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The Victoria Economy Thread


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#1001 Victoria Watcher

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Posted 24 February 2023 - 02:50 PM

Define “gouging”.

#1002 Mike K.

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Posted 24 February 2023 - 02:53 PM

Interesting. I was at shoppers, where this one bag/brand of coffee was 21.99. In SuperStore, so same supplier, it was $10.99.

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#1003 Victoria Watcher

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Posted 24 May 2023 - 06:34 PM

Root of the labour crisis: We lied to millennials and Gen Z when we said they could be anything

 

The current labour crunch boils down to this: Toward the end of the 20th century, we started telling our children they could be anything they wanted.
 
 
 
But something happened toward the end of the 20th century: We started telling our millennial and Generation Z children that they could be anything they wanted. We told them to follow their passions. We promised them that if they dreamed hard enough, they could do anything in the world.
 

It was a lie. And our ongoing labour crunch can be directly traced back to that lie.

 

To be fair, we may have meant that our kids could be doctors, lawyers or accountants – attainable and laudable goals for many people. And I’m not saying young people are lazy – at least not the ones I know. Plenty of young people are working hard in entry-level, low-paying jobs.

 

But the issue is that when we told them they could be anything, some of them heard “NHL hockey star,” “superstar video gamer” or “the next Beyoncé.” And clearly they cannot. Or at least 99.9999 per cent of them cannot.

 

We meant to inspire our young people, promising them that if they tried hard enough and worked hard enough, they could be anything! But rather than inspire them, we created a false notion that superstardom and unimaginable paycheques were attainable.

 

 

https://www.timescol...nything-7047201


Edited by Victoria Watcher, 24 May 2023 - 06:35 PM.

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#1004 Matt R.

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Posted 24 May 2023 - 08:47 PM

I’d like a word with whoever coined the phrase “work life balance” as well please..

#1005 todd

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Posted 26 May 2023 - 07:40 AM

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#1006 Victoria Watcher

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Posted 30 June 2023 - 10:31 PM

Two thirds of Canadian employees are quiet quitting, study finds

 

https://www.timescol...y-finds-7221186

 
 
A new global report paints a grim picture of the workplace: a majority of the world’s workers are quiet quitting and daily stress levels are rising.
 
The report by analytics and consulting firm Gallup found that in 2022, when workers around the world were asked if they were engaged in their work, quiet quitting or loud quitting, 59 per cent chose quiet quitting. Gallup defines the trend as when employees “put in the minimum effort required” and are “psychologically disconnected from their employer.” Eighteen per cent were loud quitting — taking “actions that directly harm the organization, undercutting its goals and opposing its leader” and 23 per cent said they were engaged in their work.
 
Canadian numbers are worse. Two thirds of workers were quiet quitting and 13 per cent were loud quitting.
 
Jim Harter, chief scientist in Gallup’s workplace management and wellbeing practices, says these numbers are concerning but not surprising. Quiet quitting is a new term but not a new phenomenon, he says.
 
Gallup’s been studying workers’ engagement since 2009, when the number of engaged workers globally was 12 per cent - 11 per cent lower than it is now. 2022 was a record for engagement, but much of this can be attributed to a 7-per-cent-gain in South Asia, according to the report.


#1007 Victoria Watcher

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Posted 30 June 2023 - 10:33 PM

CRA fires 20 employees, investigating hundreds more for claiming CERB while working for tax agency

 

 

Late Friday evening, a spokesperson confirmed the organization was investigating 600 of its workers it suspects 'inappropriately' received the $2,000-per-month CERB

 

https://nationalpost...d-at-tax-agency

 

 

 

In a statement late Friday evening, agency spokesperson Sylvie Branch confirmed the organization was investigating 600 of its workers it suspects “inappropriately” received the $2,000-per-month CERB “while employed with the CRA.”

 

She also confirmed that the agency had fired 20 of them to date, but that more are surely to come as the investigations progress.

 

The latest data mean that the CRA suspects up to one per cent of its 60,000 employees may have collected CERB while ineligible, a number the agency calls “very limited.”

 

___________________________________

 

As of Jan. 19, the agency had warned nearly one million Canadians that they were clawing back some or all of their COVID-19 benefits, for a total of $4.2 billion as of that date, with more to come as the CRA and Employment and Social Development Canada (ESDC) conducted more post-payment verifications.

 

Auditor General Karen Hogan also warned in a report in December that both departments needed to look into up to $27 billion in payments she flagged as suspicious across a dozen pandemic benefits, most notably the Canada Emergency Wage Subsidy (CEWS).


Edited by Victoria Watcher, 30 June 2023 - 10:35 PM.


#1008 Mike K.

