Sep. 4, 2020

CANADIAN AUGUST EMPLOYMENT

  • Canada 246,000 jobs in August vs 240,000 expected.
    • Canadian employment is now within 1.1 million of pre-COVID February level
    • Full time jobs were up 206,000
    • Women added 150,000 new jobs; men added 96,000
    • Canadians working from home in August reached 2.5 million vs 3.4 million in April
  • Unemployment rate 10.2% vs 10.9% M/M.
    • Visible minorities unemployment rate ranges from 16.6% to 17.9% depending upon ethnicity
  • Provincially:
    • Ontario added 142,000 jobs (nearly all full time) and is within 93.6% of pre-pandemic level
    • Quebec added 54,000 jobs and is within 95.7% of pre-pandemic level
    • BC added 15,000 jobs to 94.1% of pre-pandemic level.

ALBERTA EMPLOYMENT

  • Alberta added 9,700 jobs in August (8,200 full time)
  • Unemployment rate 11.8% vs 12.8%
    • Edmonton added 24,400 jobs; unemployment rate 13.6% vs 15% M/M
    • Calgary added 26,900 jobs; unemployment rate 14.4% vs 15.5% M/M

UNITED STATES AUGUST EMPLOYMENT

  • US added 1,370,000 in August vs 1,350,000 expected.
    • Includes 238,000 temporary Census workers
  • Unemployment rate fell to 8.4% vs 10.2% in July (4th consecutive decline)
  • Number of unemployed fell to 13.6 million vs 16.4 million in July (4th consecutive decline)
    • February had 7.8 million unemployed
    • Number of permanent job losses increased 534,000 in August to 3.4 million.
  • Participation rate rose to 61.7% vs 61.4% in July

TIDBITS

  • BC government is delaying the implementation of several taxes, including increasing the carbon tax, due to the COVID-19 pandemic.
  • Westjet and Vancouver International Airport have launched a pilot project to test passengers for COVID-19 on departing flights.
  • Hybrit, a Swedish company, is testing operations for the production of fossil-free iron.
    • Aim is to reduce CO2 emissions to 25 kg per metric ton of steel using hydrogen power vs 1.6 tons of CO2 produced using traditional methods
  • Unilever is spending $1 billion to rid its cleaning products of fossil fuels by 2030 and is planning to zero out emissions from operations and suppliers by 2039.
  • European Union has vowed to create a raw-materials alliance by the end of 2020 so they do not have to rely entirely on third countries.
  • Trump’s administration is relaxing requirements to reduce toxic heavy metal pollution from coal-fired power plants.
  • Walmart is launching its ‘Walmart Plus’ platform to compete with Amazon Prime in the next 2 weeks.
    • Walmart Plus will include free shipping including groceries and discounts on gasoline
  • An abandoned Sears Warehouse in Quebec now houses the world’s largest commercial rooftop greenhouse.
    • Equivalent of 3 football fields worth of food.