Latest Report in our Business Data Lab Local Spending Tracker Shows Some Signs of Change Ahead
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Canadian consumers kept spending in the second quarter of 2023, continuing a trend of resilience in the face of higher interest rates and affordability challenges. But will this summer finally mark a turning point?
In our latest data dive, indications are that spending turned a corner after the Bank of Canada resumed its interest rate hikes in early June. It's possible that this summer things may begin to change for Canadian consumers and Canada’s economy. Forecasters have repeatedly pushed off the timing for a recession, as consumers, labour markets and housing have surprised on the upside. As the BDL team looks ahead, they expect consumer spending to slow noticeably in the second half of the year as people cut back on discretionary purchases.
Through our Local Spending Tracker find out what’s going on in your region.
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Canadian Food Inspection Agency Launches Consultation on Origin Labelling of Imported Foods from a Contested Territory
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Consumers are increasingly knowledgeable about food labels and labelling is one of the most important and direct ways for the industry to share information. All food sold in Canada must be properly labelled in a way that is not false or misleading, including origin indications.
The Canadian Food Inspection Agency (CFIA) has launched a consultation with consumers and other interested stakeholders to obtain feedback on how to label the origin of imported food from contested territories. For this consultation, a contested territory means an area outside of Canada that is subject to competing claims of control by third parties.
The consultation is open now and runs until October 10, 2023.
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More than 250 Industry Associations Call on Government to Extend Deadline for CEBA Loan Repayments
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Last week, we signed off on a letter to Deputy Prime Minister and Finance Minister Chrystia Freeland urging the government to extend the Canada Emergency Business Account (CEBA) repayment deadline. We were joined by over 280 industry associations in making this request.
As our Senior Vice President Policy Matthew Holmes said ... “not all businesses have their heads above water yet: they’re facing extreme inflation, unreliable supply chains, and the tightest hiring market in a generation. They’re just asking for more time to pay the government back.”
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AGM & Convention 2023: Keynote Address
Two Day Event | Calgary, Alberta 📍
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We are very excited to welcome Eric Termuende as the keynote speaker at our AGM & Convention this October! Eric is a best-selling author, thought leader and co-founder of NoW Work, an organization dedicated to rehumanizing the workplace. His evidence-backed research brings a fresh perspective to his presentations and we are looking forward to welcoming him to our stage in Calgary!
Have you registered yet? Early bird pricing ends September 8.
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Decoding Employee Compensation: Determining the Right Salary
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“What should I pay my employees?” is an important question business owners often ask themselves. But where do you get the trusted data to get it right?
Our SME Institute has partnered with Salary.com to help businesses with their compensation practices so they can efficiently and accurately achieve internal pay equity and adapt to market changes.
Interested in some help? Book a call with a consultant now or check out our partnered training programs with Salary.com.
The first course, 'ABCs of Pay: Attracting and Keeping Great Employees' starts this September.
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Friday Deadline: Inclusive Growth Awards Nominations
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Presented during our AGM & Convention 2023 in Calgary A.B., the Inclusive Growth Awards recognize chambers of commerce, boards of trade and their members across the country that do exceptional work to remove barriers and create a more diverse, equitable and inclusive economy. These awards also recognize Indigenous and other underrepresented entrepreneurs who have demonstrated excellence in innovation and social impact.
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Suncor Releases Two Important Reports on Sustainability and Climate
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Suncor broke new ground when it first began publicly reporting its sustainability performance in the mid-1990s. Twenty-eight years later, the Report on Sustainability and its companion publication, the Climate Report, continue the practice of disclosing the company’s progress in more than a dozen areas of environmental, social and governance (ESG) performance.
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2023 Consultations on Immigration Levels
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Every year, Immigration, Refugees and Citizenship Canada (IRCC) engages with a wide range of stakeholders from across the country to help us shape Canada’s next Immigration Levels Plan, which will be announced in the fall of 2023.
The Immigration Levels Plan is a projection of how many permanent residents will be admitted to Canada each year and sets targets for overall admissions per immigration category. It builds on ongoing work to strengthen our immigration system and spread the benefits of immigration to communities across the country.
IRCC seeks input until August 4.
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Toronto Pearson Airport Records Enhanced Operational Efficiency in Summer 2023 Compared to Summer 2022
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Last week, President and Chief Executive Officer of the Greater Toronto Airports Authority (GTAA) Deborah Flint provided Toronto Pearson International Airport’s mid-summer performance update.
Since last summer, Toronto Pearson has tangibly improved passenger experience across its operations, implemented digital innovations and bolstered staffing. These advancements have expedited check-in and boarding processes, reduced wait times and upgraded baggage infrastructure.
Due to these improvements, Toronto Pearson was recently informed that it has secured the top position in the Airports Council International (ACI) Large Airport Category for the second quarter.
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