Job market stalls again in February • CRA appointment to board of management • EI recipients increase in December: StatsCan • EI claims stagnant in December • B.C. budget does not propose changesto personal income tax rates
Job market stalls again in February
OTTAWA (Reuters) — Canada unexpectedly failed to create any new jobs in February, continuing a trend of stalled employment despite healthy economic growth rates and contrasting with renewed strength in the United States. The net job losses in the month totaled 2,800 compared with the consensus forecast for gains of 14,500, with the biggest declines in retail and wholesale trade. The unemployment rate nonetheless dropped to 7.4 per cent in the month from 7.6 per cent in January, largely because 38,000 people dropped out of the workforce, the biggest such move since January 2009. Canada had recovered all the jobs lost during the recession by early 2011, but the labour market began to stall in the second half of the year and now lags behind U.S. employment, which has taken flight from a prolonged slump. The data comes a day after the Bank of Canada issued a more upbeat outlook for the economy but opted to hold its benchmark interest rate unchanged at one per cent. The report supports analysts’ view that a rate increase may come sooner than previously expected but is not imminent. Statistics Canada said there were 12,000 fewer part-time positions, while full-time jobs grew by 9,100. The public sector shed 13,400 jobs in the month while private sector payrolls shrank by a milder 1,700 positions.
CRA appointment to board of management
OTTAWA — Robert Manning has been appointed to the Canada Revenue Agency (CRA) Board of Management. Manning was nominated by the province of New Brunswick. Manning will be a valuable addition, said Gail Shea, minister of national revenue. While the minister of national revenue retains full accountability to parliament and to Canadian citizens for all CRA activities, the board of management is responsible for overseeing the organization and administration of the agency and the management of its resources, services, property, personnel and contracts, according to the CRA.
EI recipients increase in December: StatsCan
OTTAWA — The number of people receiving regular employment insurance (EI) benefits edged up 4,200 or 0.8 per cent to 544,700 in December, according to Statistics Canada. The number of beneficiaries remained relatively stable during the final quarter of the year, but was down 109,400, or 16.7 per cent, compared with 12 months earlier. There were more people receiving benefits in six provinces, with the largest percentage increases occurring in Manitoba, Saskatchewan and Ontario. The largest decline was observed in Newfoundland and Labrador. The number of people receiving regular EI benefits in December rose in six provinces, with the largest percentage increases occurring in Manitoba (3.7 per cent), Saskatchewan (3.6 per cent) and Ontario (2.6 per cent). At the same time, the number of beneficiaries in Newfoundland and Labrador fell 2.1 per cent.
EI claims stagnant in December
OTTAWA — To receive EI benefits, individuals must first submit a claim. The number of claims provides an indication of the number of people who could become beneficiaries. Nationally, the number of initial and renewal claims was essentially unchanged, at 238,000 in December. Provincially, the number of claims declined 4.8 per cent in Saskatchewan and 1.8 per cent in Quebec.
B.C. budget does not propose changesto personal income tax rates
VANCOUVER — British Columbia Finance Minister Kevin Falcon delivered the province’s 2012 budget without any proposed changes to personal income tax rates. The budget proposes to decrease the basic personal amount claimed on a British Columbia Personal Tax Credits Return (TD1BC) as a result of the elimination of the harmonized sales tax (HST) on April 1, 2013. The basic personal amount was increased from $9,373 in 2009 to $11,000 in 2010 as part of a switch from the goods and services tax (GST) and provincial sales tax (PST) to the HST. Last year provincial residents voted in a referendum to eliminate the HST and return to the GST and PST. With the elimination of the HST next year, the government proposes to return to the 2009 amount of $9,373, plus any increases due to indexing that would have occurred since then. For 2013, the government proposes the basic personal amount be set at what it calls a “blended amount” to take into account the higher basic personal amount will apply from Jan. 1, 2013 to March 31, 2013 while the HST is in effect and the lower amount that will apply once the HST is replaced by the GST and PST. Budget documents note that the exact amount for 2013 will be announced later this year. The budget proposes to increase the premium rates for the Medical Services Plan (MSP), effective Jan. 1, 2013. Budget documents indicate premiums for a single person would rise from $64 per month to $66.50. The maximum premium for a family of two would increase from $116 per month to $120.50 and for a family of three or more it would increase from $128 per month to $133.