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Posted 17 July 2023 - 06:34 PM

Wendy B. is a member of the DRA and a big booster of downtown, so to see her pointing this out does carry considerable weight.

We need more than words of sympathy to solve the flight out of the core.

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#1009 Nparker

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Posted 17 July 2023 - 06:37 PM

Soviet gulags had more charm than this block of Broad Street.


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#1010 Victoria Watcher

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Posted 25 September 2023 - 08:30 AM

Businesses fear they'll have to borrow more to repay government-backed pandemic loans

https://www.cbc.ca/n...dline-1.6975663


He said he used to purchase rubber gloves for his employees for about $10 for a pack of 100 pairs. He said he pays about $40 for 25 pairs now.





That’s some kind of inflation! They used to be 10 cents per pair. Now they are $1.60 a pair.

Edited by Victoria Watcher, 25 September 2023 - 08:34 AM.


#1011 spanky123

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Posted 25 September 2023 - 08:43 AM

^ I completely understand that the repayment of CEBA loans will be a hardship for many businesses but calling the Government "loan sharks" is pretty extreme.

 

Everyone who took the loans knew they had to be paid back and the Government has already extended the deadline twice. 

 

Clearly what many businesses were gambling is that the loans would be forgiven. 


Edited by spanky123, 25 September 2023 - 08:44 AM.

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#1012 Ismo07

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Posted 25 September 2023 - 09:04 AM

^ I completely understand that the repayment of CEBA loans will be a hardship for many businesses but calling the Government "loan sharks" is pretty extreme.

 

Everyone who took the loans knew they had to be paid back and the Government has already extended the deadline twice. 

 

Clearly what many businesses were gambling is that the loans would be forgiven. 

 

I think many businesses have paid already, many more are ready and able to pay but some may even take this low interest loan...  Probably cannot get lower.  Free money from a loan shark?



#1013 spanky123

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Posted 25 September 2023 - 09:10 AM

I think many businesses have paid already, many more are ready and able to pay but some may even take this low interest loan...  Probably cannot get lower.  Free money from a loan shark?

 

20% of businesses have repaid but I suspect that those were the ones that never needed the money but took it for the free $20K. I know lots of people who fit into that category.

 

If you listen to the small business, restaurant and tourism lobbies you get a different story. Up to 80% of their members are not in a financial position to repay the loans (even the $40K amount).



#1014 Victoria Watcher

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Posted 25 September 2023 - 11:07 AM

What about that glove price? 

 

800% inflation.


Edited by Victoria Watcher, 25 September 2023 - 11:08 AM.


#1015 Ismo07

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Posted 25 September 2023 - 11:31 AM

20% of businesses have repaid but I suspect that those were the ones that never needed the money but took it for the free $20K. I know lots of people who fit into that category.

 

If you listen to the small business, restaurant and tourism lobbies you get a different story. Up to 80% of their members are not in a financial position to repay the loans (even the $40K amount).

 

Ah I have...  The 21% repaid was as of May according to one article, another says 18% as of this month..  Weird....  Businesses that can do it have no reason to pay it early that's for sure.  It's gotta be more now and more by the time February rolls around.  Like I said though many might take the low interest loan even if they can pay it back.

 

What is the alternative?  Let them off?  And the ones who paid?  Give it back? There have been a number of businesses who have opened since these payments.  Do they get $60k too?


Edited by Ismo07, 25 September 2023 - 11:39 AM.


#1016 dasmo

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Posted 25 September 2023 - 11:37 AM

I think they should just print three trillion and give us all $100k to spend however we like. They are throwing billions around anyway. 


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#1017 Nparker

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Posted 25 September 2023 - 11:46 AM

I'd be OK just to get the money the health care system is saving on me since I almost never access it.



#1018 Matt R.

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Posted 25 September 2023 - 11:50 AM

Businesses fear they'll have to borrow more to repay government-backed pandemic loans

https://www.cbc.ca/n...dline-1.6975663


He said he used to purchase rubber gloves for his employees for about $10 for a pack of 100 pairs. He said he pays about $40 for 25 pairs now.



That’s some kind of inflation! They used to be 10 cents per pair. Now they are $1.60 a pair.


Disposable nitrile gloves went from a nickel to a quarter, each. Not per pair, each glove. They’ve settled down to about 15 cents per, which is still just wild.

Edited by Matt R., 25 September 2023 - 11:51 AM.

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#1019 dasmo

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Posted 27 September 2023 - 06:46 PM

Nanaimo bans natural gas. Small biz fights back.
https://hpbacanada.org/nanaimo/

#1020 Matt R.

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Posted 18 October 2023 - 12:07 PM

New job posting requirements coming into place on November 1.

www dot dailyhive dot com/vancouver/bc-employers-wages-postings

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