Featured insights

Inflation spiked in April, due mainly to a rebound in oil prices in the past 12 months as well as the surge in new home prices. We expect that inflation will remain hot in May given the plunge in prices that occurred in the early stage of the pandemic last year. A recovery in global demand for resources and strengthening consumer spending at home, will be the main contributors to inflation going forward.

Quick take  | 3-min read
Anna Feng—May 19, 2021
Focus Area—Canadian Economics

April’s Labour Force Survey shows the impact that tightening COVID-19 measures are having on employment in Canada. The third wave of the pandemic dealt a heavy blow to jobs in Ontario, with schools and stores forced to close. However, with the rollout of vaccines underway, we expect employment to bounce back as we have seen in the past once restrictions are eased.

Quick take  | 3-min read
Liam Daly—May 7, 2021
Focus Area—Canadian Economics

As national vaccinations started to pick-up in February, real GDP grew by 0.4 per cent month-over-month. With Statistics Canada’s preliminary estimate for growth in March, first quarter output will likely be higher than expected in our most recent national forecast. Yet recent surges in new cases of COVID-19 reversed the loosening of restrictions in many provinces in April. We therefore expect that growth may have cooled off in recent weeks.

Quick take  |  3-min read
Kiefer Van Mulligen and Liam Daly—April 30, 2021
Focus Areas—Canadian Economics

Inflation surged due to a strong rebound in consumer prices this March compared to extremely low prices in the year earlier period. Rising oil and housing prices were two of the main contributors to the strength in inflation. Given subdued consumer prices last spring, we expect that inflation will continue to trend above 2.0 per cent in the coming months.

Quick take  |  3-min read
Anna Fang—April 21, 2021
Focus Areas—Canadian Economics

Despite a stronger than expected economic performance in the first quarter of 2021, the Bank of Canada held its policy interest rate steady and announced that its weekly net purchases of Government of Canada bonds will be reduced to a target of $3 billion.

Quick take  |  3-min read
Sasan Fouladirad—April 21, 2021
Focus Areas—Canadian Economics

Finance Minister Chrystia Freeland’s inaugural budget is intended to transform the economy by favouring vaccine rollouts and economic recovery in the near term and focusing on the labour force, green technology, and education over the long-term. While good intentioned, the fiscal roadmap outlined by the Liberal government will come at a cost to Canadians.

Op-ed  |  4-min read
Pedro Antunes—April 20, 2021
Focus Areas—Canadian Economics

While some incremental progress has been made, there is no compelling evidence that voluntary “comply or explain” disclosure requirements have accelerated the entry of women into the boardrooms of companies listed on the Toronto Stock Exchange.

Op-ed  |  4-min read
Susan Black and Rob Davis—April 14, 2021
Focus Area—Inclusion

The global pandemic has hit Canada’s employment landscape hard and forced many Canadians to transition to new opportunities in search of stability. Many jobs in industries such as travel, hospitality and retail have temporarily vanished, causing tens of thousands of people to look for new employment opportunities. Helping Canadians adapt to these very real and accelerating changes in their careers is a central challenge in how we envision a future of shared prosperity in Canada.

Op-ed  |  3-min read
Susan Black and Pedro Barata—April 9, 2021
Focus Area—Education & Skills
Partner—Future Skills Centre

The labour force survey brings news of employment growth across Canada, pushing the unemployment rate to a new low since the onset of the pandemic. Notable employment gains in the retail sector and in Ontario fueled the jobs recovery in March.

Quick take  |  4-min read
Liam Daly—April 9, 2021
Focus Area—Canadian Economics

Unpaid, informal caregivers, who are typically family members, friends and neighbours, play a vital role in helping people with dementia reside safely at home and in their communities. During the COVID-19 pandemic, the financial, physical, emotional, and mental health impacts on these unsung heroes are going largely unnoticed with potentially huge consequences for Canada’s healthcare system.

Op-ed  |  4-min read
Monika Slovinec D’Angelo—April 7, 2021
Focus Area—Health

Over half a million Canadians live with dementia. This number is expected to nearly double by 2033. Dementia refers to a group of symptoms associated with a progressive decline in cognitive function characterized by memory loss, difficulties with thinking, behavior, language, and ability to perform everyday activities. Unpaid, informal caregivers, typically family, friends, and neighbours play a vital role in the lives of people with dementia while helping them reside safely at home and in their communities.

Commentary  |  4-min read
Monika Slovinec D’Angelo, Isabella Moroz, & Lyra Halili—March 31, 2021
Focus Area—Health

Amid stricter lockdowns in Ontario and Quebec, Canada’s real GDP managed to post growth in January. With a preliminary estimate of 0.5 per cent growth for February, this suggests that first quarter growth will be stronger than expected in our most recent national forecast.

Quick take  |  4-min read
Kiefer Van Mulligen and Liam Daly—March 31, 2021
Focus Area—Canadian Economics

Today’s Statistics Canada release showed that retail sales fell in January, following a decline in December. This drop was almost entirely due to lower retail activity in Ontario and Quebec. In both provinces, January brought curfews, stay-at-home orders, and other restrictions on economic activity. Though many of these restrictions remained in place into February,

Quick take  |  2-min read
Kiefer Van Mulligen—March 19, 2021
Focus Area—Canadian Economics

Succeeding in the post-pandemic labour market will require Canadian employers and employees to embrace a paradigm shift when it comes to seeking and filling jobs. Labour markets in this country were rocked in 2020 by the COVID-19 pandemic. Employment in Canada fell by more than 15 per cent in just two months. Certain sectors were hit harder than others, and both workers and employers have struggled to find their footing again. In many cases, workers are finding that there is no job to return to.

Op-Ed  |  3-min read
Michael Burt and Bryan Gormley—March 17, 2021
Focus Area—Education & Skills

February’s inflation was up from its year-ago level, thanks to the rapid growth in gasoline and housing prices.As the economy gradually opens and consumer demand rebounds, consumer prices are likely to exceed their year-ago level in the coming months, leading to stronger inflation for the second quarter of 2021.