OTTAWA (Reuters) — Canada unexpectedly failed to create any new jobs in February, continuing a trend of stalled employment despite healthy economic growth rates and contrasting with renewed strength in the United States. The net job losses in the month totaled 2,800 compared with the consensus forecast for gains of 14,500, with the biggest declines in retail and wholesale trade. The unemployment rate nonetheless dropped to 7.4 per cent in the month from 7.6 per cent in January, largely because 38,000 people dropped out of the workforce, the biggest such move since January 2009. Canada had recovered all the jobs lost during the recession by early 2011, but the labour market began to stall in the second half of the year and now lags behind U.S. employment, which has taken flight from a prolonged slump. The data comes a day after the Bank of Canada issued a more upbeat outlook for the economy but opted to hold its benchmark interest rate unchanged at one per cent. The report supports analysts’ view that a rate increase may come sooner than previously expected but is not imminent. Statistics Canada said there were 12,000 fewer part-time positions, while full-time jobs grew by 9,100. The public sector shed 13,400 jobs in the month while private sector payrolls shrank by a milder 1,700 positions.
CRA appointment to board of management
OTTAWA — Robert Manning has been appointed to the Canada Revenue Agency (CRA) Board of Management. Manning was nominated by the province of New Brunswick. Manning will be a valuable addition, said Gail Shea, minister of national revenue. While the minister of national revenue retains full accountability to parliament and to Canadian citizens for all CRA activities, the board of management is responsible for overseeing the organization and administration of the agency and the management of its resources, services, property, personnel and contracts, according to the CRA.
EI recipients increase in December: StatsCan
OTTAWA — The number of people receiving regular employment insurance (EI) benefits edged up 4,200 or 0.8 per cent to 544,700 in December, according to Statistics Canada. The number of beneficiaries remained relatively stable during the final quarter of the year, but was down 109,400, or 16.7 per cent, compared with 12 months earlier. There were more people receiving benefits in six provinces, with the largest percentage increases occurring in Manitoba, Saskatchewan and Ontario. The largest decline was observed in Newfoundland and Labrador. The number of people receiving regular EI benefits in December rose in six provinces, with the largest percentage increases occurring in Manitoba (3.7 per cent), Saskatchewan (3.6 per cent) and Ontario (2.6 per cent). At the same time, the number of beneficiaries in Newfoundland and Labrador fell 2.1 per cent.
EI claims stagnant in December
OTTAWA — To receive EI benefits, individuals must first submit a claim. The number of claims provides an indication of the number of people who could become beneficiaries. Nationally, the number of initial and renewal claims was essentially unchanged, at 238,000 in December. Provincially, the number of claims declined 4.8 per cent in Saskatchewan and 1.8 per cent in Quebec.
B.C. budget does not propose changesto personal income tax rates
VANCOUVER — British Columbia Finance Minister Kevin Falcon delivered the province’s 2012 budget without any proposed changes to personal income tax rates. The budget proposes to decrease the basic personal amount claimed on a British Columbia Personal Tax Credits Return (TD1BC) as a result of the elimination of the harmonized sales tax (HST) on April 1, 2013. The basic personal amount was increased from $9,373 in 2009 to $11,000 in 2010 as part of a switch from the goods and services tax (GST) and provincial sales tax (PST) to the HST. Last year provincial residents voted in a referendum to eliminate the HST and return to the GST and PST. With the elimination of the HST next year, the government proposes to return to the 2009 amount of $9,373, plus any increases due to indexing that would have occurred since then. For 2013, the government proposes the basic personal amount be set at what it calls a “blended amount” to take into account the higher basic personal amount will apply from Jan. 1, 2013 to March 31, 2013 while the HST is in effect and the lower amount that will apply once the HST is replaced by the GST and PST. Budget documents note that the exact amount for 2013 will be announced later this year. The budget proposes to increase the premium rates for the Medical Services Plan (MSP), effective Jan. 1, 2013. Budget documents indicate premiums for a single person would rise from $64 per month to $66.50. The maximum premium for a family of two would increase from $116 per month to $120.50 and for a family of three or more it would increase from $128 per month to $133.
