Economies

Unemployment rates have dropped across the nation, with eight states hitting record-low levels last month. Hawaii’s jobless rate of 2.1 percent in March was the lowest in the nation, according to the Bureau of Labor Statistics. In addition, Idaho, Iowa, Maine, Nebraska, New Hampshire, North Dakota, Vermont, and Wisconsin had unemployment rates lower than 3 […]

VICTORIA—British Columbia’s government wants to crack down on tax evasion in the condominium market and has given municipalities more control over rental housing as it looks for ways of easing a housing crunch. Finance minister Carole James said legislation introduced April 24 would require developers to collect and report buyer information on the purchase and […]

WASHINGTON—The new tax code is beginning to bear fruit, boosting capital investment that will eventually benefit workers, according to Kevin Hassett, chairman of the White House Council of Economic Advisers. “I expect that—when we get the after-tax income distribution data for this year—income inequality will go down,” said Hassett at the Institute of International Finance […]

TORONTO—Ontario’s Progressive Conservatives promised on April 18 to cut the provincial corporate income tax if they win the spring election, saying the move would stimulate job growth and boost the economy. Newly minted Tory Leader Doug Ford said his party would cut the rate from the current 11.5 percent to 10.5 percent. “We’re going to […]

OTTAWA—The Bank of Canada painted a rosier picture of the Canadian economy on April 18, with higher growth and inflation forecasts, after a slowdown in the first quarter. It held its key policy rate at 1.25 percent, as most expected, but did not provide more clarity on future rate hikes. “Our uncertainty is about how […]

Foreign capital has been paramount to building Canada, but in the competition to attract ongoing international investment, Canada is at a crossroads.

The stock market has been misbehaving in 2018, and the erstwhile pattern of 2 to 3 percent corrections followed by new highs has been broken. First, there was a 12 percent mini-crash, then a rally, then another drawdown—and no new high, at least not yet. Most pundits think this is just a repeat of the […]

Someday, self-driving freight trucks may rule the highways in America. But today, an acute shortage of truck drivers across the United States is concern for companies and economists.

What makes us human will best ensure our survival in an era of jobs automation—but our education system also needs to teach skills instead of theory.

WASHINGTON—The Trump administration’s tariffs on steel and aluminum imports seem to be bearing fruit. U.S. Trade Representative Robert Lighthizer and South Korea’s Trade Minister Kim Hyun-chong have reached a trade agreement in principle, according to the White House. Once finalized, this would be the first renegotiation of a trade deal in U.S. history, said a […]

WASHINGTON—U.S. television commentator and conservative economic analyst Larry Kudlow will replace Gary Cohn as President Donald Trump’s top economic adviser, the White House and Kudlow said on March 14, adding another loyalist to Trump’s inner circle. Kudlow, a Republican who served as an economic adviser to former President Ronald Reagan in the 1980s and also worked on Wall Street, is an ardent advocate of “supply side” economic policies that focus on cutting taxes […]

Bank notes and coins—physical cash—don’t appear to be dying some kind of slow death.

TORONTO—Canadians’ collective household debt has climbed to $1.8 trillion as an international financial group sounds an early warning that the country’s banking system is at risk from rising debt levels. Equifax Canada said in a new report Monday that Canadian consumers now owe $1.821 trillion including mortgages as of the fourth-quarter of 2017, marking a […]

States across the country are ready to reap the benefits of rising business and investor confidence and are racing to attract foreign and domestic investors. States like Kentucky, which was hard hit by the downturn in coal and manufacturing in the last two decades, have started seeing a record level of investments. Kentucky announced $9.2 […]

A whopping 313,000 people entered the U.S. workforce in February, crushing the economists’ expectation of 205,000 by more than 50 percent. The report is a win for President Donald Trump, who promised to bring back jobs. The news sent stocks soaring and prompted a celebratory tweet from the president. “JOBS! JOBS! JOBS!” Trump wrote on […]

In a historic ceremony in Halifax on International Women’s Day, Viola Desmond became the first black person and first non-royal woman on a regularly circulating Canadian banknote. Finance Minister Bill Morneau and Bank of Canada Governor Stephen Poloz spoke during an unveiling ceremony for the $10 note. But the star of the ceremony was Wanda […]

NEWS ANALYSIS OTTAWA—After raising rates three times in the past five meetings leading up to its interest rate decision on March 7, the Bank of Canada held its overnight rate target at 1.25 percent and signaled greater concern about growing protectionist tones. As trade uncertainty and a less competitive landscape for business become entrenched, the […]

WASHINGTON/MEXICO CITY—U.S. President Donald Trump on Monday appeared to suggest that Canada and Mexico could win exemptions to his planned sweeping tariffs on steel and aluminum if the two countries sign a new NAFTA trade deal and take other steps. He made the comments as the United States, Canada, and Mexico were wrapping up their […]

OTTAWA—Canadian Finance Minister Bill Morneau is expected to unveil a restrained budget on Tuesday, with just enough spending to assuage middle class voters under pressure from rising rates—while keeping his powder dry amid uncertainty over NAFTA. With the domestic economy going strong and the Bank of Canada hiking rates, the Liberal government is in a […]

The United States and the European Union (EU) have two completely different approaches to taxation. To make American companies more competitive, President Donald Trump kept his electoral promise and cut taxes on corporate profits significantly. To prevent the rest of the world from outcompeting European producers, the EU served notice it would renew and intensify its fight against tax evasion (violations […]