Quick take  |  2-min read
Anna Feng—March 17, 2021
Focus Area—Canadian Economics

In the short term, spending by immigrants can help fuel economic recovery, while the availability of immigrant labour will be essential in restoring the restaurant and hospitality sectors. The federal government’s latest efforts to make it easier for immigrants with Canadian work experience to become permanent residents is another sign it’s committed to attracting more immigrants.

Op-ed  |  4-min read
Iain Reeves—March 5, 2021
Focus Area—Immigration

Real GDP posted a 2.3 per cent gain in the fourth quarter of last year, leaving overall economic activity down 5.4 per cent in 2020—by far Canada’s steepest recession in modern times. While the economy recovered over the second half of 2020, economic activity has again slowed in recent months.

Op-ed  |  4-min read
Liam Daly—March 3, 2021
Focus Area—Canadian& Economics

Canadians are innovating and adapting as health emergencies, global warming and automation change our way of life. The COVID pandemic, for example, has accelerated technology adoption as people have sought to remain connected.

Op-Ed  |  3-min read
Harry Sharma—February 22, 2021
Focus Area—Innovation & Technology

Today’s Statistics Canada release showed that retail sales fell in December, posting their largest decline since April of last year. With provincial governments implementing more stringent lockdown measures throughout the month, the results are hardly surprising. And given that restrictions have mostly remained in place since December, it is likely that retailers continued to be hit hard by the pandemic during the first two months of 2021.

Quick take  |  2-min read
Richard Forbes—February 19, 2021
Focus Area—Canadian Economics

January’s inflation inched up 1.0 per cent on a year-over-year basis, thanks to rising gasoline prices and surging housing prices. We expect that as restrictions ease and economic activity rebounds, inflation will gradually recover over the coming quarters.

Quick take  |  2-min read
Anna Feng—February 17, 2021
Focus Area—Canadian Economics

Despite significant disruption by the COVID-19 pandemic, strong demand for skilled tradespeople persists across Canada. Ongoing demand means the talent development pipeline is more important than ever and Canada’s apprenticeship systems will need to adapt to labour market changes. The two top priorities are reducing barriers to digital learning for apprentices and integrating a stronger focus on social and emotional skills development throughout the apprenticeship pathway.

Op-ed  |  3-min read
Andrew Bieler—February 5, 2021
Focus Area—Education & Skills
Client—Future Skills Centre

January’s labour force survey is a mixed bag. It contains some sobering numbers but also signs for cautious optimism. The decline in employment was almost entirely due to the closures in Ontario and Quebec, as other provinces labour markets fared well.

Quick take  |  3-min read
Liam Daly—February 5, 2021
Focus Area—Canadian Economics

Output grew in November, the economy’s seventh consecutive month of growth. While industrial production grew, lockdowns led to declines in services such as arts, entertainment and recreation. Overall, November’s modest pick-up is welcome, yet there is still a long way to go as output remained below the level recorded before the onset of the pandemic in February.

Quick take  |  3-min read
Liam Daly and Kiefer Van Mulligen—January 29, 2021
Focus Area—Canadian Economics

Today’s Statistics Canada release showed that retail sales rose in November and are up compared to their pre-pandemic level. Strong gains in household income—due largely to government stimulus throughout much of 2020—encouraged consumers to spend more ahead of the holiday season.

Quick take  |  3-min read
Richard Forbes—January 22, 2021
Focus Area—Canadian Economics

It’s more important than ever that Indigenous children in elementary and secondary schools study science, technology, engineering, and math (STEM). STEM fields are critical to the future of work in Canada. Studies show there’s high demand for jobs requiring expertise in STEM areas. In fact, they’re growing by 4.6 per cent a year in Canada, compared to the 1.8 per cent annual growth of the job market as a whole.

Op-ed  |  3-min read
January 21, 2021
Focus Area—Indigenous & Northern Communities

Inflation decelerated to 0.7 per cent in December. In all, price inflation was only 0.7 per cent in 2020, the smallest increase since 2009. Tightened restrictions across regions in December significantly weighed on consumer demand for transportation, thus pulling down consumer prices.

Quick take  |  2-min read
Anna Feng—January 20, 2021
Focus Area—Canadian Economics

The Bank of Canada held its policy interest rate steady and announced that it will continue with its quantitative easing program. With core inflation well below its target of two per cent, and a slowdown in the economic recovery over the past few months, today’s announcement was expected.

Quick take  |  2-min read
Richard Forbes—January 20, 2021
Focus Area—Canadian Economics

Increasing COVID-19 case counts in the fall have begun to affect the broader economy. Manufacturing sales slowed by 0.6 per cent in November, the second consecutive decline. While only a minor decline, more restrictions through December and January should further restrict economic activity, and thus manufacturing output.

Quick take  |  3-min read
Cory Renner—January 19, 2021
Focus Area—Canadian Economics

COVID-19 continues to challenge Canadians, both personally and professionally. At a personal level, it has disrupted social connections and recreational routines. Those with children are juggling work and parenting. And some are riddled with financial worries. On the professional front, challenges such as working remotely or a fear of catching COVID-19 have amplified worry and distress for many employees.

Commentary  |  3-min read
Dr. Bill Howatt—January 14, 2021
Focus Area—Health

Rising COVID-19 cases through the late fall and into winter led to shutdowns across the country, which weighed on employment growth. In all, employment fell in December, the first decline in employment since April. With restrictions remaining in place or even being tightened into 2021, employment growth is likely to decline further in January and remain weak in the first half of the year.

Quick take  |  3-min read
Liam Daly—January 8, 2021
Focus Area—Canadian Economics

Real GDP growth decelerated to 0.4 per cent in October as the second wave of the pandemic drained energy from the recovery. A notable slowdown in manufacturing contributed to this result, as well as a further decline in the accommodation and food services industry.

