This roundup from The Canadian Press provides an overview of significant stories affecting Canada as of February 7, 2025.
January Jobs Report from Statistics Canada
This morning, Statistics Canada is set to release its January jobs report, with economists surveyed by Reuters anticipating that Canadian employers added approximately 25,000 jobs during the month. Predictions indicate that this may result in an increase in the unemployment rate to 6.8 percent, following a reduction to 6.7 percent after a robust addition of 91,000 jobs in December. RBC Economics highlights prevailing concerns about subdued business sentiment, attributed to a slowdown in consumer demand.
Canada-U.S. Summit in Toronto
Today, the federal government is hosting a crucial summit in Toronto aimed at enhancing the economy amidst shifting dynamics with Canada’s largest trading partner, the United States. U.S. President Donald Trump had initially proposed significant tariffs this week; however, those plans have been postponed until March 4. The uncertainty stemming from his administration has led many business and labor leaders to advocate for Canada to explore alternative trading partners and to fortify internal trade measures.
Deadline for Federal Liberal Leadership Candidates
In another critical development, federal Liberal leadership candidates face a payment deadline today, requiring them to submit $125,000 to the party to continue their candidacy. This is part of a total entrance fee of $350,000, which candidates must pay in installments. To date, candidates have made two preliminary payments of $50,000 each: the first to initiate their campaigns and the second to gain access to the party's membership list. Candidates who meet today's deadline will still need to pay an additional $125,000 by February 17.
Preparation for Alberta G7 Summit
Security experts are gearing up for the upcoming G7 summit in Alberta, which will take place west of Calgary from June 15 to 17, marking the first gathering of world leaders since 2002. This summit will involve leaders from the United States, France, Germany, Japan, the United Kingdom, Italy, Canada, and representatives of the European Union. Experts predict that security measures will be stricter than in past summits, and between June 10 and 18, access to summit venues in Kananaskis will be limited to authorized personnel, while several trails and local businesses may be closed to the public.
Ontario Political Campaigns Focusing North
Most of the leaders of Ontario's major political parties are fanning out across northern Ontario today as they seek to attract voters. Progressive Conservative Leader Doug Ford is returning to Toronto, while NDP Leader Marit Stiles plans to make an announcement in Sault Ste. Marie and attend a local winter festival. Additionally, Liberal Leader Bonnie Crombie is campaigning in Thunder Bay, while Green Party Leader Mike Schreiner is in Parry Sound. Ford will also announce initiatives in the eastern part of Toronto and meet with workers’ unions across the city.
Addressing Interprovincial Trade Barriers
In light of the looming threat of a potential trade war, Canadian politicians and business leaders are actively seeking solutions to bolster the economy and minimize potential disruptions. One significant focus is the removal of interprovincial trade barriers, which complicate the movement of goods and services across Canada due to varying regulations between provinces and territories. According to a 2024 report from the Canadian Federation of Independent Business, unclogging these trade barriers could potentially enhance Canada’s economy by up to $200 billion annually.
