View the Archive..August 28, 2014EMPLOYMENT, EARNINGS AND HOURS, JUNE 2014
Nova Scotians' average weekly earnings (including overtime, seasonally adjusted) decreased 0.2 percent from May to $822.01 in June 2014, and was 2.9 per cent above the level in June 2013. Canadians' average weekly wages increased 0.6 per cent from May to $940.48 in June 2014, a 3.3 percent increase over June 2013.
This month, all provinces with the exception of Nova Scotia saw increases in average weekly earnings on a monthly basis. On a year-over-year basis, all provinces average wages increased with Newfoundland and Labrador growing the most, at 6.1 percent year over year.
Year-to-date, Nova Scotians' average weekly earnings increased 3.6 percent, to $819.33. Canadians' average weekly earnings rose 2.8 percent year to date (January to June 2014 vs January to June 2013) to $930.39
In June, earnings in goods producing industries in Nova Scotia increased 0.2 percent on a month to month basis, and increased 1.5 percent year-over-year. Service producing industries wages decreased 0.2 percent month to month, and increased 3.5 percent compared to June 2013 (all figures are seasonally adjusted).
On a year to date basis, the Industrial Aggregate (excluding unclassified businesses) average weekly earnings for Nova Scotia rose by 3.6 percent to $819.33. Goods industries wages were up 3.5 percent ($975.60) on a year to date basis, and services industry wages were up 3.7 percent year to date ($793.68).
In June Nova Scotia had 402,138 employees, an increase of 0.1 percent compared to last month, and 0.4 percent higher than a year ago. Canada had 15.6 million employees, 0.2 percent higher compared to last month and 1.5 percent higher than a year ago. On a year to date basis, Nova Scotia had 0.5% fewer employees to June and Canada had 1.0% more employees compared to the first six months of last year.
Source: Statistics Canada, Survey of Employment, Payroll, and Hours. CANSIM Tables 281-0049
August 28, 2014BALANCE OF INTERNATIONAL PAYMENTS 2ND QUARTER 2014
In Canada 2nd Quarter 2014, the seasonally adjusted current account deficit decreased $158 million over the 1st quarter 2014 to $11.9 billion.
In the 2nd quarter 2014, exports (receipts) of goods and services increased $4.4 billion to $155.0 billion, while imports (payments) of goods and services increased $4.6 billion to $159.7 billion. The resulting international goods and services trade deficit increased $194 million to $4.7 billion.
August 28, 2014US GDP Q2 2014 (SECOND ESTIMATE)
According to the second estimate, US GDP (seasonally adjusted annual rate) increased by 4.2 per cent in the second quarter of 2014. This is an upward revision from the advanced estimate of 4.0 per cent increase. Contributing to the increase in GDP for the quarter were: personal consumption expenditures (PCE), private inventory investment, exports, nonresidential fixed investment, state and local government spending, and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased.
August 27, 2014COMMUNITY PROFILE FOR AUGUST: PICTOU
The unpleasant odor from Northern Pulp Mill located in Abercrombie Point across the Pictou harbour has become much worse over this spring and summer. Some citizens of Pictou Community are complaining about the smell and the smog, which is affecting their health and their businesses (Locals fume over Pictou, Nova Scotia pulp mill emissions
, The Globe and Mail). The following Community Profile provides a glimpse at how the Pictou Community looked in 2011.
August 26, 2014QUARTERLY FINANCIAL STATISTICS FOR ENTERPRISES 2ND QUARTER 2014
Seasonally-adjusted operating profits for Canadian corporations increased 2.6 per cent in the 2nd quarter to $87.8.billion, this follows a 3.8 per cent percent increase in the first quarter of 2014. First quarter profit was revised down to $85.6 billion from the initial estimate of $88.6 billion (growth of 7.4%) due to lower operating profits for insurance carriers. Profits rose in 13 out of 22 industries with increases for both financial and non-financial firms. Compared to a year earlier, operating profits are 6.8 per cent higher.