Quick take  |  3-min read
Liam Daly—December 23, 2020
Focus Area—Canadian Economics

Today’s Statistics Canada release showed that retail sales rose 0.4 per cent in October and are up 4.5 per cent compared to their pre-pandemic level. Strong gains in household income and rock bottom interest rates have allowed retail sales to post a speedy recovery compared to most other sectors of the Canadian economy.

Quick take  |  3-min read
Richard Forbes—December 18, 2020
Focus Area—Canadian Economics

The Conference Board of Canada is examining colorectal cancer care (CRC) pathways in Ontario and Quebec to understand how to align provincial guidelines, existing pathways for patient care, and a value-based model of healthcare for these patients. Patient care pathways are multidisciplinary stepped-care plans founded on evidence-based clinical guidelines and expert consensus.

Commentary  |  4-min read
Monika Slovinec D’Angelo, Isabella Moroz, & Nicholas Moroz—December 16, 2020
Focus Area—Health

The economic crisis caused by the pandemic will leave long-lasting scars for many Canadian industries and take a heavy toll on the finances of governments at all levels. The COVID-19 pandemic has already taken a massive toll on the Canadian and global economies.

Op-ed  |  4-min read
Pedro Antunes—December 16, 2020
Focus Area—Canadian Economics

Pre-pandemic, the climate crisis was already critical. The Intergovernmental Panel on Climate Change had released its landmark report, the United Nations had declared 2020 a “Nature Super Year,” and a record number of communities across Canada declared climate states of emergencies. COVID-19 may have slowed our pace of life and created a temporary dip in emissions, but our need to address the climate challenge is still very much alive and urgent.

Op-ed  |  4-min read
Roger Francis and Samantha Page—December 10, 2020
Focus Area—Sustainability

COVID-19 has shone a light on mental health in Canada and challenged employers to focus more on supporting employees’ through this challenging time. Organizations large and small often do not fully grasp how to support employees with their mental health needs.

Commentary  |  3-min read
Bill Howatt and Andrew Harkness—December 8, 2020
Focus Area—Health

This month’s labour market data shows that the jobs recovery continues to lose steam. While the overall number of employed Canadians grew in November, growth this month is the weakest since the beginning of the recovery in May.

Quick take  |  3-min read
Liam Daly—December 7, 2020
Focus Area—Canadian Economics

Canada is an energy bank. We need to treat it like one. We require an energy system strategy that would allow Canada to lead (not follow) market opportunities and leverage our capital to transition to a low carbon future. An energy system strategy will allow us to better monitor and achieve our transition.

Op-ed  |  4-min read
Roger Francis—December 7, 2020
Focus Area—Sustainability

The time to support a vision for public transportation is now. The pandemic has highlighted the role of public transit in sustainable urban centres, and two visions of the future are taking shape. In short, a future of automobile-centric sprawl. The second leverages a post-pandemic recovery plan to support our renewed ambitions for low-carbon urban transformation.

Op-ed  |  3-min read
Jesse Steinberg—November 27, 2020
Focus Area—Sustainability

The COVID-19 pandemic has brought about major change for a vast majority of knowledge workers. COVID has accelerated the underlying technological transformations shaping how Canadians work, and emphasized the inequalities across regions in our ability to access digital infrastructure. Increased reliance on digital connections has also increased the risk to cyber attacks.

Op-ed  |  3-min read
Harry Sharma—October 27, 2020
Focus Area—Innovation & Technology

The real GDP grew in September. These modest figures, as well as a preliminary estimate growth for October, show that escalating cases of COVID-19 and stricter public health measures have weighed heavily on Canada’s economic recovery.

Quick take  |  4-min read
Liam Daly and Kiefer Van Mulligen—December 1, 2020
Focus Area—Canadian Economics

Minister Freeland has highlighted the importance of rolling out a vaccine and providing additional support to households and businesses through what will be a tough winter for many Canadians. The additional spending coupled with a lasting negative hit to government revenues will add copiously to the federal debt—boosting the net debt-to-GDP ratio from 35 per cent pre-COVID to around 54 per cent over the medium term.

Quick take  |  3-min read
Pedro Antunes—November 30, 2020
Focus Area—Canadian Economics

Today’s Statistics Canada release showed that retail sales rose in September. Strong gains in household income—due largely to government stimulus during the pandemic—and historically low interest rates have been encouraging sales of big-ticket items.

Quick take  |  2-min read
Richard Forbes—November 20, 2020
Focus Area—Canadian Economics

Housing markets have always mirrored social trends in Canada. The automobile, for example, helped fuel suburban growth in the mid-20th century. A home-ownership tsunami brought on by baby boomers led to a decline in the construction of new rental units in the 1990s. And in the past 20 years, the housing story has been about the growth of our cities, at the cost of small towns and rural communities.

Quick take  |  4-min read
Robin Wiebe—November 19, 2020
Focus Area—Canadian Economics

Inflation inched up in October thanks to increases in food and shelter prices. While the demand for clothing, travel and transportation remained suppressed, consumer prices continued to rise because of a pick-up in housing demand and limited supply of product amid the pandemic.

Quick take  |  2-min read
Anna Feng—November 18, 2020
Focus Area—Canadian Economics

With September numbers in, manufacturing sales rebounded in the third quarter, following the sharp decline in the second quarter of the year. Growth was widespread across industries and regions. Higher prices for lumber, coupled with sharp increases in exports of forestry products and building and packaging materials, supported growth in the wood industry while higher sales of pharmaceuticals and medicine amid the pandemic led to higher sales in chemical manufacturing.

Quick take  |  2-min read
Cory Renner—November 16, 2020
Focus Area—Canadian Economics

In another sign of the resilience of Canada’s recovery, employment rose in October. With shutdowns enacted in some provinces and cases rising in nearly all, this month’s reading should be embraced with some enthusiasm. However, the enthusiasm should be tempered as employment could weaken in November because COVID-19 cases remain high in many provinces.

