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With Canadian negotiators back home and 50 per cent U.S. tariffs now in effect, the Canadian business community is taking stock of just how painful these new levies will be.Individual business leaders who export everything from plywood to wine and are now facing the tariffs have said the high rates will effectively cut off any business with the United States.But just how big is the blow to the broader economy? Which sectors will feel it the most, and what could it mean for Canadian jobs? Here's what you need to know.GDP could lose half a percentage point: BMOThe new 50 per cent tariffs in place cover a range of products — about $28 billion worth of Canadian exports to the U.S.That's only about five per cent of Canada's total exports south of the border, which in the grand scheme of things is pretty limited, said BMO senior economist Robert Kavcic.BMO estimates the 50 per cent duties could shave half a...

Job prospects during the pandemic were grim. After all, companies shuttered their windows, business went online, and recessionary forces put most hiring on ice. Of course, most job hunters at the time felt as though the job market was frozen solid. But now, job hunters across the country actually feel worse than they did during the peak of the pandemic. Newly released data from the Federal Reserve Bank of New York finds that Americans are less optimistic about finding work than they were in 2020, when the government was literally paying people to stay home from work. Since late 2025, the average American worker said they have a roughly 45% chance of securing a new role within three months if they were to quit their job today, according to the Fed’s job finding expectations, a portion of the Consumer Expectations Survey. That’s lower than the 46.2% chance reported in December 2020, marking an especially dire outlook for workers. Successive warnings of AI’s encroachment...

For much of the past 18 months, the labor market has remained largely frozen. Rampant uncertainty, a lasting hangover from pandemic-era overhiring, the rise of AI, and a cocktail of other economic concerns – persistently high inflation, elevated interest rates and a shrinking labor force – stifled businesses’ expansion plans and put hiring on ice. But for the past few months, it’s been looking like a thaw is underway. US employment growth has surpassed expectations, adding an average of 188,000 jobs per month since March. ...

July 2 (Reuters) - Canada's main stock index edged higher on Thursday, lifted by ​the materials sector as gold prices jumped after a disappointing U.S. ‌jobs report tempered expectations for interest rate hikes.The Toronto Stock Exchange's S&P/TSX Composite Index (.GSPTSE), rose 0.2% to 34,918.59 points by 10:25 a.m. ET, following a market holiday on Wednesday.U.S. job growth slowed ​more than expected in June and payroll gains for the prior ​two months were revised lower, pointing to a cooling labor market ⁠and prompting financial markets to scale back expectations for a near-term interest rate hike from ​the Federal Reserve.Traders priced in a much slimmer chance of a rate hike ​from the Fed this month, but continued to see monetary policy tightening in September as likely."It is showing some signs of weakness in the U.S. labor market, but nothing ​too alarming right now," said Michael Dehal, senior portfolio manager at Dehal ​Investment Partners at Raymond James."I think the focus is still on...

Representational image (AP)An Indian-American advocacy group has voiced concern over the proposed USD 103,265 additional fees for H1-B work visas, saying the move would push US jobs overseas.The Foundation for India and Indian Diaspora Studies (FIIDS) said an extraordinary fee could make legitimate hiring economically impractical and unintentionally encourage companies to place high-value jobs overseas.The FIIDS statement came a day after the Department of Homeland Security proposed an additional USD 103,265 fee for all H1-B visa cap-subject applications, including those eligible for the advanced degree exemption.“We recognise that DHS and USCIS need adequate resources to protect national security, prevent fraud and administer legal immigration. But a USD 103,265 H-1B fee could choke cash-strapped startups, while companies hiring thousands of H-1B workers could face hundreds of millions of dollars -- and potentially close to a billion dollars -- in additional costs,” Khanderao Kand, Chief of Policy and Strategy, FIIDS said in a statement shared on X.Kand said combined with a potential...

