economy

Sidney council approved amendments that will save existing businesses a $100 annual renewal fee for their licences. (Black Press Media file photo)

Perpetual business licence scheme approved in Sidney

Measure passed council unanimously at last regular council meeting

 

Greater Victoria’s unemployment rate dropped to 3.5 per cent in November as key sectors added jobs. (Black Press Media file photo)

Unemployment in Greater Victoria remains low

Regional unemployment dropped to 3.5 per cent in November

 

The 2022 Christmas retail season on the Saanich Peninsula is unfolding against the backdrop of inflation and other factors. (Wolf Depner/News Staff)

Greater Victoria retailers bracing for uncertainty heading into the Christmas season

Inflation top concern for retailers, according to Statistics Canada

 

Average Sidney residents will pay an additional $1.35 for library services through the Sidney/North Saanich branch of Vancouver Island Regional Library. North Saanich residents, however, will face a more substantial increase. (Black Press Media file photo)

Sidney residents see small increase in levy toward Vancouver Island Regional Library

North Saanich will consider library levy at a later council meeting

Average Sidney residents will pay an additional $1.35 for library services through the Sidney/North Saanich branch of Vancouver Island Regional Library. North Saanich residents, however, will face a more substantial increase. (Black Press Media file photo)
Ravi Kahlon, B.C.’s minister of jobs, economic recovery and innovation, speaks at a restaurant in Delta, on September 15, 2021. Kahlon announced a new economic diversification funding program on Nov. 14, 2022. THE CANADIAN PRESS/Darryl Dyck

New economic diversification fund launched for rural, forest-dependent B.C. communities

Up to $33M available to communities, First Nations, not-for-profits

Ravi Kahlon, B.C.’s minister of jobs, economic recovery and innovation, speaks at a restaurant in Delta, on September 15, 2021. Kahlon announced a new economic diversification funding program on Nov. 14, 2022. THE CANADIAN PRESS/Darryl Dyck
Governor of the Bank of Canada Tiff Macklem says the country’s economic slowdown will impact low income earners the most. THE CANADIAN PRESS/Justin Tang

Slowdown will impact low-income earners most, says Bank of Canada governor

Tiff Macklem spoke at conference on diversity, equity Monday

Governor of the Bank of Canada Tiff Macklem says the country’s economic slowdown will impact low income earners the most. THE CANADIAN PRESS/Justin Tang
Bank of Canada Governor Tiff Macklem speaks at a press conference in Ottawa on Thursday, June 9, 2022. THE CANADIAN PRESS/ Patrick Doyle

Job losses will rise but won’t reach levels seen in past economic downturns: BoC

Slowdown necessary to halt inflation, says Bank of Canada governor

Bank of Canada Governor Tiff Macklem speaks at a press conference in Ottawa on Thursday, June 9, 2022. THE CANADIAN PRESS/ Patrick Doyle
The transportation sector was among the sectors adding jobs in Greater Victoria in October. (Wolf Depner/News Staff)

October sees unemployment rate drop to 4.3 per cent

But more people say they are struggling to meet bills

The transportation sector was among the sectors adding jobs in Greater Victoria in October. (Wolf Depner/News Staff)
Deputy Prime Minister and Minister of Finance Chrystia Freeland arrives for a news conference before tabling the Fall Fiscal Update in Ottawa, on Thursday, Nov. 3, 2022. THE CANADIAN PRESS/Justin Tang

Five things you need to know about the Liberals’ fall economic update

The federal Liberals unveiled their fall economic update Thursday — a 92-page…

Deputy Prime Minister and Minister of Finance Chrystia Freeland arrives for a news conference before tabling the Fall Fiscal Update in Ottawa, on Thursday, Nov. 3, 2022. THE CANADIAN PRESS/Justin Tang
Tiff Macklem, Governor of the Bank of Canada is seen at the Bank of Canada in Ottawa, on Wednesday, Oct. 26, 2022. THE CANADIAN PRESS/Sean Kilpatrick

Amid growing criticism, Macklem says Bank of Canada’s independence not under threat

Governor says opinions of politicians, interest groups not changing bank’s long-term plan

Tiff Macklem, Governor of the Bank of Canada is seen at the Bank of Canada in Ottawa, on Wednesday, Oct. 26, 2022. THE CANADIAN PRESS/Sean Kilpatrick
A seaplane taxis through the Inner Harbour towards the docks below the downtown core. Infrastructure like aviation will be important in keeping the Victoria visitor economy strong. (Black Press Media file photo)

Destination Greater Victoria to launch survey that will aid in 10-year planning process

A new survey asks the public to contribute their thoughts on tourism planning in Victoria

A seaplane taxis through the Inner Harbour towards the docks below the downtown core. Infrastructure like aviation will be important in keeping the Victoria visitor economy strong. (Black Press Media file photo)
Deputy Prime Minister and Minister of Finance Chrystia Freeland pauses while responding to questions during the second day of a Liberal cabinet retreat, in Vancouver, on Wednesday, September 7, 2022. THE CANADIAN PRESS/Darryl Dyck

As Canada faces potential recession, Freeland to give fall economic statement

Finance minister has already warned not to expect big money to help Canadians cope

