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COVID ECONOMICS


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#2441 Matt R.

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Posted 29 March 2022 - 11:08 AM

^ You sure about that Matt. I read it as though they are switching from employment year to calendar year which would mean that someone could start in Nov and then take 5 days in Dec and 5 days in Jan. Am I missing something?


I am not sure. What did you read, did they actually release *details*? I assumed it was jan 2022 to Dec 2022. Sick days don’t kick in until after three months probation.

Edited by Matt R., 29 March 2022 - 11:10 AM.


#2442 spanky123

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Posted 29 March 2022 - 11:23 AM

I am not sure. What did you read, did they actually release *details*? I assumed it was jan 2022 to Dec 2022. Sick days don’t kick in until after three months probation.

 

Don't see anywhere where someone has to work 3 months to be eligible for sick leave.

 

For ease of implementation, the act is being amended to reference “calendar year,” which standardizes the annual entitlement period for all employees regardless of the start of their employment. The total number of paid sick leave days per year will not be affected. It remains at five.



#2443 spanky123

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Posted 29 March 2022 - 11:27 AM

Ok saw this which explains it in more detail. B.C. government tweaks paid-sick-leave law - Economy, Law & Politics | Business in Vancouver (biv.com)

 

There is a 3 month waiting period but I am right in that someone hired in August can get 5 days days in December and then another 5 in January. Previously they would have got 5 days in December and then had to have waited until August of the following year for another 5 days.

 

The Government's excuse for the change is that businesses couldn't figure out how to track sick days by hire date. BS, vacation and notice requirements are determined by hire date and businesses don't seem to have an issue figuring those out.


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#2444 Matt R.

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Posted 29 March 2022 - 11:29 AM

Yeah it’s not impossible, our payroll company tracked it anyways.
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#2445 Ismo07

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Posted 29 March 2022 - 11:32 AM

Ok saw this which explains it in more detail. B.C. government tweaks paid-sick-leave law - Economy, Law & Politics | Business in Vancouver (biv.com)

 

There is a 3 month waiting period but I am right in that someone hired in August can get 5 days days in December and then another 5 in January. Previously they would have got 5 days in December and then had to have waited until August of the following year for another 5 days.

 

The Government's excuse for the change is that businesses couldn't figure out how to track sick days by hire date. BS, vacation and notice requirements are determined by hire date and businesses don't seem to have an issue figuring those out.

 

Might make more sense to prorate the 5 days when you start during a particular year then move forward to the full 5 days the next year I guess...  I suppose people might take those 5 days early then go to another job....  It's a goofy thing.  I think the City (for example) would claw back sick time if used before earned...  Same could happen with these 5 days I guess...  


Edited by Ismo07, 29 March 2022 - 11:34 AM.


#2446 Victoria Watcher

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Posted 29 March 2022 - 01:19 PM

GRIDLOCK: Sooke transit ridership lower since the pandemic

Average weekly boardings are half as high compared to pre-pandemic numbers on some routes

https://www.vicnews....e-the-pandemic/

Edited by Victoria Watcher, 29 March 2022 - 01:20 PM.


#2447 Mike K.

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Posted 29 March 2022 - 02:18 PM

Holy, eh? Black Press sure has made a big deal out of traffic in Sooke lately.

 

 Can someone point me to the gridlock?

 

sooke-traffic.jpg


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#2448 Victoria Watcher

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Posted 30 March 2022 - 04:04 AM

The Southern Poverty Law Center (SPLC) Union claimed that there is a racial disparity in the legal nonprofit's return-to-work policy and organized an employee protest Monday.

"Black women, many of whom have been working at this organization for decades in positions with little or no opportunities for advancement are four times more likely to be denied telework and/or remote work than white women and are seven times more likely to be denied telework options than white men at the Center," the SPLC Union wrote in a news release about the protest held in Montgomery, Alabama, on Monday.

The union said the event aimed to "protest management's forcing mostly Black women employees to return to the office while allowing the option of remote work for white and higher-paid employees."

