Connect with us

Economy

Report: Women, diversity are key to rebuilding Canada's economy – Wealth Professional

Published

 on


Climbing the ladder
Women and diverse groups are also facing struggles to climb the corporate ladder to senior leadership roles.

“While we are making some progress with women on corporate Boards, reported at 25.3% of directors, the study highlights this doesn’t hold true for racialized women, reported at just 1.2% of directors,” said  Zabeen Hirji, Executive  Advisor, Future of Work, Deloitte. “White women out-numbering racialized women on corporate boards in Toronto by 12 to 1. The talent is there, it is policies and practices that need to evolve. We need to cast a wider net.”

The challenges are particularly evident in science and technology sectors (STEM).

Occupations within some of the high-growth and high-income sectors reveal the disparity of women trying to advance in STEM fields, generally filling lower-level jobs compared to their higher-level male counterparts.

However, women have made inroads into highly paid professions such as medicine and law.

Let’s block ads! (Why?)



Source link

Continue Reading

Economy

Varcoe: Facing historic 10 per cent hit to economy, it's time for Calgary to play more offence – Calgary Herald

Published

 on


Article content continued

She also pointed to a CED study last year that found companies across the province will spend $18.4 billion on digital transformation initiatives across various industrial sectors by 2022.

CED expects the number of local technology companies to at least double by 2030, while the sector creates almost 50,000 new jobs in Calgary over the next decade.

“The offence strategy is about diversification, but it’s also about digital transformation,” Moran said in an interview.

Economic growth in 2021 will also come from areas such as agriculture, health care and clean energy technology, said ATB chief economist Todd Hirsch.

“We need to embrace the fact that the world has changed,” Hirsch said after the event.

“We need to stop trying to get back on track. What we need to do is forge a brand new track.”

ATB vice president and chief economist Todd Hirsch at the Calgary Economic Development’s Outlook for 2021 virtual event on Tuesday, Oct. 20, 2020. Photo by Video frame grab

The track has to make sure unemployed Calgarians aren’t left behind. Thousands of people need a steady paycheque. Access to education, retraining and economic supports will be critical.

Mayor Naheed Nenshi said even if the city’s GDP increases next year, he’s concerned it will bring a jobless recovery along with it.

“The work we do in Calgary needs to be singularly focused on good, decent jobs,” he said in an interview.

Finally, here’s a positive economic note, even with fierce headwinds rocking the city.

“We do see 2021 as the start of a consistent recovery period,” said Goucher.

“We see conditions essentially improving on all fronts and it should lead to a stable recovery in Calgary from 2021 and on.”

After a gruelling 2020, the recovery can’t get here soon enough.

Chris Varcoe is a Calgary Herald columnist.

cvarcoe@postmedia.com

Let’s block ads! (Why?)



Source link

Continue Reading

Economy

China's fiscal revenues rise 4.7% in third-quarter as economy gains steam – TheChronicleHerald.ca

Published

 on


BEIJING (Reuters) – China’s fiscal revenues grew 4.7% in the third quarter from a year earlier, reversing a 7.4% drop in the previous quarter, the finance ministry said on Wednesday, as the country’s economic recovery picked up pace.

China’s economy in the July to September quarter expanded by 4.9% from a year earlier, weaker than analyst expectations but faster than the second quarter’s 3.2% growth.

For the first nine months of the year, fiscal revenues fell 6.4% from a year earlier to 14.10 trillion yuan ($2.12 trillion), while fiscal expenditures dropped 1.9% to 17.519 trillion yuan, the ministry said.

Liu Jinyun, a finance ministry official, told a briefing that tax receipts could get a boost from China’s continued economic rebound in the fourth quarter.

“The decline in accumulative fiscal revenues will gradually moderate,” he said.

The government is on track to cut taxes and fees by more than 2.5 trillion yuan in 2020, including 1.88 trillion yuan in the first eight months, the ministry said.

China has allocated 200 billion yuan in local government special bonds to help resolve risks at small banks, Wang Kebing, a second finance ministry official, told the briefing.

In July, China’s cabinet said it would allow local governments to use part of the money they raise from special bonds this year to recapitalise some small banks.

China’s local governments will be allowed to issue 3.75 trillion yuan in special bonds this year, up from 2.15 trillion yuan in 2019.

(Reporting by Kevin Yao, Writing by Gabriel Crossley; Editing by Ana Nicolaci da Costa and Christian Schmollinger)

Let’s block ads! (Why?)



Source link

Continue Reading

Economy

China's fiscal revenues rise 4.7% in third-quarter as economy gains steam – The Guardian

Published

 on


BEIJING (Reuters) – China’s fiscal revenues grew 4.7% in the third quarter from a year earlier, reversing a 7.4% drop in the previous quarter, the finance ministry said on Wednesday, as the country’s economic recovery picked up pace.

China’s economy in the July to September quarter expanded by 4.9% from a year earlier, weaker than analyst expectations but faster than the second quarter’s 3.2% growth.

For the first nine months of the year, fiscal revenues fell 6.4% from a year earlier to 14.10 trillion yuan ($2.12 trillion), while fiscal expenditures dropped 1.9% to 17.519 trillion yuan, the ministry said.

Liu Jinyun, a finance ministry official, told a briefing that tax receipts could get a boost from China’s continued economic rebound in the fourth quarter.

“The decline in accumulative fiscal revenues will gradually moderate,” he said.

The government is on track to cut taxes and fees by more than 2.5 trillion yuan in 2020, including 1.88 trillion yuan in the first eight months, the ministry said.

China has allocated 200 billion yuan in local government special bonds to help resolve risks at small banks, Wang Kebing, a second finance ministry official, told the briefing.

In July, China’s cabinet said it would allow local governments to use part of the money they raise from special bonds this year to recapitalise some small banks.

China’s local governments will be allowed to issue 3.75 trillion yuan in special bonds this year, up from 2.15 trillion yuan in 2019.

(Reporting by Kevin Yao, Writing by Gabriel Crossley; Editing by Ana Nicolaci da Costa and Christian Schmollinger)

Let’s block ads! (Why?)



Source link

Continue Reading

Trending