YWCHSB distributing surplus to employers; New government cancelling HST rate increase; Average weekly earnings up in September: StatsCan
YWCHSB distributing surplus to employers
WHITEHORSE — The Yukon Workers’ Compensation Health and Safety Board (YWCHSB) says it is distributing $10 million in excess reserves to employers.
Board chair Mark Pike says the YWCHSB has more money than it needs to provide benefits to workers injured on the job thanks to good investment returns and what he calls "positive operational results."
The $10-million rebate to employers will bring the board’s compensation fund closer to its target range. Pike says the board likes to have a reserve fund of between 121 and 129 per cent of the cost of caring for workers injured on the job. "At the end of 2014, the compensation fund was at 160 per cent," he adds.
The amount the board is distributing to individual employers is based on total assessments each employer paid from Jan. 1, 2012, to Dec. 31, 2014.
The board is holding back payments to employers that have not paid their assessments, have outstanding or unresolved fines, appeals or orders, have significant compliance issues with claims (such as late filing or return to work issues) or have information outstanding (such as, actual payroll data not being reported). Once an employer resolves its issues, the board will pay the employer its share of the rebate.
New government cancelling HST rate increase
ST. JOHN’S — Newfoundland and Labrador’s new Liberal government says it will not follow through on a commitment by the province’s previous Progressive Conservative government to raise the rate of the harmonized sales tax (HST).
The previous government announced in last year’s budget it would raise the HST rate from 13 per cent to 15 per cent on Jan. 1, 2016, by increasing the provincial portion of the tax from eight per cent to 10 per cent.
During a recent election campaign, the provincial Liberal party said it would cancel the rate increase if elected.
Average weekly earnings up in September: StatsCan
OTTAWA — Average weekly earnings of non-farm payroll employees were $955 in September, up from $945 in August, Statistics Canada reports. Statistics Canada revised the August numbers from the previously reported $947.
On a year-over-year basis, weekly earnings increased 1.7 per cent in September. The increase in weekly earnings during the 12 months to September reflected a number of factors, including wage growth, changes in the composition of employment by industry, occupation and level of job experience, as well as average hours worked per week.
Non-farm payroll employees worked an average of 33 hours a week in September, up from 32.8 hours in August.
Year-over-year earnings of non-farm payroll employees increased in seven provinces in September, including Prince Edward Island, Quebec, Ontario, Nova Scotia, New Brunswick, British Columbia and Manitoba.
They declined in Alberta and were little changed in Newfoundland and Labrador and Saskatchewan.
Unemployment rate rose to 7.1 per cent in November: StatsCan
OTTAWA — Canada’s economy lost about 36,000 jobs in November, raising the country’s unemployment rate from seven per cent to 7.1 per cent, Statistics Canada reports.
The number of employees decreased in both the private and public sectors in November, although compared with 12 months earlier, employment across the country was up by 124,000, with all the gains in full-time work.
Industries where employment decreased included public administration, wholesale and retail trade, as well as information, culture and recreation.
Employment was up in professional, scientific and technical services, manufacturing, construction and agriculture.
On a provincial basis, Newfoundland and Labrador continued to have the highest unemployment rate at 13 per cent, unchanged from October.
The unemployment rate went up in Alberta (from 6.6 per cent to seven per cent), Manitoba (from 5.3 per cent to 6.1 per cent), Nova Scotia (from 7.8 per cent to 8.6 per cent), Ontario (from 6.8 per cent to 6.9 per cent) and Prince Edward Island (from 9.9 per cent to 10.4 per cent).
The unemployment rate went down in British Columbia (from 6.3 per cent to 6.2 per cent), New Brunswick (from nine per cent to 8.7 per cent), Quebec (from 7.7 per cent to 7.5 per cent) and Saskatchewan (from 5.6 per cent to 5.5 per cent).
In the United States, the U.S. Bureau of Labor Statistics reports that the American economy added 211,000 jobs in November, but the unemployment rate remained unchanged at five per cent.
