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Canada’s Economy Has Now Stalled Twice. Is Your Emergency Fund Ready?

  Canada’s Economy Has Now Stalled Twice. Is Your Emergency Fund Ready? Canada's economy is losing momentum, and it is a good time to ask yourself an important question: If your income disappeared tomorrow, how long could you cover your bills without borrowing money? Statistics Canada's latest GDP report, released October 30, showed that Canada's economy recorded virtually no growth in August for the second consecutive month. An early estimate suggests economic activity contracted by 0.1% in September. Preliminary figures indicate that the economy grew by just 0.3% during the third quarter, although the official numbers have yet to be released. The slowdown follows a period of economic uncertainty, elevated household expenses and pressure on borrowers. While these figures do not confirm that Canada is entering a recession, they highlight why households should prepare for unexpected financial setbacks. The good news? You do not need a large income to start building a financi...
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Canada Post Strike Threatens to Derail Critical Holiday Season for Retailers

 

As the holiday season approaches, a strike by over 55,000 Canada Post workers threatens to disrupt deliveries across the country. The Canadian Union of Postal Workers (CUPW) initiated the strike after failed negotiations with the Crown corporation over wages, working conditions, and other issues.

The timing couldn't be worse for retailers, who rely heavily on timely deliveries during this peak shopping period. With mail and parcels not being processed or delivered, businesses are scrambling to find alternative shipping solutions. Rural and remote communities, which depend solely on Canada Post, are expected to be hit the hardest.

While the strike has caused significant concern, Canada Post has assured that government benefit cheques, such as Old Age Security and the Canada Child Benefit, will still be delivered during the strike. However, the overall impact on retailers and consumers remains uncertain, and the situation is being closely monitored as the holiday season kicks into full gear.

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