Kevin Carmichael
Economics Columnist and Editor at Large at The Logic
Economics Columnist, The Logic
Articles
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3 weeks ago |
thelogic.co | Kevin Carmichael
Chrystia Freeland has a lot on her CV. Kingslayer stands out, given her role in forcing former prime minister Justin Trudeau’s resignation. But so does her work in getting Canada’s trade agreement with the European Union over the last mile, and her stewardship of the new North American free-trade agreement. The latter has been a partial shield from President Donald Trump’s fusillade of import tariffs.
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3 weeks ago |
thelogic.co | Kevin Carmichael
The unemployment rate rose to seven per cent, the highest outside of the pandemic since 2016, as employers left a greater number of unemployed workers on the sidelines amid tariff uncertainty. Overall, hiring was little changed from April, as was the percentage of the total working age population that had a job, according to Statistics Canada.
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3 weeks ago |
thelogic.co | Kevin Carmichael
The Bank of Canada left its benchmark interest rate unchanged at 2.75 per cent, as evidence of hotter inflation trumped worries over the trade war. Governor Tiff Macklem signaled the central bank could opt to cut rates later this year if price pressures subside.
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3 weeks ago |
thelogic.co | Kevin Carmichael
Output per hour worked at business increased 0.2 per cent in the first quarter, compared with a gain of 1.2 per cent in the fourth quarter, Statistics Canada reported. (The Logic)Talking point: The productivity numbers attract little mainstream attention, but they might be the best check on the economy’s fitness level.
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3 weeks ago |
thelogic.co | Kevin Carmichael
President Donald Trump’s tariffs and the retaliation they’ve provoked, combined with general policy uncertainty and indiscriminate cuts to federal staffing, will cause the year-over-year increase in gross domestic product to slow to 1.6 per cent from 2.8 per cent in 2024, the Organisation for Economic Co-operation and Development said in a new forecast.
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