"Seven of us who are among the most marginalized employees at Southern Poverty Law Center have processed over $200 million in donations over the last two years while working from home and now we are being mandated to work in the office every day," Lisa D. Wright, SPLC Union Bargaining Committee member and steward, said in a statement. "We should be trusted to make the decision that are best for us, our work, and our families."


https://www.foxnews....acial-disparity

Edited by Victoria Watcher, 30 March 2022 - 04:04 AM.


#2449 Victoria Watcher

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Posted 03 April 2022 - 03:40 AM

This return to in-office work has been gradual. Recent estimates put the number of downtown in-office workers at about 28 per cent.

At least 65 per cent of pre-pandemic office employees are needed to keep ­coffee shops, restaurants and retail shops open.

Even with a 358-ship cruise-ship ­season beginning this week and predicted to bring 900,000 visitors to Victoria, ­without tens of thousands of daytime office ­workers shopping or ordering coffee or meals during their workday breaks, downtown can’t boom.

https://www.timescol...-normal-5226980

Edited by Victoria Watcher, 03 April 2022 - 03:41 AM.


#2450 Barrrister

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Posted 03 April 2022 - 06:28 AM

Does anyone care if downtown booms? Who does much shopping downtown anymore anyway? Honestly if 80% of the coffee shops and retailers closed tomorrow I would not notice if I did not happen to read about it. 



#2451 Mike K.

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Posted 03 April 2022 - 07:59 AM

Who came up with the 65% figure? Wouldn’t it be 100% of workers and the spin-off that generates if the whole system is designed around specific levels of potential business commensurate with lease rates and property taxes?

If it’s just 1/3 now can businesses just pay 1/3 of their lease rates and taxes, and say that’s fair, until we reach 2/3s, then we’ll pay 2/3s of what we were paying in 2019?

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#2452 Victoria Watcher

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Posted 03 April 2022 - 08:09 AM

I presume that 65% figure is just completely made up.



#2453 Mike K.

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Posted 03 April 2022 - 08:15 AM

It makes absolutely no sense. What it feels like is that’s a threshold we might reach by next fall, so it’ll be used as a marker for success and much celebration.

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#2454 Victoria Watcher

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Posted 03 April 2022 - 08:50 AM

As Finance Minister Chrystia Freeland puts the finishing touches on her 2022-23 budget to be unveiled Thursday, she should focus on a report predicting Canada’s economic growth is poised to be dead last among advanced countries for four decades.

 

https://upjobsnews.c...more-news-here/



#2455 Mike K.

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Posted 03 April 2022 - 11:30 AM

Mission accomplished.
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#2456 spanky123

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Posted 06 April 2022 - 09:51 AM

All big banks now expecting a 50 bps rate hike next week with Scotiabank predicting 2.5% by year end.

 

Big Canadian Banks Unanimously Expect a 50-Point Interest Rate Hike Next Week - Bloomberg

 

As 5 year money moves north of 5% and stress testing at 6.5% to 7% we should start to see moderation in demand of housing and prices levelling out and/or declining in some markets. 


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#2457 Matt R.

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Posted 06 April 2022 - 10:44 AM

Would be nice to see some affordability in the housing market and also the grocery market, the fuel market, the insurance market, the tax market…but I don’t see much change locally.

#2458 Nparker

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Posted 06 April 2022 - 11:27 AM

There's certainly no downward movement in the tax market from the federal Liberals or the provincial NDP.  :mad:


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#2459 LJ

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Posted 06 April 2022 - 07:23 PM

^ & ^^

 

Making life more affordable for middle class Canadians.


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Life's a journey......so roll down the window and enjoy the breeze.

#2460 Mike K.

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Posted 07 April 2022 - 05:32 AM

Banks aren’t even waiting for these hikes, they’re rapidly raising rates.

What this means, is properties in the average range of the market are going to see the first pull backs, as buying power falls and starts looking to lower priced offerings. I would expect the 1.0-1.2 million market to heat up quickly over the next 30 days.

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