Nearly 10,000 businesses apply for wage subsidy in first hours, Trudeau says

OTTAWA — Prime Minister Justin Trudeau says nearly 10,000 businesses have applied for the federal government’s wage-subsidy program to help them deal with the COVID-19 pandemic. The emergency measure will cover 75 per cent of wages for employers that have seen sharp declines in revenue since the novel coronavirus hit Canada hard in March, up […]

Economists say Ottawa must pull more levers to fix the economy

Looming economic challenges on the horizon, including softening business investment, a dip in consumer confidence and the persistently high household debt-to-income ratio should be sufficient reasons for the Bank of Canada to cut interest rates, some economists say. “We are in the throes of not just a slowdown, but a shift to an economy that […]

Canadian economy faces a prolonged period of sluggish growth

Canada’s economy is shifting into a lower gear as some of the country’s growth drivers begin to lose steam. Statistics Canada will release third-quarter gross domestic product numbers Friday that will probably show a sharp drop in growth. According to the median forecast of economists in a Bloomberg survey, the country’s expansion slowed to a […]