Bank of Canada Weighed Cut In July, Opted to Wait for More Data
Policymakers discussed a quarter percentage point cut at their July meeting, but the ongoing trade dispute with the US, the resilience of the Canadian economy and mounting risks to inflation ultimately led the bank's governing council to keep the policy rate at 2.75% for a third consecutive meeting.
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Wall Street Journal
a minute ago
- Wall Street Journal
Air Canada Flight Attendants to Defy Back to Work Order
OTTAWA—The union representing 10,000 flight attendants at Canada's biggest airline, Air Canada AC 0.56%increase; green up pointing triangle, says its members will disobey a government order to return to work, putting the carrier's plans to restart flights into jeopardy. The Canadian Union of Public Employees, also known as CUPE, said Sunday it would ask a judge with the country's Federal Court to block the government's order, issued hours after flight attendants walked off the job following months of negotiations over compensation.
CBS News
a minute ago
- CBS News
Air Canada says it will resume flights after government forced arbitration with flight attendants
Air Canada said it plans to resume flights on Sunday after the Canadian government intervened, forcing the airline and its striking flight attendants back to work and into arbitration. The strike, which began on Saturday morning, stranded more than 100,000 travelers around the world during the peak summer travel season. The North American country's largest airline said in a release that the first flights will resume Sunday evening but that it will take several days before its operations return to normal. It said some flights will be canceled over the next seven to 10 days until the schedule is stabilized. However, the Canadian Union of Public Employees, which represents the 10,000 flight attendants, said the demonstrations will keep going around the country, despite the airline's statement. "We invite Air Canada back to the table to negotiate a fair deal, rather than relying on the federal government to do their dirty work for them when bargaining gets a little bit tough," the union said. "We remain on strike. We demand a fair, negotiated contract and to be compensated for all hours worked." Fewer than 12 hours after workers walked off the job, Federal Jobs Minister Patty Hajdu ordered the 10,000 flight attendants back to work, saying now is not the time to take risks with the economy and noting the unprecedented tariffs the U.S. has imposed on Canada. Hajdu referred the work stoppage to the Canada Industrial Relations Board. The airline said Sunday the Canada Industrial Relations Board has extended the term of the existing collective agreement until a new one is determined by the arbitrator. The shutdown of Canada's largest airline early Saturday was impacting about 130,000 people a day. Air Canada operates around 700 flights per day. According to numbers from aviation analytics provider Cirium, Air Canada had canceled a total of 671 flights by Saturday afternoon, following 199 on Friday. And another 96 flights scheduled for Sunday were already suspended. The bitter contract fight escalated Friday as the union turned down Air Canada's prior request to enter into government-directed arbitration, which allows a third-party mediator to decide the terms of a new contract. Flight attendants walked off the job around 1 a.m. EDT on Saturday. Around the same time, Air Canada said it would begin locking flight attendants out of airports. Last year, the government forced the country's two major railroads into arbitration with their labor union during a work stoppage. The union for the rail workers is suing, arguing the government is removing a union's leverage in negotiations. The Business Council of Canada had urged the government to impose binding arbitration in this case, too. And the Canadian Chamber of Commerce welcomed the intervention. Hajdu maintained that her Liberal government is not anti-union, saying it is clear the two sides are at an impasse. Passengers whose flights are impacted will be eligible to request a full refund on the airline's website or mobile app, according to Air Canada. The airline said it would also offer alternative travel options through other Canadian and foreign airlines when possible. Still, it warned that it could not guarantee immediate rebooking because flights on other airlines are already full "due to the summer travel peak." Air Canada and the Canadian Union of Public Employees have been in contract talks for about eight months, but they have yet to reach a tentative deal. Both sides have said they remain far apart on the issue of pay and the unpaid work flight attendants do when planes aren't in the air. The airline's latest offer included a 38% increase in total compensation, including benefits and pensions, over four years, that it said "would have made our flight attendants the best compensated in Canada." But the union pushed back, saying the proposed 8% raise in the first year didn't go far enough because of inflation.
Yahoo
29 minutes ago
- Yahoo
Texas breaks jobs record, again outpaces national growth rate in July
(The Center Square) – Texas broke jobs records again in July and again outpaced the national growth rate, according to new data released by the Texas Workforce Commission. Texas again set new records in July for having the greatest total nonfarm jobs and greatest number of Texans working in state history. Texas' nonfarm jobs totaled 14,333,800 in July after adding 8,700 positions over the month. Over the year, Texas added 232,500 jobs for an annual nonfarm growth rate of 1.6%, outpacing the national growth rate by 0.6%. Texas also reached a new high for the number of Texans working, including the self-employed, of 15,213,700 in July. 'Texas continues to see sustained job growth thanks to having the best business climate in America and the productivity of hardworking Texans,' Gov. Greg Abbott said. 'With more Texans working than ever before, we must ensure Texans across our great state have access to the tools and training needed to secure better jobs and bigger paychecks.' This year the legislature passed bills expanding career training programs, which Abbott signed into law. Last week, more than $1.6 million was awarded in Jobs and Education for Texans grants to support career and technical education training programs in South Texas. Last month, Texas' civilian labor force totaled 15,848,800, representing a decrease of 1,400 people over the month. Over the year, 195,900 people were added. There was a slight dip in the labor force last month, including in the oil and natural gas industry. Despite this, 'Texas continues to create jobs, a testament to the resilience of our workforce,' TWC Commissioner Representing Labor Alberto Treviño III said. 'TWC is working hard to ensure all Texans have access to the tools and training they need to seize these new opportunities, build skills, and find meaningful work in thriving communities across our state.' The Trade, Transportation, and Utilities industry reported the largest over-the-month increase in July after adding 5,500 jobs. Professional and Business Services added 3,800 jobs; Construction added 2,800. The Construction industry also grew by 3.2% over the year, outperforming the industry's growth rate nationally by 2%. 'Texas continues to foster job growth across a wide range of industries,' TWC Commissioner Representing Employers Joe Esparza said. 'TWC works every day to ensure that the workforce powering our economy is trained, supported, and ready to grow alongside the businesses that call Texas home.' Last month, the not seasonally adjusted employment rate increased nationally and in Texas. Texas' 4.2% rate was lower than the national rate of 4.6%. The Midland Metropolitan Statistical Area reported the lowest not seasonally adjusted unemployment rate of 3.1% in July, followed by Amarillo and San Angelo MSAs' 3.2% each. The MSAs with the highest rate were Eagle Pass' 9.4%, Brownsville-Harlingen's 7.3% and McAllen-Edinburgh-Mission's 6.7%, according to the data. Texans impacted by the July floods in designated disaster areas are encouraged to apply for Disaster Unemployment Assistance online or by calling the TWC at 800-939-6631. The application deadline is Sept. 4. Solve the daily Crossword
