Nov. 6, 2020

INVESTMENT INDUSTRY ASSOCIATION OF CANADA (IIAC) TOP UNDER 40 AWARDS 2020

  • Congratulations to Jim Watt who has been recognized as one of the IIAC Top Under 40.
  • This recognizes the new generation of highly motivated and talented young professionals, whose drive, dedication, personal and professional qualities and accomplishments have brought distinction to our industry.
  • The Award criteria are:
    • Commitment to the Canadian Investment Industry
    • Career Accomplishments
    • Commitment to Education
    • Community Service and Involvement

NORTH AMERICAN EMPLOYMENT DATA

  • CANADA added 84,000 jobs in October (69,000 full-time and 33,000 self-employed jobs added)
    • unemployment rate held steady at 8.9%; for visibility minorities, unemployment rate is 11.7%
    • working form home increased by 150,000
    • BC added 34,000 jobs; Ontario added 31,000
    • ALBERTA added 23,000 jobs; unemployment rate 10.7% vs 11.7% in M/M
      • Edmonton added 1,100 jobs; unemployment rate 8.1% vs 9.2% M/M
      • Calgary added 17,000 jobs; unemployment rate 11.3% vs 12.6% M/M
  • UNITED STATES added 638,000 jobs vs 530,000 expected and slightly below the 672,000 in September.
    • Unemployment rate fell to 6.9% vs 7.9% M/M (10.8% for Blacks, 7.6% for Asians, 8.8% for Hispanics)
    • Average hourly earnings increased $0.04 to $29.50

US ELECTIONS – WHERE ARE WE NOW?

  • The count goes on in Georgia, Pennsylvania, Arizona, Nevada, North Carolina.
    • 100 million votes were cast in advance, double that of 2016
  • President Trump is launching law-suits in various states. If he loses at the state level, he could appeal to the US Supreme Court.
  • Senate is still unsettled with 5 seats left to be determined:
    • Georgia has 2 senate seats up for election, both of which are going to a run-off in January
    • Arizona seat went to Democrat Mark Kelly this morning
    • Senate currently sits at 48 Democrats and 47 Republicans
    • If the Senate is tied between parties, the vice-president casts deciding votes on legislation
  • Democrats will have a smaller majority in the House of Representatives, Nancy Pelosi’s future as leader may be at risk.
  • The 2020 Presidential campaign was fueled by a record $4 billion vs $1.5 billion 2016 and $2.4 billion 2012.

TIDBITS

  • Whole Foods Market says employees are not allowed to wear poppies under their new uniform code.
  • Canada is making it easier for more than 1 million temporary students, workers and asylum seekers to gain citizenship in order to make up for a decline in immigration during the pandemic.
  • GM is investing $1 billion to reopen its Ontario assembly plant in Oshawa, bringing back 1,400 to 1,700 jobs.
  • Volvo expects to sell its first ‘heavy-duty electric trucks’ in Europe starting in 2021.