Armine Yalnizyan is a Senior Economist with the Canadian Centre for Policy Alternatives (http://www.policyalternatives.ca).
On November 25th, I made the following submission to the House of Commons Standing Committee on Finance regarding Bill C-4, Economic Action Plan 2013 Act No. 2, on behalf of the Canadian Centre for Policy Alternatives.
1. Introduction and Context
Thank you for the invitation to appear before the Committee, as Members of Parliament review the second budget implementation bill for the budget of 2013.
It is a particular honour to appear as a witness, since this committee will only hear eight hours of testimony from witnesses — including one hour from the Finance Minister — over just 2 days of hearings. ...Read more
Tags: Economy & Economic Indicators·Federal Budget
This piece was first published in the Globe and Mail’s Economy Lab.
A company called Career Builder recently released a list of what it called the ten hottest jobs in Toronto, based on data about the occupations with the fastest increases in employment between 2010 and 2013.
That made me wonder: how does Toronto compare to the rest of the country in overall job growth? And where are the engines of job growth?
So I took a look under the hood and was surprised to learn that Toronto accounted for one in three of all jobs created in Canada between 2010 and 2013 thus far. ...Read more
Tags: Employment and Labour·Ontario
September 24th, 2013 · Armine Yalnizyan · No Comments · Capitalism
This is an experiment. I’m writing an essay based on my latest Metro Morning column. Each of these columns take hours of prep, so I thought I’d convert it into prose to see if it’s worth it. Would love your feedback.
The rise and fall (and rise?) of Blackberry is a story that has gripped our attention, and not just because it affects so many Canadians.
It’s because this tumultuous story has more plot twists than a thriller.
Yesterday the company stole the spotlight yet again with news that its future might not be dashed after all, thanks to a home-grown financial rescue package that took everyone by surprise. Here’s why it’s important: ...Read more
Tags: big business·blackberry·Capitalism·telecommunications
This piece was first published in the Globe and Mail’s Economy Lab.
Five years after a global economic crisis unleashed chaos on markets everywhere, income inequality has become an inescapable political and economic issue, in Canada as elsewhere. That’s because of mounting evidence that the increasingly skewed distribution of gains from economic growth slows future growth potential, and erodes trust that a democratically governed system is working for the benefit of the majority. ...Read more
Tags: Economy & Economic Indicators·Poverty and Income Inequality
This piece first appeared in the Globe and Mail’s online business feature, Economy Lab, here.
Two findings stand out in the National Household Survey (NHS) data released Wednesday, both critical in this post-recession era of uncertainty:
1) A quarter of Canadian households spent 30 per cent or more of their pre-tax income on shelter, the official measure of housing affordability.
2) There was virtually no change in the rate of home ownership between 2006 and 2011. It was 68.4 per cent in 2006, and 69 per cent in 2011.
I’ll explain the significance of both; but first, let’s consider how this information was collected. ...Read more
Tags: Economy & Economic Indicators·Housing
1. He’s Number Two: Stephen Poloz was widely acknowledged in economic and political circles as the second-best choice for the top job at the Bank of Canada. So the surprise was not that he was chosen. The surprise was, Why Not Tiff Macklem? Will someone please find out and tell the rest of us?
2. Doctrinaire [or not?] on Inflation Targeting: He thinks it’s “sacrosanct.” Having studied with monetary policy guru David Laidler at the University of Western Ontario, and been part of the Bank of Canada team that brought inflation targeting to a neighbourhood near you, he got the religion all right. Believers are more inclined to see a “rising inflation” problem that isn’t there. The hazard: Pulling the rising-interest-rate trigger too soon and choking off recovery. ...Read more
On the occasion of International Women’s Day, we ask: Are more women making it to the top in Canada? And what does that mean for the 100 per cent? The 2013 edition, by the numbers. (All data are most recently available statistics.)
1 out of 5: 21 per cent of the people in the top 1 per cent of income earners were women 2010 (total incomes over $201,400). In 1982: 1 in 10 (11 per cent) Source
18 per cent: Women’s share of income of the top 1 per cent in 2010. In 1982: 11 per cent Source ...Read more
Tags: Gender Equality·Income Inequality·Women
A version of this article appeared today in the Globe and Mail’s Economy Lab.
(This version includes references to the debate plus charts and graphs from data specially tabulated from Statistics Canada’s Labour Force Survey. The data don’t include the self-employed.)
President Obama put the idea of raising the minimum wage on the radar in the U.S. It deserves to be on the radar in Canada too. That’s because low-wage work is on the rise.
Obama says raising the federal minimum wage from $7.25 to $9 an hour is good for families dependent on low-wage jobs, and for businesses dependent on more consumer power to fuel their growth. A growing economy helps balance the books too. ...Read more
Tags: Economy & Economic Indicators·minimum wage
This article was published in an abridged form in the National Post. I like this opening better, so I posted it here.
You couldn’t have made it through 2012 without running into a story about income inequality. Chances are, it made you think about how you fit into the story. That’s “entirely constructive”, as Bank of Canada Governor Mark Carney called the awakening triggered by the global Occupy movement.
A year later, some people think it’s time you go back to sleep. A new debate is emerging in Canada: is inequality worth discussing at all? On the “no” side are four main arguments, all deeply flawed: ...Read more
Tags: Poverty and Income Inequality
The Harper government likes to remind Canadians that we’ve done better than most developed nations in bouncing back from the global economic crisis. But digging into the data shows why many people might be having trouble cheering this news: wages have not kept pace with inflation, and new hires are making 40 per cent less than the average worker.
Tiff Macklem, senior deputy governor of the Bank of Canada, recently brought home the official storyline: The level of employment is now higher than it was before the crisis; jobs are mostly being created in the private sector, most are full-time and are emerging in industries that pay above-average wages. ...Read more
Tags: Economy & Economic Indicators·Employment and Labour