TransLink launches SkyTrain recruiting blitz as major expansions kick off

Add Metro Vancouver’s transit and transportation agency to the list of employers launching a recruiting campaign amid labor shortages across the province. TransLink says it is currently hiring in all areas, but is placing a particular emphasis on SkyTrain employees, pending completion of the Broadway subway and the extension of the Surrey-Langley Expo Line. Read … Read more

Inflation, interest rates: CPI rises to 6.8 percent in August

The rising cost of fruits and vegetables has helped inflation in Australia remain at its highest level in 30 years, new data shows. The Australian Bureau of Statistics’ new monthly inflation measure showed that the pace of price increases reached 7.0 percent in July and slowed slightly in August to 6.8 percent. Rising construction costs … Read more

US Federal Reserve Decision Could Cause a Recession: Motley Fool, Stephen Jones

Australians are being told they are “preparing” for further financial pain, including a potential recession, after the US Federal Reserve raised interest rates to the highest levels since the global financial crisis. The central bank raised the country’s cash interest rate by three-quarters of a percentage point to 3.25 percent, and said further rate hikes … Read more

Inflation and the scariest economic newspaper of 2022

The scariest economic paper of 2022 states that labor markets remain extremely tight, underlying inflation is high and potentially rising, and it could take several years of very high unemployment to bring inflation under control. The paper is a meticulous empirical exploration by Johns Hopkins macroeconomist Larry Ball with co-authors Daniel Leigh and Prachi Mishra … Read more

House prices, interest rates: New Zealand is a good indicator of Australia’s spot interest

When the Reserve Bank of New Zealand became the first central bank in the Anglosphere to raise interest rates last October, it effectively became a Kiwi in the coal mine for Australia and other countries in terms of the impact of the tightening monetary policy. To measure how the New Zealand economy is performing with … Read more

Australian wage growth could stall, rents rise as immigration rises

Last weekend, the Albanian government confirmed it will increase the permanent influx of migrants into Australia to its all-time high, following next month’s Jobs & Skills Summit. The October federal budget is expected to increase the influx of non-humanitarian permanent migrants to 200,000, from the current level of 160,000. The move follows incessant lobbying from … Read more

French Canadian mom turned to Reddit for advice on son’s name

Choosing a name for your child is a very difficult decision for many parents. While some parents-to-be may already have a huge list of names they like, for others it can seem very daunting to pick a name. And one mom has taken to Reddit to reveal that she not only struggled to pick a … Read more

Warren: Fed chief threatens ‘surprisingly strong economic recovery’

sen. Elizabeth Warren (D-Mass.) writes in a new op-ed that the efforts of Federal Reserve Chairman Jerome Powell to contain inflation are “causing a devastating recession” and the “surprisingly strong” post-pandemic jeopardize the country’s economic recovery. “Rising costs are an urgent issue and interest rates play a key role in maintaining price stability. But urgency … Read more

Interest rates: RBA analysis shows mortgages could rise by 60 percent

Last October, I explored the possibility that the Reserve Bank of Australia (RBA) could be forced to raise interest rates to fuel rising inflation. When I compared them to the old Looney Tunes character Wile E. Coyote, I speculated that the RBA might be forced to furiously chase inflation the same way Wile E. chased … Read more

Australian inflation is expected to hit a 30-year high this month as costs rise

The pain Australians are experiencing will hit hard before the end of the month, when inflation is expected to hit a 30-year high. The pain will continue next month for Australians hit hard by a cost of living crisis with no end in sight. Consumers and businesses are now well aware that bills will rise … Read more