Quick take  |  2-min read
Cory Renner—November 6, 2020
Focus Area—Canadian Economics

Lung cancer is the most common cancer in Canada and the leading cause of cancer mortality for both sexes. Survival rates are among the lowest for all cancer types. The past decade has seen an evolution of care in oncology treatment, from chemotherapy to targeted therapy and immuno-oncology.

Commentary  |  4-min read
Isabella Moroz and Monika Slovinec D’Angelo—November 5, 2020
Focus Area—Health

The COVID-19 pandemic has disrupted product shipments and forced many Canadian businesses to adjust their supply chains. For some, this has involved sourcing more inputs from local suppliers. The current economic hardship has also caused a surge of solidarity from Canadians who are supporting businesses by buying locally. But a strategy focused on buying local is not the solution Canada’s economy needs.

Op-ed  |  3-min read
Pedro Antunes and Julie Adès—November 4, 2020
Focus Area—Canadian Economics

COVID-19 has had an unprecedented impact on immigration levels in 2020. Today, the federal government reaffirmed their commitment to immigration as essential for Canada’s future prosperity. Reaping the full benefits of immigration depends on effectively integrating immigrants and addressing the challenges they face.

Quick take  |  2-min read
Iain Reeves—October 30, 2020
Focus Area—Immigration

Data has been called the oil of the 21st century. And Artificial Intelligence (AI) platforms and tools are commonly described as the new refineries that will convert the data into value-added products, services and platforms.

Op-ed  |  4-min read
Andréa Nadeau and Ramy Nasser—October 29, 2020
Focus Area—Innovation & Technology

This calculator provides employers of all sizes with a user-friendly way to examine their organization’s estimated chronic disease costs related to mental health and cardiovascular illness. Through early intervention and effective treatment, the negative impact of mental illness and cardiovascular disease can be mitigated.

Commentary  |  4-min read
Dr. Bill Howatt—October 29, 2020
Focus Area—Health

In light of a dim outlook, the Bank of Canada unsurprisingly kept its policy interest rate on hold today, while adjusting its quantitative easing program. The central bank reiterated that the economy is not close to recovering, and that core inflation remains below its 2 per cent target.

Quick take  |  2-min read
Eldar Sehic—October 28, 2020
Focus Area—Canadian Economics

Inflation remained muted in September—prices for gasoline and tourism-related services continue to be the main source of downward pressure. Core inflation held steady, which is below the Bank of Canada’s target.

Quick take  |  2-min read
Anna Feng—October 21, 2020
Focus Area—Canadian Economics

With the onset of COVID-19, the already-struggling Canadian manufacturing sector suffered significant declines in March and April. Since then, manufacturing sales have strived toward recovery. However, the latest August decline signals that recovery will have to wait.

Quick take  |  1-min read
Eldar Sehic—October 16, 2020
Focus Area—Canadian Economics

Canada’s energy transition has material issues. The climate change impact of energy materials is prominent among them. Canada’s mining industry can remedy this challenge with the adoption of low-carbon energy sources to power production.

Commentary  |  4-min read
Babatunde Olateju—October 14, 2020
Focus Area—Sustainability

National employment levels continued their recovery at a stronger pace in September. Employment remained lower than pre-pandemic February in all provinces. Canada has now recovered approximately 2.3 million of the 3.0 million jobs lost during the pandemic.

Quick take  |  2-min read
Kiefer Van Mulligen—October 9, 2020
Focus Area—Canadian Economics

Engineers frequently deal with practical problems. But how well are engineering schools preparing them for situations where cultural differences can make or break a project?

Commentary  |  4-min read
Jane Cooper—October 7, 2020
Focus Area—Indigenous & Northern Communities

Life is wrapped in plastics. Their global production has experienced a ten-fold increase in the last 50 years—unmatched by any industrial material. Since the 1950s, Canada’s linear plastics economy has thrived. Albeit with inefficient resource use and adverse environmental impacts on land, water and air. Our nine per cent plastics recycling rate speaks volumes. Change is due.

Commentary  |  4-min read
Babatunde Olateju—October 7, 2020
Focus Area—Sustainability

Following a 6.5 per cent jump in June, real GDP grew by 3.0 per cent in July. This slower pace of recovery is in line with estimates from The Conference Board of Canada’s latest national forecast. While a continued recovery back to pre-pandemic levels of output is promising, real GDP still lies six per cent below its February level.

Quick take  |  3-min read
Kiefer Van Mulligen—September 30, 2020
Focus Area—Canadian Economics

The political moment unfolding now is an opportunity to take transformative action against systemic racism and discrimination. How do we ensure that this moment becomes more than, well, a moment?

Commentary  |  4-min read
Dr. Susan Black and Maria Giammarco—September 24, 2020
Focus Area—Inclusion

In a sparsely attended ceremony, Governor General Julie Payette delivered a speech detailing the government’s direction over their remaining mandate. The Speech highlighted a number of programs, targets and measures that address many important issues and challenges facing Canada and Canadians.

Quick take  |  5-min read
Pedro Antunes—September 24, 2020
Focus Area—Canadian Economics

With every passing day, it’s becoming clearer that “back to normal” is neither realistic nor a desirable goal when the COVID-19 crisis subsides. So what will the world look like? How will the global pandemic reshape work, society, and life six months and six years from now? What kind of potential futures can we imagine or expect?

Commentary  |  1-min read
Matthew McKean and Neil Wilson—September 24, 2020
Focus Area—Education & Skills

For the last 15 years or so, I’ve made my living on the road, and that just won’t be anymore after this, not in any way that used to feel so familiar. Will writers even sign books and hand them back to their new owner in the after? How can I even wonder these things when people are dying and I am safe at my desk waiting for the UPS guy to deliver the coffee beans we ordered from Toronto?

Commentary  |  3-min read
Ivan Coyote—September 24, 2020

The pandemic was shaking the very foundations of our society, a foundation built on inequality and oppression; a foundation that could very well fall apart before our eyes if not for immediate government support and community resilience.

