Yukon government stepping in to build ‘safety berm’ after company misses deadlines

WASHINGTON (AP) — America’s employers posted fewer job openings in July than they had the previous month, a sign that hiring could cool in the coming months.

The Labor Department reported Wednesday that there were 7.7 million open jobs in July, down from 7.9 million in June. The pace of hiring picked up, though, from June to July.

Wednesday’s figures indicate that fewer companies are seeking to add workers despite recent data showing that consumer spending is still growing. Last week, the government estimated that the economy expanded at a healthy 3% annual rate in the April-June quarter.

The number of job openings has been trending gradually down over the past year. Yet there are still roughly 1.1 job openings for every unemployed person, Wednesday’s report showed. That reflects the economy’s continuing need for workers and marks a reversal from before the pandemic, when there were always more unemployed people than available jobs.

The July report on job openings is the first of several measures this week of the labor market’s health that the Federal Reserve will be watching closely. If clear evidence emerges that hiring is faltering, the Fed might decide at its next meeting Sept. 17-18 to start cutting its benchmark interest rate by a relatively aggressive half-percentage point. If hiring remains mostly solid, however, a more typical quarter-point rate cut would be likelier.

On Thursday, the government will report how many laid-off workers sought unemployment benefits last week. So far, most employers are largely holding onto their workers, rather than imposing layoffs, even though they have been slower to add jobs than they were earlier this year.

On Friday, the week’s highest-profile economic report — the monthly jobs data — will be released. The consensus estimate of economists is that employers added 163,000 jobs in August and that the unemployment rate ticked down from 4.3% to 4.2%.

Last month, the government reported that job gains slowed in July to just 114,000 — far fewer than expected and that the second-smallest total in 3 1/2 years — and the unemployment rate rose for a fourth straight month.

Those figures sparked fears that the economy was seriously weakening and contributed to a plunge in stock prices. Late last month, Fed Chair Jerome Powell underscored the central bank’s increasing focus on the job market, with inflations steadily fading.

In a speech at an annual economic symposium in Jackson Hole, Wyoming, Powell said that hiring has “cooled considerably” and that the Fed does not “seek or welcome further cooling” in the job market. Economists saw those comments as evidence that the Fed may accelerate its rate cuts if it decides it is needed to offset a slowdown in hiring.

The Canadian Press. All rights reserved.

Researchers in London, Ont., say they were able to detect awareness in a comatose patient with a brain injury – a finding that could significantly impact patient care.

Karnig Kazazian, a research associate at Lawson Health Research Institute and the London Health Sciences Centre, says a neuroimaging technique was used to shine a light into three patients’ brains to find activity in response to different commands.

The patients had already been deemed clinically unresponsive, meaning they had not reacted when asked to give a thumbs up, wiggle their toes or open and close their eyes.

But Kazazian says one of the patients showed significant neurological activity in the correct part of the brain when they were asked to imagine playing tennis.

He says the finding, published recently in The Proceedings of the National Academy of Sciences journal, builds on previous research that suggests 15 per cent of comatose patients have some cognitive awareness even if they appear unresponsive.

Kazazian says the technology should be made available to intensive care units across the country, as it could help doctors and family members make decisions about whether to continue aggressive care if the patient shows signs of awareness.

”By showing that some patients might still be ‘in there’ despite behaviourally showing no signs, you can imagine that this would really greatly influence that decision of whether or not you stay on life support or transition to passing away peacefully,” said Kazazian, who was co-lead author of the study.

The researchers also saw activity in the part of the patient’s brain responsible for processing auditory information when they played “complex stories.”

But the task of imagining playing a game of tennis — a test the researchers repeated five times — was the most telling sign of awareness, Kazazian said.

It triggered activity in the patient’s premotor cortex — the part of the brain that imagines movement.

“Previous work from our group has shown that you have to be conscious in order to imagine playing tennis. You have to be ‘in there’ because that’s not something that you just automatically do without any awareness,” Kazazian said.

In a less robust response, another unresponsive patient appeared to have the ability to passively perceive speech, the study found. A third patient showed no response to any of the task commands.

The light technology, called functional near infrared spectroscopy (fNIRS), shines light into the brain.

“More light absorption means more brain activity,” he said.

Before using fNIRS on the three comatose patients, the researchers tested it on more than 100 healthy participants to determine what tasks and commands were most effective at eliciting brain activity.

More research is needed with more patients to determine whether or not the brain activity detected is associated with a patient’s prognosis, Kazazian said.

His research group is in the midst of doing that with ICU patients whose families give consent.

The team will also study whether or not the fNIRS technology can be used to communicate with patients while they are comatose, Kazazian said.

This report by The Canadian Press was first published Sept. 4, 2024.

Canadian Press health coverage receives support through a partnership with the Canadian Medical Association. CP is solely responsible for this content.

The Canadian Press. All rights reserved.

OTTAWA – The Bank of Canada delivered its third consecutive interest rate cut Wednesday, bringing its key lending rate to 4.25 per cent.

The quarter percentage point rate cut was widely expected by forecasters, given ongoing softness in the economy and easing inflation.

In his written remarks, governor Tiff Macklem said the central bank’s decision reflected two considerations.

“First, headline and core inflation have continued to ease as expected,” Macklem said.

“Second, as inflation gets closer to target, we want to see economic growth pick up to absorb the slack in the economy so inflation returns sustainably to the two per cent target.”

The Bank of Canada noted that while the economy grew at a faster pace than expected in the second quarter, preliminary data for June and July suggest economic activity slowed.

“It’s said that victory goes to the bold, but the Bank of Canada went with the more cautious approach of yet another quarter point rate cut, leaving rates still well above where they will have to head to get the economy really moving again now that inflation is less of a threat,” wrote CIBC chief economist Avery Shenfeld.

Shenfeld noted that financial markets had placed small odds on a half-percentage-point cut, but the central bank opted to take a balanced approach.

Macklem reiterated that if inflation continues to ease as expected, it is “reasonable” to expect more rate cuts.

Canada’s annual inflation rate has been below three per cent for months, reaching 2.5 per cent in July.

With the central bank’s target inflation rate in sight, Macklem has been stressing the importance of balancing the upside and downside risks ahead.

“There is a risk that the upward forces on inflation could be stronger than expected,” Macklem said.

“At the same time, with inflation getting closer to the target, we need to increasingly guard against the risk that the economy is too weak and inflation falls too much.”

This report by The Canadian Press was first published Sept. 4, 2024.

The Canadian Press. All rights reserved.