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Statistics Canada Begins Major Workforce Overhaul, Cutting 850 Positions

    Statistics Canada says it will be cutting around 850 of its staff along with 12 per cent of its executive team. Statistics Canada is moving ahead with a major restructuring that will see roughly 850 jobs eliminated , including a portion of its executive ranks. The agency confirmed that it has entered a formal workforce adjustment period, with affected employees set to receive notices over the next two weeks. The cuts are part of a broader federal initiative to reduce public service spending. With more than 7,200 employees as of early 2025, Statistics Canada is among several departments facing significant downsizing as the government seeks long‑term budget efficiencies. Union representatives have raised concerns about the impact on the agency’s ability to maintain the quality and timeliness of national data. Management, however, has emphasized that voluntary departures and early retirement incentives will be used where possible to ease the transition. The announcement m...
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Bank of Canada Considered Waiting Until July to Cut Rates

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Bank of Canada officials recently discussed whether to delay interest rate cuts until July. Their primary concern was confirming that inflation remains on track to reach the central bank’s 2% target. Ultimately, the governing council decided to cut the policy rate to 4.75% at their June 5 meeting. This move followed four consecutive months of slowing underlying price pressures, which they deemed sufficient progress to warrant the rate reduction.

While policymakers acknowledged the possibility of further rate cuts if inflation continues to ease, they emphasized a gradual approach. The bank’s dependence on data was evident, as they considered waiting until July before making a decision. Additionally, they discussed the potential divergence of Canada’s interest rate path from that of the US, noting that expectations of different policy outlooks could impact the exchange rate.

In summary, the Bank of Canada’s decision reflects a delicate balance between economic indicators and the need for cautious monetary policy adjustments. As they continue to monitor inflation and economic growth, future rate cuts will depend on further disinflation momentum and evolving market conditions.

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