Commentary  |  5-min read
Amira Elghawaby—September 24, 2020

I think of them a lot lately as I struggle to feel like I’m accomplishing anything. My approach to this time was, at first, anything but gentle. I was determined to come out of lockdown having done something extraordinary: maybe I would not only start a novel, I’d actually finish one and then start writing another. I’d take my morning run routine up a notch, maybe run twice a day. Why not? This was a time to take control and strive toward an unprecedented level of excellence.

Commentary  |  3-min read
Kagiso Lesego Molope—September 24, 2020

Exactly three weeks before the official declaration of the pandemic and all it entailed for social isolation, physical distancing, and the devastating impact of COVID-19 on so many people’s lives, I had the pleasure of being the co-convener of a symposium at Trafalgar School for Girls in Montreal that included the phrase “the future of humanity.”

Commentary  |  4-min read
Claudia Mitchell—September 24, 2020

Today, the Bank of Canada held its policy interest rate steady and announced that it will continue with its quantitative easing program. With core inflation below its target and economic activity still well below pre-pandemic levels, today’s announcement was expected.

Quick take  |  2-min read
Richard Forbes—September 9, 2020
Focus Area—Canadian Economics

Canada’s economic recovery continues, albeit at a slower pace. Employment rose in August, the smallest increase since the recovery began in May. With restrictions largely lifted across the country, slower employment growth will be the norm through the recovery.

Quick take  |  2-min read
Cory Renner—September 4, 2020
Focus Area—Canadian Economics

Economic activity plummeted by a record 11.5 per cent in the second quarter of 2020. Now that we’ve confirmed how deep the recession has been, the big question remaining is how long the recovery will take.

Quick take  |  3-min read
Pedro Antunes—August 28, 2020
Focus Area—Canadian Economics

Year-over-year growth in the Consumer Price Index slowed to 0.1 per cent in July, mainly because of suppressed air transportation and travel accommodation prices as well as weak oil demand..

Quick take  |  2-min read
Anna Feng—August 19, 2020
Focus Area—Canadian Economics

With all the workplace disruptions caused by the COVID-19 pandemic, executives, managers, and human resources professionals will face challenges in determining salary increases and bonuses.

Commentary  |  3-min read
CBoC—August 7, 2020
Focus Area—Human Resources

Hydrogen is the fuel for a zero-emissions world. We’ve heard that before and it hasn’t happened. For a breakthrough, innovative and sustainable forms of hydrogen supply, in targeted end-uses, must lead the way.

Commentary  |  3-min read
Babatunde Olateju—August 6, 2020
Focus Area—Sustainability

Canada’s economy continues to recover, as indicated by the 418,500 jobs created in July. However, the increase is less than June, suggesting the initial bounce-back is now behind us.

Quick take  |  4-min read
Cory Renner—August 7, 2020
Focus Area—Canadian Economics

Historically, the GHG emission impacts of rising internet use have been offset by rising efficiency and use of renewable energy.

Commentary  |  3-min read
Sustainability Knowledge Centre—July 22, 2020
Focus Area—Sustainability

Businesses operating under costly COVID-19 restrictions could push up consumer prices near-term, despite the weak state of the economy.

Quick take  |  2-min read
Anna Feng—July 22, 2020
Focus Area—Canadian Economics

So far, Canada has struck the right balance of private and public investments in digital infrastructure, putting us in an enviable position.

Commentary  |  3-min read
Harry Sharma—July 22, 2020
Focus Area—Innovation & Technology

Quick take  3-min read

While Statistics Canada’s early estimate suggests that retail sales could be fully recovered in June, translating retail sales to the broader economic recovery may be optimistic. Income supplement programs helped maintain spending power over and above what other economic indicators suggest.

Cory Renner—July 21, 2020
Focus Area—Canadian Economics

A mental fitness plan can reduce your risk of experiencing a mental health challenge, developing an addictive disorder, or engaging in at-risk activities to cope with stress.

Commentary  |  3-min read
Bill Howatt—July 17, 2020
Focus Area—Health

Today’s rate announcement suggests a steady-as-she-goes approach by the new Bank of Canada Govenor Tiff Macklem. The Bank left its overnight rate unchanged and wil continue with its quantitative easing programs.

Quick take  |  2-min read
Pedro Antunes—July 15, 2020
Focus Area—Canadian Economics

Employment rose by a record 952,900 in June. The rebound was concentrated in services, part-time and low-wage jobs—a partial recovery in the same segments that were hardest hit by the pandemic.

Quick take  |  4-min read
Cory Renner—July 14, 202
Focus Area—Canadian Economics

The CEWS is key to helping business deal with the high costs of running a business while COVID-19 is still a threat. The program has received little uptake so far because businesses are just starting to reopen and because companies have been struggling to interpret whether they qualify.

Op-ed  |  4-min read
Pedro Antunes—July 10, 2020
Focus Area—Canadian Economics

In a world shaken by the pandemic crisis and social inequality, many voices are now calling for measures to build a more inclusive society and economy. In Canada’s North, Inuit have been developing their own vision of inclusive growth, one where they share the same quality of life as all Canadians.

Op-ed  |  4-min read
Oana Spinu and Adam Fiser—June 25, 2020
Focus Area—Indigenous & Northern Communities

The COVID-19 crisis has drawn attention to the inconsistent regulations, low standards of care, and poor working conditions in Canadian long-term care facilities.

Commentary  |  3-min read
Isabelle Gagnon-Arpin and Monika Slovinec D’Angelo—June 24, 2020
Focus Area—Health

Canada is starting to reopen in anticipation of a post-COVID world. Local media are commenting on increased vehicle traffic. Daily accident reports are almost back to normal, and congestion is growing. Our collective consumer bounce-back has begun.

Commentary  |  3-min read
Roger Francis—June 19, 2020
Focus Area—Sustainability

Clothing stores have been the hardest hit by the pandemic, as sales in the subsector were down an astounding 85 per cent since February.

Quick take  |  3-min read
Richard Forbes—June 19, 2020
Focus Area—Canadian Economics

Consumer prices were off their year ago level (-0.4 per cent) again in May, recording the second month of deflation since 2009.

