014–15. The average number of hours of learning per employee per year has also increased, from 25 hours in 2010 to 32 hours in 2016–17.

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The Canadian Beer Economy

Consuming a Canadian-brewed beer supports many jobs and businesses beyond the local brewery. No matter where Canadians buy beer, they support jobs across the country in a wide range of industries, including accommodation and food services, wholesale and retail trade, transportation, and agriculture. Overall, beer consumption in Canada and foreign demand for Canadian-brewed beer accounted for $13.6 billion of economic activity in 2016.

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Challenging Labour Relations Expected in 2018

Despite stellar economic growth and record-breaking employment numbers in 2017, a slower Canadian economy and lingering uncertainties in the global economic climate will create a challenging bargaining environment for unions and employers this year. Legislative changes surrounding employment and labour standards, minimum wage increases, and the legalization of recreational cannabis bring a number of additional complexities to the bargaining table. In all, unionized employees can expect average wage increases of 1.4 per cent in 2018, slightly lower than the 1.7 per cent increase for contracts negotiated last year.

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Canadian Auto Industry to Gear Down in 2018

Canada’s auto industry remains stable, but declining demand from U.S. consumers and uncertainty surrounding trade relations are raising questions about the industry’s prospects. Lower-than-average vehicle consumption rates among millennials and seniors will ease U.S. vehicle sales, softening demand for Canadian-made vehicles. Meanwhile, the industry will have to contend with potential changes to rules of origin in NAFTA, which could take a sizable bite out of Canadian auto exports and investment in manufacturing.

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Canada’s Shipbuilding Strategy

As part of the National Shipbuilding Strategy to replace the fleets of the Royal Canadian Navy and the Canadian Coast Guard, the federal government contracted Nova Scotia’s Halifax Shipyard to build six Arctic and Offshore Patrol Ships. The shipbuilding activity and the modernization of the Halifax Shipyard Facility are expected to boost economic activity in Canada by $3.42 billion between 2013 and 2022. Additionally, an average of 4,230 jobs per year will be supported by the shipbuilding activity during the core build phase of 2016–20.

Burning joint held by fingers in front of maple leaf  

Coaching for Everyday Impact

On-the-spot, informal, and observational coaching helps to promote a culture of feedback and produces positive changes in workplace culture. The Niagara Institute’s new Coaching for Everyday Impact program is highly collaborative and interactive. It focuses on opportunities to incorporate more impactful coaching moments into your everyday work and interactions, while enhancing your feedback and coaching skills.

Burning joint held by fingers in front of maple leaf  

Enabling Digital Government With Blockchain

Blockchain technology has the potential to transform industries and reimagine the relationships between organizations and consumers, and governments and citizens. On behalf of Innovation, Science and Economic Development Canada, The Conference Board of Canada will host a live webcast called “Enabling Digital Government With Blockchain” on February 28, 2018. During this one-hour interactive webcast, we will discuss current blockchain initiatives, as well as the opportunities, challenges, and risks for utilizing blockchain as an enabler of digital government.

CBoC Highlights

Two people speaking
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As the sixth round of NAFTA renegotiations began in Montréal, Kristelle Audet joined CBC’s “On the Money” to discuss what it will take to bring the trade deal into the 21st century. This infographic details some of the ways Canada’s beer industry is brewing up benefits for the Canadian economy.
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This video discusses upcoming research from our Corporate Responsibility & Sustainability Institute. Pedro Antunes weighs in on the Bank of Canada’s decision to hike the key interest rate and what it means for Canadians in this interview on CTV News.

In This Issue

  • Treating Depression Is Good for the Economy
  • Employee Training on the Rise
  • The Canadian Beer Economy
  • Challenging Labour Relations Expected in 2018
  • Canadian Auto Industry to Gear Down in 2018
  • Canada’s Shipbuilding Strategy
  • Coaching for Everyday Impact
  • Enabling Digital Government With Blockchain

Previous Issues

Recent Op-Eds

How We Can Better Mitigate Flood Risk in Canada, The Globe and Mail, Jan 15, 2018

2018 Will Be a Year of Difficult Economic Policy Decisions, The Globe and Mail, Jan 9, 2018

Time to Hit Reset on Canadian Trade Negotiations With Asia, The Globe and Mail, Dec 29, 2017

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