The Bank of Canada released it’s quarterly Monetary Report today, and held rates firm at 3/4 per cent. The Bank cut growth expectations for 2015, but expects Canada’s GDP to rebound in 2016. Much of this rebound will depend on a growing U.S. and global economy, and on the ability of Canadian exporters to capture a bigger share because of our lower dollar. […]
Read moreHere is the link to a short study I have done for the Broadbent Institute on the Harper Record on Jobs from 2006 to 2014 based on annual averages from the Labour Force Survey. Coverage in today’s Toronto Star is here. The basic findings, that there is still a lot of slack in the job market compared to the pre […]
Read moreWednesday April 15th is a global day of action on a $15 minimum wage and decent work. Actions are happening across the U.S., and in BC, Ontario, and Nova Scotia. Both in the US and in Canada, workers are making links between decent wages and other employment standards. The Ontario campaign is named $15 and Fairness, calling for a “$15 minimum […]
Read moreThe Canadian labour market added 29,000 jobs in March, beating expectations. Underneath the headline, though, the numbers aren’t as rosy. A jump of 57,000 part-time jobs masked the loss of 28,000 full-time jobs between February and March. Given the jumpy nature of monthly LFS data, I’ve decided to base most of my analysis on quarterly numbers. And since most of […]
Read moreBalanced budget legislation will be disastrous for Canada Louis-Philippe Rochon Associate Professor of Economics, Laurentian University Co-Editor, Review of Keynesian Economics Twitter @LPROCHON Finance Minister Joe Oliver’s latest muses about introducing balanced budget legislation is the worst policy for Canada, and will doom us to European-style crises and rob future generations of prosperity. While the details of the specific […]
Read moreTHE FEDERAL BUDGET AND CANADA’S ANNUS HORRIBILIS See Original post here for the CBC. Canada’s Finance Minister Joe Oliver announced a new – and long overdue – federal budget for April 21. With the Canadian economy doing so badly, this budget will be crucial. Will the minister do the right thing and give Canadians a budget that will stimulate the […]
Read moreThe Ontario government has launched a review of their Labour Relations Act and Employment Standards Act. The premise is that the workplace has changed, and Ontario labour law no longer does as much as  it should to protect vulnerable workers. The Workers’ Action Centre in Toronto took this opportunity to document the myriad ways that workers are left behind, and […]
Read moreOver at the blog of Northern Public Affairs, I’ve written a post titled “Ten Things to Know About Homelessness in Canada’s North.” Topics covered in the post include the high cost of construction in many parts of the North, the relatively high costs of operating housing in the North, and declining federal funding for social housing in the North. The […]
Read moreThe Sask. Party government pulled out all the stops yesterday to report an ostensibly balanced budget, quite possibly the last one before next spring’s provincial election. Revenue Assumptions The drop in oil prices is a huge fiscal blow to Saskatchewan, and one of the ways the government projects continued balanced budgets is by assuming a rebound in oil prices. Perhaps more […]
Read moreIn light of the latest NAFTA Chapter 11 decision to go against Canada, I was asked to put together some background notes for our Unifor leadership on this bizarre quasi-judicial kangaroo courtsystem. Here they are, in case they are useful for anyone else getting up to speed on the whole investor-state dispute system. Some very good and more detailed resources […]
Read moreLouis-Philippe ROCHON Associate Professor, Laurentian University Co-Editor, Review of Keynesian Economics Follow him on Twitter @Lprochon With data on the performance of Canada’s labour market released today, many economists and pundits on both sides of the 49th parallel are arguing that what seems to be emerging is two very clear and different paths for the US and Canadian economies. […]
Read moreThe Fredericton Daily Gleaner published an op-ed I wrote about how the province doesn’t have a structural deficit, despite the government claiming it does. The commentary piece is behind a pay wall so I’ve copied it below. Last month, CUPE New Brunswick also published a paper I wrote on this issue, Deficit Déjà Voodoo: is New Brunswick really headed off the […]
Read moreJean-Francois Ponsot Associate Professor of Economics, Université de Grenoble (France) and Louis-Philippe Rochon Associate Professor of Economics, Laurentian University (Canada) Co-Editor, Review of Keynesian Economics ___________________ The final agreement between Greece and the Eurogroup is a disappointment for anyone who held high hopes that Greece would have taken away more than a mere extension to the existing deal. In the […]
Read moreI started producing an e-weekly earlier this year, Eye on the Economy: making sense of recent economic events, as a more regularly complement to the quarterly Economy at Work I also produce. Each issue contains a main commentary/analysis piece on a topical issue and also a curated round up with about five shorter briefs.  In an age of info overload and never […]
Read moreCanada’s economic and fiscal debates in recent months have been dominated by the possible impacts of the sudden fall in oil prices since last autumn on growth, employment, and fiscal balances. Finance Minister Joe Oliver delayed the budget, the Bank of Canada shocked markets with a rate cut, and Alberta Premier Jim Prentice is now promising a shock-and-awe austerity budget […]