Quick take  |  3-min read
Pedro Antunes—June 17, 2020
Focus Area—Canadian Economics

Governments can support condence by being transparent with respect to when and how restrictions will be phased out, what health and security requirements specic businesses will need to adhere to, and what they will do in the event of a resurgence of COVID-19 cases.

Op-ed  |  4-min read
Pedro Antunes—June 16, 2020
Focus Area—Canadian Economics

Pandemics and diseases loom large in the history of Indigenous groups in Canada. Past outbreaks have had devastating outcomes, fueled by colonial policies and persistent inequalities.

Commentary  |  3-min read
Pedro Antunes—June 16, 2020
Focus Area—Indigenous & Northern Communities

Canada’s continued prosperity in a globalized, knowledge-based economy will be driven, in part, by our transition to a set of next-generation technologies, popularly known as “industry 4.0” technologies.

Commentary  |  4-min read
Harry Sharma—June 11, 2020
Focus Area—Innovation and Technology

Post-secondary education is built largely on a model of bringing people together—in classrooms and common spaces, libraries and labs—to socialize, share knowledge, and develop new skills.

Commentary  |  3-min read
Maria Giammarco, Stephen Higham, and Matthew McKean—June 11, 2020
Focus Area—Education Skills

COVID-19 is impacting nearly every part of our lives, including the resilience of our food supply chain.

Commentary  |  3-min read
Michael Burt and Mary Robinson—June 8, 2020
Focus Area—Canadian Economics

In another sign that the worst of the economic decline from COVID-19 is behind us, employment rose by 289,600 in May.

Quick take  |  3-min read
Cory Renner—June 5, 2020
Focus Area—Canadian Economics

Data released by Statistics Canada’s today unearthed an unsettling picture for Canada’s trade sector as both exports and imports registered steep double-digit declines in April—in which monthly declines of this magnitude have never been observed before.

Quick take  |  2-min read
Doris Chu—June 4, 2020
Focus Area—Canadian Economics

Today the Bank of Canada unsurprisingly held the interest rate steady at its lower bound. The health of the financial system allowed it to begin rolling back some of its extraordinary market operations aimed at financial institutions.

Quick take  |  2-min read
Robyn Gibbard—June 3, 2020
Focus Area—Canadian Economics

As expected, real GDP plunged in the first quarter as measures to contain the spread of COVID-19 were implemented. Growth is projected to have continued its decline in April, with much of the country in lockdown.

Quick take  |  2-min read
Alicia Macdonald—May 29, 2020
Focus Area—Canadian Economics

Many changes and challenges have come about because of COVID-19. And while we are still discovering the considerable impact this virus can have on physical health, there is as much to learn about its impact on mental health—both in the short term as well as in the months and years to come.

Commentary  |  3-min read
Dr. Bill Howatt, Stéphane Grenier, Glenn Cullen—May 26, 2020
Focus Area—Health

Today’s Statistics Canada release showed that retail sales fell 10.0 per cent in March, marking their largest monthly decline on record. Clothing stores were the hardest hit.

Quick take  |  4-min read
Richard Forbes—May 22, 2020
Focus Area—Canadian Economics

New data released today by Statistics Canada confirms the drastic impact that the COVID-19 pandemic is having on the Canadian economy. After posting a gain of just 0.9 per cent year-over-year in March, consumer prices fell by 0.2 per cent in April.

Quick take  |  1-min read
Todd Crawford—May 20, 2020
Focus Area—Canadian Economics

Consumer confidence edged higher in May on the heels of two months of record-breaking declines that had brought our Index of Consumer Confidence to a historical low. While the increase is certainly good news, the tepid gain shows the households across the country remain cautious about the economy and this will weigh on purchasing decisions over the coming months.

Quick take | 2-min read
Anna Feng—May 20, 2020
Focus Area—Canadian Economics

Manufacturing sales declined 9.2 per cent in March, marking their largest monthly decline in over a decade. The results indicate that the pandemic has weighed heavily on manufacturers, as 17 of 21 industries reported reductions in manufacturing sales.

Op-ed | 1-min read
Richard Forbes—May 14, 2020
Focus Area—Canadian Economics

Of all the phrases and words competing to become the top term of 2020, ‘pivot’ is a strong contender. Organizations in every sector are changing rapidly, being more nimble, and evaluating innovations—all of it important in the midst of a global crisis.

Commentary  |  Lianne Picot—May 11, 2020
Focus Area—Leadership

Digitization has become a reality for Canadians a lot quicker than the experts would have predicted only a few weeks ago. Digital cafés, Google meet-ups, and other virtual remote work arrangements have enabled us to continue to be productive and social.

Op-ed | 3-min read
Harry Sharma—May 11, 2020
Focus Area—Innovation & Technology

Canada lost nearly 2 million jobs in April during the peak of the COVID-19 economic impact. This brings total job losses since February to 3 million, close to our late March forecast of 2.8 million.

Quick take | 2-min read
Cory Renner—May 8, 2020
Focus Area—Provincial Forecast

In an ideal world, everyone would have the opportunity to practice physical distancing as prescribed by public health officials. Unfortunately, for many people, doing so can be challenging, due to their type of employment, social requirements, or awareness levels.

Commentary  |  Harry Sharma—May 6, 2020
Focus Area—Innovation & Technology

There is a lot of advice right now about how to be an effective leader during the COVID-19 crisis. You are being encouraged, and you are trying, to be empathetic and supportive of your people, all while adjusting to new ways of working.

Commentary  |  Lianne Picot—May 5, 2020
Focus Area—Leadership

When Canada’s rural and remote Indigenous communities face emergencies, they often lack the resources and supports common to most Canadian towns and cities. But despite being at a comparative disadvantage, these communities generally manage to respond.

Commentary | 3-min read
Stefan Fournier —May 1, 2020
Focus Area—Indigenous & Northern Communities

March was the first month that provided a snapshot of the devasting impact of COVID-19 on Canada’s trade flows and the picture was not pretty.

