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Canada’s Jobless Rate Rises to 6.8% Despite December Hiring

          A employee sorts batteries on a conveyor belt at a recycling facility in Port Colborne, Ontario. Canada’s unemployment rate climbed to 6.8% in December , even though the economy added 8,200 jobs during the month. The increase in unemployment wasn’t driven by widespread layoffs but by a surge in the number of people entering the labour force and actively looking for work. December Highlights Unemployment rate: Up from 6.5% to 6.8% Employment: Net gain of 8,200 jobs Labour force: Expanded significantly, outpacing job creation Full-time work: Increased Part-time work: Declined Why the Rate Rose Economists point out that the rise in unemployment reflects renewed labour market participation , not a weakening economy. More Canadians felt confident enough to start job hunting, but hiring didn’t keep pace with the influx of job seekers. This marks the fourth straight month of employment growth , yet December also saw the largest increas...
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Hudson’s Bay Faces Uncertain Future Amid Court Proceedings and Negotiations

 

Hudson’s Bay, Canada’s oldest department store chain, is navigating turbulent waters as it returns to court amidst ongoing financial struggles. The company, which recently filed for creditor protection, is seeking approval to liquidate its stores while simultaneously engaging in discussions with landlords, lenders, and other stakeholders to explore alternative solutions.

The retailer, which operates 80 Hudson’s Bay stores, three Saks Fifth Avenue locations, and 13 Saks Off 5th outlets in Canada, has been granted additional time by the Ontario Superior Court to continue negotiations. These talks aim to address contested issues, including unpaid rent and restructuring plans, in hopes of avoiding a full liquidation. However, with over 9,300 jobs at stake and mounting debts, the company faces significant challenges.

While Hudson’s Bay has secured interim financing, it remains insufficient to sustain operations long-term. The court has urged all parties to engage in good-faith discussions to find a resolution that minimizes conflict and maximizes recovery. The outcome of these negotiations will determine whether the iconic retailer can restructure and preserve parts of its business or proceed with liquidation.

The next court hearing is expected to provide clarity on the company’s future, as stakeholders await a decision that could reshape the Canadian retail landscape.

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