Read moreThe Harper government gives five reasons why Canadians ought to be happy with its proposal to double the maximum contribution to the Tax-Free Savings Account. Examine each of its points more closely, however, and it’s clear that the TFSA carries far higher risks than rewards for individual Canadians as well as for the economy as a whole. Let’s unpack the […]
Read moreAs Target Canada tumbled into bankruptcy, Loblaw announced that its fourth-quarter profits more than doubled. What can be learned from this tale of two retailers? The main reason for Loblaw’s surge was its acquisition of Shoppers Drug Mart last March, which turned it into Canada’s largest grocer and pharmacy chain. Shoppers contributed $3 billion to Loblaw’s $11.4 billion take in […]
Read moreHere is an extract from my column on balanced budgets in the Globe ROB today. “When it comes to balancing the books, the Harper government is seemingly more Catholic than the Pope. Even the International Monetary Fund (IMF), hardly big fans of high government spending, argue in their latest Country Report released in January that the federal government should ease […]
Read moreI have a new case study (full pdf; summary article from the publishers) out as part of the Economists for Equity and Environment‘s Future Economy Initiative. I look at the City of Vancouver’s Neighbourhood Energy Utility (NEU), a low-carbon district energy system that hits a sweet spot of clean energy, local control, and stable prices at competitive rates. The NEU arose as part […]
Read moreLOUIS-PHILIPPE ROCHON Associate Professor, Laurentian University Co-editor, Review of Keynesian Economics Follow him on Twitter @Lprochon ________________________ As I have said before (see here) and will say again: any solution to Greek’s tragedy, which involves keeping the Euro as a currency is a second-best solution, unless the appropriate institutional changes are adopted. Anything short of this will simply maintain the […]
Read moreThere is some discussion in Nova Scotia about the possibility of the government introducing a carbon tax in the next budget. In this blog post I will introduce the context within which these discussions are taking place, and make reference to other blog posts in this forum that provide insights into how the province might best approach a carbon tax […]
Read more2015 marks the sixth year of BC’s recovery from the recession. But it’s been a slow and largely jobless recovery in BC. 1. BC needs 93,000 more jobs to return to our pre-recession employment rate (the proportion of working age British Columbians who have jobs). Only 71.2% of working age British Columbians have jobs today. This is practically the same share […]
Read moreThe banner headline across the top of the front page of the national Globe and Mail edition caught my eye Saturday morning: “How B.C. became a ‘have’ province.” Wow, I thought to myself, that is quite something (and without a single LNG plant yet visible on the horizon!). So I prepared to sit down with my coffee to give this […]
Read morePosted earlier as an opinion piece for CBC. See original post here (this post slightly modified from original) By Louis-Philippe Rochon Follow him on Twitter @Lprochon Much was at stake earlier this week when finance ministers from G20 countries met in Istanbul to discuss Greece and the state of the world economy in light of recent downgrades in world growth expectations. […]
Read moreThe job market is changing rapidly. While most workers of our parents’Â generation could have reasonably expected to spend their entire working careers in permanent full-time jobs with one or two employers, today many rely on contract work or freelancing, and even regular full-time employees change jobs frequently. There are pros and cons to this shift, but one very significant problem […]
Read moreThis is a guest blog post from Louis-Philippe Rochon. Follow him on Twitter @Lprochon. — What a tumultuous few weeks we witnessed in Greece. Though the victory of Syriza was ill-received in particular in Germany and the European Central Bank, it was nonetheless a resounding victory for democracy. This victory may now spill into other countries and give much credence […]
Read moreJason Kenney has been promoted to Minister of National Defence, and Pierre Poilievre has been tapped to replace him at Employment and Social Development Canada. Sigh. It seems like such a short time ago that I railed against Jason Kenney’s first tweet as Minister of ESDC. At least Kenney’s tweet had something to do with employment and jobs. Pierre Poilievre, […]
Read moreAs usual, the monthly Labour Force Survey numbers headline seems to tell a different story than the underlying numbers. According to the LFS, Canada added 35,000 jobs in January. A statistically significant number of jobs, hurray! But wait. Those were all part time jobs. We lost 10,000 full time jobs, and added 47,000 part-time jobs. Oh, and they were all […]
Read moreThis guest blog post has been written by Louis-Philippe Rochon. You can follow him on Twitter @Lprochon – Harper’s recent incarnation as an anti-terrorist crusader has caught many Canadians by surprise. Harper is spending considerable political energy beating the drums of war against terrorists, and introducing a far-reaching, and much condemned, bill aimed at restricting free speech, and increasing police […]
Read moreIn a recent CBC blog post, Louis-Philippe Rochon assesses the current state of the Canadian economy. The link to the blog post is here. Follow him on Twitter @Lprochon.
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