Quick take | 3-min read
Doris Chu —May 5, 2020
Focus Area—Canadian Economics

Retail sales have been particularly affected by shutdowns, travel restrictions, and physical distancing requirements. Unlike other parts of the economy, retail workers have limited opportunities to work from home.

Commentary | 2-min read
Zafer Sonmez, Lauren E. Nolan —April 30, 2020
Focus Area—Canadian Economics

Few Canadians are unaffected by the COVID-19 pandemic. These are tough times, and we’re drawing on everything from critical thinking, problem-solving, and communication to empathy, collaboration, and leadership. These represent several key “social and emotional skills”—or human skills.

Commentary  |  Matthew McKean, Maria Giammarco, Stephen Higham —April 28, 2020
Focus Area—Education & Skills

Inflation slowed to 0.9 per cent in March, its largest deceleration since September 2006. The oil price crash, coupled with reduced demand for tourism-related services, were the main contributors of weak inflation numbers last month.

Commentary | 3-min read
Thomas Hindle —April 27, 2020
Focus Area—Canadian Economics

Inflation slowed to 0.9 per cent in March, its largest deceleration since September 2006. The oil price crash, coupled with reduced demand for tourism-related services, were the main contributors of weak inflation numbers last month.

Quick take | 1-min read
Anna Feng —April 22, 2020
Focus Area—Canadian Economics

This pandemic will challenge leaders’ innovation, resolve, and resources. More than ever, organizations will need to support their human capital.

Commentary  |  Dr. Bill Howatt and Glenn Cullen —April 22, 2020
Focus Area—Leadership

While being innovative does mean doing something new and different, it’s important to remember that innovation itself is not the goal. Innovation is meant to help us do things better

Commentary  |  Lianne Picot —April 21, 2020
Focus Area—Leadership

Oil prices seeing record-setting lows, and are expected to stay low as demands amp up. Read our latest Economic Quick Take from Senior Economist, Sam Goucher.

Quick take  |  Sam Goucher —April 21, 2020
Focus Area—Canadian Economics

With its overnight rate already at its lower bound, the biggest policy action today was the Bank of Canada’s decision to purchase large quantities of provincial and corporate bonds. In a sign of the unprecedented times we are living in, the Bank declined to publish a standard economic forecast, saying that uncertainty was too high to offer precise projections.

Quick take | 4-min read
Robyn Gibbard —April 15, 2020
Focus Area—Canadian Economics

Today’s release of travel volumes data provides an early look at one of the sectors that has been hardest-hit by COVID shutdowns. Canada closed the border in mid-March, so we only have half a month of data reflecting the new reality. But even that small period confirms that international travel has, for the moment, almost completely ceased.

Quick take | 2-min read
Robyn Gibbard —April 14, 2020
Focus Area—Canadian Economics

In the first wave of COVID-19 related job losses, Canada lost over one million jobs in March. This was the largest monthly employment decline ever and we expect even more job losses in April as the full impact of mandatory closures and physical distancing measures are reflected in the data. The initial job losses were concentrated in accommodations, food service, retail trade and cultural industries. April is likely to show a broader decline as more businesses scale back due to mandatory closures and reduced demand.

Quick take | 2-min read
Cory Renner —April 9, 2020
Focus Area—Canadian Economics

As people cope with public health measures such as social distancing and 14-day self-isolation periods, provinces and territories across Canada are working hard to anticipate how many people might require hospitalization from COVID-19. As projections in Ontario and other provinces are being released, health care systems need to determine if they have the capacity to treat a potentially large influx of patients over the coming weeks.

Commentary |  3-minute read
Isabelle Gagnon-Arpin —April 8, 2020
Focus Area—Health

‘Nimble’ is a buzzword that is often used as a point of pride by start-ups and as an aspiration by larger organizations. The ability to ‘move fast and be agile’ is an increasingly crucial organizational trait, particularly since the rise of tech and its rapid-speed shifts in products and capabilities. And right now, many organizations are finding out just how nimble they are as they pivot operations during COVID-19.

Commentary | 4-minute read
Lianne Picot —April 15, 2020
Focus Area—Leadership

Even before COVID-19, there was a clear divide in performance between physical retailers and e-commerce. Online sales were experiencing double-digit growth while sales at bricks and mortar stores were at a standstill. In the current environment, developing an online presence for physical retailers has moved from a need-to-do to a matter of survival.

Commentary |  2-minute read
Mike Burt —April 14, 2020
Focus Area—Canadian Economics
Related Research: Insights— Global Trade

The coronavirus crisis of 2020 has exposed the strengths and weaknesses of the Canadian health care system. This is particularly true in Canada’s North, where isolated Indigenous communities face the prospects of widespread infection with great anxiety. The remoteness of Northern settlements—coupled with serious housing shortages, overcrowded homes, and limited health care services—heighten the dangers of the pandemic.

Commentary | 3- minute read
Ken Coates, Carin Holroyd, and Joelena Leader —April 6, 2020
Focus Area—Indigenous & Northern Communities
Related Research: Insights— Indigenous, Health

Consumer confidence fell to a record low and saw its steepest monthly decline in April. The drop comes on the heels March’s record decline and shows that COVID-19 is making Canadians across the country anxious. The speed of the decline is unprecedented, and a sign of how quickly Canada’s economy is deteriorating.

Quick take | 2-min read
Cory Renner —April 7, 2020
Focus Area—Canadian Economics
Related Research: Insights— Provincial Forecast

Canada will suffer record job losses in March and April—with lower-wage workers taking the brunt of the hit. The situation is causing us to reassess the economic impact of COVID-19 on the national and regional economies.

Quick take | 1-min read
Pedro Antunes —April 6, 2020
Focus Area—Canadian Economics
Related Research: Insights—Global Trade

In the midst of a crisis, particularly one the scale of the current pandemic, it is understandable to be reactive. As leaders, however, it is imperative we pay attention to how we are showing up and operating. This includes determining if we are reacting or responding to the crisis and the changes it is imposing on our decision-making.

