Ontario trails the West in employment; Ontario teachers’ pension shortfall increasing; Quebec announces anti-racism policy; A contest of HR know-how
Ontario trails the West in employment
Toronto — Job growth in Ontario will continue to lag behind Alberta and British Columbia, according to economists. Job creation in Ontario is expected to be at one per cent, half the pace of Alberta and B.C., according to a 2006 forecast by Scotiabank senior economist Mary Webb. Ontario’s manufacturing sector has been hit hard by high energy prices and the strong Canadian dollar. However, Ontario can count on key service sectors to keep the economy moving forward with Toronto’s financial services sector providing a steady source of strength.
Ontario teachers’ pension shortfall increasing
Toronto — Despite a $14.1-billion return on investments, the Ontario Teachers’ Pension Plan is facing a shortfall of $31.9 billion, up from $19.4 billion last year. Future pension benefits were 77 per cent funded, down from 84 per cent. Falling interest rates and increasing numbers of retirees are to blame for the shortfall. In 1990, there were four working teachers per pensioner, but now that ratio is 1.6 to one. The CEO of the plan, Claude Lamoureux, is calling for benefit cuts and a hike in member contributions to prevent the shortfall from getting even worse. The plan administers the pensions of the province’s 163,000 elementary and secondary school teachers and 101,000 retired teachers.
Quebec announces anti-racism policy
Montreal — Quebec will adopt a policy to combat racism and discrimination, says the provincial minister responsible for cultural communities. A task force report on racism found that racism, racial discrimination and racial profiling affect access to jobs, youth crime and school dropout rates. The anti-racism policy is the result of consultations with Quebec’s black communities last fall. The minister also wants business leaders to promote Quebec’s ethnocultural diversity and support entrepreneurship in black communities.
A contest of HR know-how
Montreal — The 20th edition of the annual Excalibur Desjardins Tournament, organized by the Quebec HR association, drew a record 75 participants from 24 universities across Canada. In the two-day event, teams tested their HR acumen by analyzing case studies, identifying problem areas and offering recommendations. Taking the first prize was the team from the University of Calgary. Second and third place winners were teams from the University of Sherbrooke and the University of Quebec at Montreal, respectively.
Toronto — Job growth in Ontario will continue to lag behind Alberta and British Columbia, according to economists. Job creation in Ontario is expected to be at one per cent, half the pace of Alberta and B.C., according to a 2006 forecast by Scotiabank senior economist Mary Webb. Ontario’s manufacturing sector has been hit hard by high energy prices and the strong Canadian dollar. However, Ontario can count on key service sectors to keep the economy moving forward with Toronto’s financial services sector providing a steady source of strength.
Ontario teachers’ pension shortfall increasing
Toronto — Despite a $14.1-billion return on investments, the Ontario Teachers’ Pension Plan is facing a shortfall of $31.9 billion, up from $19.4 billion last year. Future pension benefits were 77 per cent funded, down from 84 per cent. Falling interest rates and increasing numbers of retirees are to blame for the shortfall. In 1990, there were four working teachers per pensioner, but now that ratio is 1.6 to one. The CEO of the plan, Claude Lamoureux, is calling for benefit cuts and a hike in member contributions to prevent the shortfall from getting even worse. The plan administers the pensions of the province’s 163,000 elementary and secondary school teachers and 101,000 retired teachers.
Quebec announces anti-racism policy
Montreal — Quebec will adopt a policy to combat racism and discrimination, says the provincial minister responsible for cultural communities. A task force report on racism found that racism, racial discrimination and racial profiling affect access to jobs, youth crime and school dropout rates. The anti-racism policy is the result of consultations with Quebec’s black communities last fall. The minister also wants business leaders to promote Quebec’s ethnocultural diversity and support entrepreneurship in black communities.
A contest of HR know-how
Montreal — The 20th edition of the annual Excalibur Desjardins Tournament, organized by the Quebec HR association, drew a record 75 participants from 24 universities across Canada. In the two-day event, teams tested their HR acumen by analyzing case studies, identifying problem areas and offering recommendations. Taking the first prize was the team from the University of Calgary. Second and third place winners were teams from the University of Sherbrooke and the University of Quebec at Montreal, respectively.
