BDC CEO Michael Denham interview on small business

"We expect a provincial GDP contraction this year of around nine per cent and a recovery next year of around six per cent."

BDC CEO Michael Denham interview on small businessMichael Denham, President and CEO of BDC (Business Development Bank of Canada), talks about the Alberta economy, its recovery and offers words of advice for struggling small business owners during the current crisis brought on by the COVID-19 pandemic. Calgary's Business: What does Alberta's current economic outlook and recovery look like? Denham: "We expect a provincial…

Baby boom generation holds majority of net worth in Canada

Baby boom generation held on average almost $1.2 million in net worth in 2019, accounting for about 50 per cent of all wealth

Baby boom generation holds majority of net worth in CanadaHouseholds with a major income earner in the baby boom generation held on average almost $1.2 million in net worth in 2019, accounting for about 50 per cent of all wealth in the year prior to the pandemic, says a new report released Friday by Statistics Canada.  “Their share of household wealth remained relatively constant…

Cautious improvement for Canadian small business sentiment

CFIB says the index in June now stands at 54.6, only about two points above May readings and still well below historical norms

Cautious improvement for Canadian small business sentimentAs the economy is slowly allowed to reopen, small business sentiment in Canada is showing only cautious improvement, according to the Canadian Federation of Independent Business’ latest Business Barometer. The CFIB says the index in June now stands at 54.6, only about two points above May readings and still well below historical norms. According to…

Economic downturn takes a toll on payroll employment

In Alberta, payroll employment was down 212,200 month-over-month and by 329,400 year-over-year, says Statistics Canada report

Economic downturn takes a toll on payroll employmentFollowing a decline of almost one million payroll jobs in March, payroll employment in Canada fell by an additional 1,830,200 (-11.4 per cent) in April, bringing total losses since February to 2,769,500 (-16.3 per cent), reported Statistics Canada on Thursday. In Alberta, payroll employment was down 212,200 month-over-month and by 329,400 year-over-year. “In previous shocks…

Calgary and Edmonton housing most affordable

RBC Economics’ data showed that both Alberta cities had much lower shares of income that a household would need to cover ownership costs

Calgary and Edmonton housing most affordableCalgary and Edmonton continue to be the most affordable housing markets for major Canadian cities. In its first quarter report, Housing Trends and Affordability, RBC Economics’ data showed that both Alberta cities had much lower shares of income that a household would need to cover ownership costs. For Calgary the percentage was 38.1 per cent…

Small Business Every Day campaign launched by CFIB

Seven out of 10 business owners in Canada are worried that customers won’t come back and many are still struggling to pay bills

Small Business Every Day campaign launched by CFIBThe Canadian Federation of Independent Business has launched a new Small Business Every Day national campaign to support local businesses who continue to struggle through the COVID-19 pandemic.  In fact, the national organization says seven out of 10 business owners in Canada are worried that customers won’t come back and many are still struggling to…

Officials launching events to keep Stampede spirit alive

A number of community events are being scheduled in new and different ways to maintain Stampede spirit this year during the COVID crisis

Officials launching events to keep Stampede spirit aliveIt won't be business as usual this year for the Calgary Stampede as the annual Greatest Outdoor Show on Earth was cancelled due to the ongoing concern of the COVID-19 pandemic.  But officials are trying to keep the Stampede spirit alive with a number of community events being scheduled in new and different ways. “It’s…

WestJet organizational changes result in 3,333 layoffs

The moves are aimed at streamlining WestJet for a competitive future following the COVID-19 crisis, said the airline in a news release

WestJet organizational changes result in 3,333 layoffsCalgary-based WestJet announced Wednesday organizational changes that will see the company lay off 3,333 employees across the country due the current crisis created by the COVID-19 pandemic. In a news release, the airline said it will consolidate call centre activity in Alberta, contract out airport operations in all domestic airports outside of Vancouver, Calgary, Edmonton and Toronto, and strategically restructure its office and management staff. The…

Restaurant and bar sales in Canada plunge in April

In Alberta, sales plunged by 33.4 per cent on a month-over-month basis and by 56.2 per cent year-over-year to $348.4 million

Restaurant and bar sales in Canada plunge in AprilSales in the food services and drinking places subsector plummeted in Canada by 39.7 per cent to $2.4 billion in April compared with the previous month, with businesses across the country being closed for the entire month due to COVID-19 regulations, reported Statistics Canada on Wednesday. In Alberta, sales plunged by 33.4 per cent on…

COVID has taken a toll on all aspects of Canadian economy

From February to May, total employment has fallen by over 2.7 million, as the unemployment rate rose to a record high 13.7 per cent

COVID has taken a toll on all aspects of Canadian economyThe magnitude of change in the Canadian economy since the onset of COVID-19 has been profound, says a new report released Wednesday by Statistics Canada. From February to May, total employment has fallen by over 2.7 million, as the unemployment rate rose to a record high 13.7 per cent, it reported. Also a flash estimate…