Years of schooling in healthcare usually pay off.The Bureau of Labor Statistics released new data showing the pay of hundreds of occupations as of May 2025. Many positions earn six figures, exceeding the national average of $69,770.Pay can be one factor job seekers consider when they're applying for work. A lot of people are actively seeking jobs in the US: 7.2 million people were unemployed in March, outpacing the number of openings. It's also graduation season, so more people may be tweaking their résumés, building a network, and scouring postings in the coming months.Studying to become an ophthalmologist, a pediatric surgeon, or a pilot can lead to high compensation.Business Insider ranked the new occupation estimates by average annual wage, excluding catchall job categories, such as "Surgeons, all other." Almost all of the 13 top-paying jobs typically require a doctoral or professional degree. Airline pilots, copilots, and flight engineers usually need a bachelor's.Below are the 13 highest-paying jobs, alongside estimates of...

“The March jobs report blew out expectations with strong construction job growth and a surge in manufacturing job creation as trillions of dollars in investments begin to materialize. America remains on a solid economic trajectory thanks to President Trump’s proven agenda of tax cuts, deregulation, tariffs, and energy dominance. Americans can rest assured that after the short-term disruptions of Operation Epic Fury are behind us, America’s economic resurgence is set to only accelerate.”— White House Spokesman Kush Desai Here’s what you need to know about the March jobs report: It crushed expectations — again. The economy added 178,000 new jobs in March — nearly triple the number economists had forecasted — delivering yet another powerful validation of President Trump’s pro-growth agenda and demonstrating the resilience of the American labor market under his leadership. Manufacturing is roaring back under President Trump. The sector added 15,000 new jobs added in March, capping off the first quarter of 2026 with the first positive manufacturing job growth...

WASHINGTON (AP) — The American job market continues to show surprising strength — good news for President Donald Trump who has taken a beating in the polls over the surging gasoline prices that followed U.S. and Israeli attacks on Iran.Employers added 172,000 jobs in May – roughly double what forecasters had expected – and the unemployment rate remained at a low 4.3%, the Labor Department reported Friday. Job growth was down slightly last month from a revised 179,000 in April. Hiring has bounced back this year from a miserable 2025, showing resilience in the face of economic uncertainty and painfully high energy prices since the Iran war started in late February.The job gains are broad-based. Local governments added 55,000 workers, restaurants and bars 48,000, healthcare companies 35,000. In...

ToplineJanuary was the worst start to a year for job cuts in the United States since 2009, with high-profile layoffs at UPS and Amazon fueling a tumultuous beginning to 2026 on the labor market, according to a private firm’s report, as official government reports remain delayed.There were 108,000 job cuts in January, the most in a January since 2009. Copyright 2021 The Associated Press. All rights reserved.Key FactsThe 108,435 job cuts last month represented a 118% jump from the same period last year and the most in any January since 2009, when the U.S. was reeling from the Great Recession triggered by a housing market crisis, consulting firm Challenger, Gray & Christmas said in its latest monthly report.The decline comes after previous signs of a stabilizing labor market in December, when 35,553 layoffs marked the lowest total since July 2024. It suggests most of the January layoffs were set in motion in 2025, “signaling employers are less-than-optimistic about the outlook...

Don’t Confuse Financially Driven Layoffs With AI Layoffs There’s a common impression — among leaders, in the media, and among employees — that AI is already causing widespread unemployment. After all, the US saw well over a million jobs lost to layoffs in 2025. Salesforce CEO Marc Benioff attributed some of his company’s layoffs to internal use of its own AI solutions. And if you walked down the streets of San Francisco, you probably saw Artisan’s controversial urban advertisements broadcasting the message “Stop Hiring Humans.” But here’s the dirty little secret of AI and layoffs. Every week, we speak to clients telling some version of the following story: “Our CEO said we’re laying off 20% of staff and replacing them with AI — how do we do that?” When we ask if they have a mature, vetted AI app ready to fill in those jobs, nine out of 10 times, the answer is no — and they haven’t even started. So most...