Deputy Prime Minister and Minister of Finance Chrystia Freeland pauses while responding to questions during the second day of a Liberal cabinet retreat, in Vancouver, on Wednesday, September 7, 2022. THE CANADIAN PRESS/Darryl Dyck
A pumpjack draws out oil from a well head near Calgary, Alta., Saturday, Sept. 17, 2022. In spite of high oil prices and record company profits this year, oil and gas towns aren’t seeing the same level of economic boom they used to a decade ago. THE CANADIAN PRESS/Jeff McIntosh

Boomtown no more: How Alberta’s economy has changed, in spite of sky-high oil prices

Oil producers having to put increased profits to paying off debt and shareholders

A pumpjack draws out oil from a well head near Calgary, Alta., Saturday, Sept. 17, 2022. In spite of high oil prices and record company profits this year, oil and gas towns aren’t seeing the same level of economic boom they used to a decade ago. THE CANADIAN PRESS/Jeff McIntosh
The State of the Island Economic Summit will happen Oct. 26-27 in Nanaimo. (News Bulletin file photo)

Business and community leaders gathering for Vancouver Island Economic Summit

Sessions explore forest health and climate, future of Island food production and more

The State of the Island Economic Summit will happen Oct. 26-27 in Nanaimo. (News Bulletin file photo)
People pass a large Christmas tree as they go shopping on Christmas Eve at a mall in Ottawa on Dec. 24, 2020. A new report from Deloitte Canada says holiday spending in Canada is expected to drop this year as inflation shrinks consumer buying power and economic uncertainty looms over household finances. THE CANADIAN PRESS/Justin Tang

VIDEO: Holiday spending expected to slump amid inflation

Canadian households forecast to spend an average of $1,520 this year

People pass a large Christmas tree as they go shopping on Christmas Eve at a mall in Ottawa on Dec. 24, 2020. A new report from Deloitte Canada says holiday spending in Canada is expected to drop this year as inflation shrinks consumer buying power and economic uncertainty looms over household finances. THE CANADIAN PRESS/Justin Tang
Minister of Innovation, Science and Industry Francois-Philippe Champagne speaks to reporters at the Liberal summer caucus retreat in St. Andrews, N.B. on September 13, 2022. When Innovation Minister François-Philippe Champagne gets in front a microphone these days to talk about electrifying Canada’s auto industry, he has a favourite line to sum up his efforts to attract global investment. “Not everyone in the world wakes up thinking about Canada,” he says. His job, as he sees it, is to change that. THE CANADIAN PRESS/Darren Calabrese
Minister of Innovation, Science and Industry Francois-Philippe Champagne speaks to reporters at the Liberal summer caucus retreat in St. Andrews, N.B. on September 13, 2022. When Innovation Minister François-Philippe Champagne gets in front a microphone these days to talk about electrifying Canada’s auto industry, he has a favourite line to sum up his efforts to attract global investment. “Not everyone in the world wakes up thinking about Canada,” he says. His job, as he sees it, is to change that. THE CANADIAN PRESS/Darren Calabrese
People shop for produce and seafood at the Granville Island Market in Vancouver, on Wednesday, July 20, 2022. THE CANADIAN PRESS/Darryl Dyck

RBC economists say recession could arrive as early as Q1 of next year

Federal budget officer projects considerably slower economy, declining federal deficit

People shop for produce and seafood at the Granville Island Market in Vancouver, on Wednesday, July 20, 2022. THE CANADIAN PRESS/Darryl Dyck
Terry Teegee, regional Chief of the B.C. Assembly of First Nations speaks at a meeting between Canada's premiers and Indigenous leaders at the Songhees Wellness Centre on July 1. (Jake Romphf/News Staff)

New First Nations centre coming to B.C. to give economic development guidance

Centre will look at how to better benefit from sectors such as forestry, mining and natural gas

Terry Teegee, regional Chief of the B.C. Assembly of First Nations speaks at a meeting between Canada's premiers and Indigenous leaders at the Songhees Wellness Centre on July 1. (Jake Romphf/News Staff)
Real estate sales figures for September hit the second-lowest benchmark for the past two decades. (Black Press Media file photo)

Second worst September in two decades for Greater Victoria home sales

410 properties sold last month in Victoria Real Estate Board area

Real estate sales figures for September hit the second-lowest benchmark for the past two decades. (Black Press Media file photo)
A person walks their dog past the storefront of a Spirit Halloween on Avenue Road, in Toronto, Wednesday, Sept. 21, 2022. After two years of COVID-19 restrictions curbing Halloween festivities, some Canadians may be willing to open their wallets wide for a trendy costume or candy for trick-or-treaters. THE CANADIAN PRESS/Alex Lupul

‘Huge demand’: Supply issues could haunt Halloween amid trick-or-treating rebound

Canadians expected to pounce on the holiday after a couple years of subdued celebrations

A person walks their dog past the storefront of a Spirit Halloween on Avenue Road, in Toronto, Wednesday, Sept. 21, 2022. After two years of COVID-19 restrictions curbing Halloween festivities, some Canadians may be willing to open their wallets wide for a trendy costume or candy for trick-or-treaters. THE CANADIAN PRESS/Alex Lupul