Commentary | 4-min read
Lianne Picot —April 3, 2020
Focus Area—Leadership

Our lives have been altered in more ways than we can describe. Thankfully, one aspect that hasn’t changed is our ability to access necessities. Even as self-isolation and physical distancing become part of our everyday vocabulary and behaviour, Canadians are still able to buy groceries, fill prescriptions, and use technologies to connect and stay productive.

Commentary | 3-min read
Harry Sharma and Andréa Nadeau —April 3, 2020
Focus Area—Innovation and Technology
Related Research: Insights—Future of Work

In the midst of the one of the most rapid and severe economic contractions that the Canadian economy has ever weathered, information on federal government programs to help stem the fallout is becoming available. These are designed to provide liquidity to firms during this time of profound uncertainty, protect against future losses, and ensure individuals can make ends meet in the event of disruption to their employment or income.

Commentary | 1-min read
Todd Crawford—April 1, 2020
Focus Area—Canadian Economics
Related Research: Insights—Provincial Forecasts

In the coming months, more than 1.3 million jobs in the accommodation and food services sector will be affected by the COVID-19 outbreak in Canada. This represents approximately 7 per cent of all Canadian jobs. However, the economic impact on the sector will be felt unevenly across the country because economic regions are specialized in different industries.

Commentary | 2-min read
Zafer Sonmez—March 31, 2020
Focus Area—Innovation and Technology
Related Research: Insights—Future of Work

To limit the spread of COVID-19, Prime minister Justin Trudeau has told Canadian citizens to stay home, if possible, while numerous businesses and organizations have closed their offices, instituting remote work arrangements. As employers and employees navigate these extraordinary circumstances, it’s an opportune time to assess our capabilities for remote work and what it means for different people.

Commentary | 3-min read
Beth Robertson and Michael Burt—March 30, 2020
Focus Area—Education & Skills
Related Research: Insights—Future of Work

Although merchandise exports increased in February, the outlook for Canada’s trade sector over the near term is far from positive. The combination of depressed global economic activity led by the U.S., and severe disruptions to global supply chains impacted by the intensification of the COVID-19 pandemic, leaves Canada in a very vulnerable position.

Quick take | 3-min read
Doris Chu —April 02, 2020
Focus Area—Canadian Economics
Related Research: Insights—Global Trade

In the midst of a global collapse in demand for oil, Saudi Arabia and Russia have embarked on a price war that has brought oil prices down to rock bottom levels—putting at risk many companies in Canada’s energy sector.

Quick take | 2-min read
Pedro Antunes—March 31, 2020
Focus Area—Canadian Economics
Related Research: Insights—Global Trade

The Bank of Canada this morning cut interest rates. It also announced new programs to purchase debt from municipal governments, provincial agencies, and corporations, and to make large buy-backs of Government of Canada debt. The buy-back program in particular is an important step and indicates that the Bank is moving beyond traditional monetary policy to more extraordinary measures.

Quick take | 3-min read
Robyn Gibbard—March 27, 2020
Focus Area—Canadian Economics

If you are a leader, you now also have to take on the role of “chief morale officer.” With your people working remotely and the current climate of fear around health and finances, a top priority for you as a leader is to keep your people motivated and feeling as good as they can about the work they do for you.

Commentary | 5-min read
Lianne Picot—March 26, 2020
Focus Area—Leadership Development
Related Research: Insights—Leadership, Future of Work

The current social-distancing paradigm, necessitated by the need to flatten the COVID-19 curve, has disproportionally impacted the Accommodation and Food Services (AFS) sector. The Conference Board of Canada’s Chief Economist, Pedro Antunes, has called this an “unprecedented demand shock.” Many restaurants have witnessed a dramatic slowdown in customers and had to close suddenly due to the ongoing public health emergency.

Op-ed | 3-min read
Darren Gresch and Harry Sharma—March 27, 2020
Focus Area—Innovation and Technology

Many have rightfully called for decisive government action to ensure that Indigenous communities have essential resources to respond to COVID-19. In response to the immediate needs of First Nations, Inuit, and Métis communities, the federal government announced $305 million for a distinctions-based Indigenous Communities Support Fund. Only time will tell how effective the fund will be in empowering communities to deal with the crisis.

Commentary | 4-min read
Oana Spinu and Jordan Wapass—March 26, 2020
Focus Area—Indigenous & Northern Communities
Related Research: Insights—Indigenous, Health

“What is my leader doing?” is a question you may find yourself asking right now, whatever level you are at in your organization. However, in times like these, it is helpful to re-frame this question and consider asking yourself, “What can I do to help lead?”

Commentary | 2-min read
Lianne Picot—March 20, 2020
Focus Area—Leadership Development, Leadership

Today’s Statistics Canada release showed that retail sales rose in January. After increasing last year, retail sales in Canada are off to a sluggish start in 2020. However, the release precedes the COVID-19 outbreak in Canada, and the results from January will not be enough to offset the declines in retail trade we expect over the next few months.

Quick take | 2-min read
Richard Forbes—March 20, 2020
Focus Area—Canadian Economics

It comes as no surprise that women, racialized peoples, and other equity groups are underrepresented in leadership positions in Canada—including corporate board seats. These are some of the most powerful positions in the world, yet they’re predominantly held by white men.

Op-ed | 5-min read
Dr. Susan Black and Maria Giammarco —March 12, 2020
Focus Area—Inclusion
Related Research: Insights—Employee Wellness, Future of Work

After ending 2019 on a positive note, exports plunged in January. Looking ahead, hopes of a better trade performance in 2020 were quickly dashed given the recent turn of events. On top of slower U.S GDP growth, the impact of coronavirus (COVID-19) on the world economy and global supply chains will certainly have a hand in dampening trade flows further in the coming months. Consequently, growth prospects in Canada’s trade sector will be limited over the near term.

Quick take | 3-min read
Doris Chu —March 6, 2020
Focus Area—Canadian Economics