MONTREAL—Alcoa will eliminate about 500 jobs by permanently closing two potlines this summer at its smelter in Baie-Comeau, Que., while also delaying construction of more efficient facilities at the smelter for three years. The company said Thursday that the job cuts will be made through retirements and attrition at the smelter, which currently has...
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OTTAWA—Statistics Canada says the economy managed to eke out 12,500 new jobs in April, enough to keep the unemployment rate unchanged at 7.2 per cent. The modest positive was about what was expected by analysts after March’s massive 54,500 contraction. The report was better in the details: there were 36,000 full- time workers added...
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One good jobs report doesn’t mean austerity measures aren’t hurting the economy. We must be desperate for something to celebrate. A mediocre employment report, showing that employers added 165,000 new jobs in April, has sent the stock market to new record highs while pushing up the price of oil and generating other rallies typically...
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Where have American jobs gone? Some have gone the way of automation. Others have gone overseas. And now, it appears that they’re also moving to the suburbs. From 2000 to 2010, the share of jobs near city centers declined in 91 of the 100 largest U.S. metropolitan areas, according to a new report from...
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Surgeons bring in more than $ 230,000 per year in average annual wages. It’s college acceptance letter season, and as students prep for four years of higher education, parents would do well to give them one piece of advice: go pre-med. The Bureau of Labor Statistics has...
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The abrupt closure of Empire Theatres Ltd.’s Empress Walk 10 Cinemas in North York doesn’t mean Empire is leaving the Toronto market, company president and CEO Stuart G. Fraser says. “We’re not pulling out of the market, we’re not pulling out of the business … The landlord wanted us to terminate our lease and...
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The Toronto stock market racked up a solid gain Friday at the end of a positive week amid strong jobs data and relief that the U.S. economy avoided a combination of government spending cuts and tax increases that came to be known as the “fiscal cliff.” The S&P/TSX composite index advanced 70.37 points higher...
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Anyone paying attention to Ontario’s flailing economy knows that the middle class is being squeezed, low-paying temporary jobs are becoming the norm and a stable future for young people appears increasingly out of reach. General Motors’ cost-driven decision to shift production of the next version of its Camaro sports car from Oshawa to Michigan...
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OTTAWA—Canada’s job market bounced back in full force in November after meek gains in October to create the most jobs in eight months, according to upbeat data that offered hope of stronger economic growth in the fourth quarter. The economy added 59,300 net new jobs in the month, mostly full-time positions and in the...
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Citigroup Inc, which has lagged behind its peers in recovering from the financial crisis, said it is cutting 11,000 jobs worldwide, about 4 percent of its staff, to save as much as $ 1.1 billion a year in expenses. The move will initially result in pre-tax charges of $ 1 billion against fourth-quarter earnings,...
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