Jun. 7, 2019

WORLD ENVIRONMENT DAY – JUNE 5th

  • A University of Victoria study found:
    • Americans ingest an estimated 74,000 to 121,000 microplastic particles annually (≤5mm) based on only 15% of the average diet
    • People who drink only bottled water ingest about 90,000 more microplastic particles every year vs 4,000 for tap water drinkers
  • On average 8.8 million tons (max 14 mill) of plastic enters the ocean every year.
    • The Great Pacific Garbage Patch contains more than 1.8 trillion pieces of floating plastic and microplastic (250 pieces of debris for every person on Earth)
    • Upwards of 414 million pieces of trash has been found on islands in the Indian Ocean
    • Researchers have found plastic in the guts of tiny animals living 36,000 feet below surface
    • Seafood is estimated to have 1.48 particles per gram, meaning if you eat 281 grams (almost 10 oz) of seafood you are ingesting 414 microplastic particles.
  • 90% of the earth’s population are now breathing polluted air.
    • Air pollution kills 13 people every minute, > 3x malaria, tuberculosis & AIDS combined
    • The cost of air pollution on public health in the most gas polluting countries is more than 4% of their GDP
  • 70% of the oxygen in the atmosphere is produced by marine plants.

CANADA

  • Canada added 27,700 jobs in May, led by 61,500 in self-employment.
    • Unemployment decreased to 5.4% (record low) from 5.7% in April
    • Ontario accounted for 20,900 of gain
  • Alberta added a net of 5,300 jobs (lost 21,300 full-time).
    • Unemployment remains unchanged at 6.7%
    • Edmonton lost 1,100 jobs; unemployment rate down 0.1% M/M to 6.8%
    • Calgary gained 6,700 jobs; unemployment rate down 0.6% M/M to 7.0%
  • Senate passed Bill C-69 (pipeline bill) with more than 180 amendments. Despite the Senate committee recommendation to defeat Bill C-48 (tanker bill) it was passed.
  • National Bank of Canada says that 1 in 6 mortgages in Canada are up for renewal this year.
    • According to Ratehub.ca, certain buyers are seeing 5-year fixed rate mortgages as low as 2.64% and higher-risk borrowers can find rates at 2.89% (lowest since 2017).
  • Calgary has lost $300 million in municipal tax revenue as a result of the oil-patch downturn and increased vacancies of downtown offices.

UNITED STATES AND TRADE

  • US added 75,000 jobs in May vs 175,000 expected; unemployment rate is steady at 3.6%
    • Hourly earnings increased 0.2% M/M and 3.1% Y/Y.
  • Trump has threatened a 5% tariff on all imports from Mexico starting June 10th and rising to 25% in October if Mexico does not meet immigration standards.
    • Mexico exported $26 billion in farm and food goods to the US in 2018
  • Trump has threatened China with “at least” another $300 billion worth of tariffs on Chinese goods.
  • Middle income earners received an average tax cut of $930 from Trump tax cuts.
    • Current tariffs cost households $831
    • If all proposed tariff increases to Chinese and Mexican imports are implemented the cost of the trade war to households would total $3,994 annually
  • China issued a travel advisory against the US citing “frequent” shootings and robberies.
    • 3 million Chinese tourists travelled to the US in 2018 – spending more than $36 billion
  • US is preparing a $2 billion arms deal with Taiwan that will provide over 100 tanks and other anti-air and anti-armor weaponry.
  • Trump terminated India’s developing nation status – eliminating its duty-free exemption.