Bank of Canada Governor Stephen Poloz, battling to bring inflation up to his target, isn’t getting much help from wages.
Average hourly earnings of permanent employees, the central bank’s preferred measure, have gained an average 2.1% over the last year, slower than the 2.9% average seen over the past decade. At the same time, Canada’s labor participation rate has fallen to the lowest since 2001, indicating a pool of employees who can rejoin the workforce if demand increases, keeping a lid on pay increases.
RIGA/LISBON — Long after the debt crisis is over, Europe will be grappling with an even more serious problem — how to pay for growing numbers of old people.
The population of some countries is stagnant or already shrinking, notably Germany’s. That will reduce savings and potential economic growth.
The workers who remain are getting older and so are less productive. That will hold back living standards.
And the ranks of retirees are swelling. That will threatening the financing of pensions and health care.
CAMBRIDGE – There is no magic Keynesian bullet for the eurozone’s woes. But the spectacularly muddle-headed argument nowadays that too much austerity is killing Europe is not surprising. Commentators are consumed by politics, flailing away at any available target, while the “anti-austerity” masses apparently believe that there are easy cyclical solutions to tough structural problems.
Precious metal prices are rising and stocks declining as investors fret that governments in Europe and the U.S. will be unable to contain their debt crises.Political bickering over the debt crises in Europe and the U.S.
Demand for the world's priciest houses is likely to cool this year after two years of strong growth, as concerns over Europe's debt crisis, the health of the global economy and governments price cooling ...
LONDON (Reuters) - Demand for the world's priciest houses is likely to cool this year after two years of strong growth, as concerns over Europe's debt crisis, the health of the global economy and governments price cooling measures in Asia dissuade buyers, research showed.
Europe's new bailout plan for its weakest economies finally recognizes the brutal reality of the developed world's financial woes: Many governments simply can't pay what they owe — or will reach that point soon.