The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

www.insideHALTON.com · OAKVILLE BEAVER Friday, February 1, 2013 · 4 Canadian labour market has been `quite a ride` Continued from page 1 Much to the displeasure of some, Wright said, the Canadian dollar is expected to stay strong throughout this year and even into next year. On the bright side, many Canadian exports to the U.S. have recovered since the financial crisis with gains seen in equipment software exports and auto sales. The Canadian labour market is also showing signs of improvement. "The labour market in Canada, unlike what we've seen anywhere else, has been quite a ride. In November and December we saw almost 100,000 jobs gained in just those two months," said Wright. "When you look at the gains through the year it was just over 312,000 jobs on a yearover-year basis. Ninety-eight per cent of those jobs were full time so it has been a very strong labour market and in that environment we've seen the unemployment rate continue to get lower. So what we're hearing and seeing about labour market weakness and unemployment rates rising everywhere else around the globe -- that is not the case in Canada." While unemployment levels are also falling in Ontario, Wright said, they are not falling as quickly as in other provinces. He also noted in the near future, Ontario would begin moving from a situation where RIZIERO VERTOLLI / OAKVILLE BEAVER / @halton_photog ECONOMIC OUTLOOK: RBC Chief Economist Craig Wright, seen here with Oakville Chamber of Commerce Chair Julia Hanna, was one of two featured speakers at a Chamber presentation Jan. 23. The chief economist, along with Ipsos Reid Senior Vice-President Ray Kong, provided a 2013 economic outlook and discussed things to keep in mind when going to market. there is an excess supply of labour available to a period of excess demand for labour. During that period, Wright said, the firms that succeed will be the ones who know how to retain their employees. He went on to say the debt-to-income ratio in Canada is rising and noted while this doesn't cause a crisis, it does leave people vulnerable to something like a significant rise in interest rates, a significant change in the labour market or a significant change in the housing market. The housing market in Canada, he said, is cooling off, but not collapsing. He also noted inflation is not a worry now, but may be down the road. "What we see is the Canadian economy in pretty much a normal situation in terms of growth, unemployment and the like. Usually when you have a normal economy you also have interest rates around a normal level," said Wright. "There is a debate about what normal is for interest rates, but there is no debate that normal is much higher than the one per cent we are sitting at now, so going forward, the Bank of Canada will want to restart a policy towards normalizing rates and normalizing rates means eventually moving them higher." Those present also heard from Ipsos Reid Senior Vice-President Ray Kong, who talked about how things like social media are affecting the business world. With creative innovations, such as designing a drumming lessons website, earning their young inventors millions, Kong said a good idea for business owners might be to talk to their kids about their business and ask how they would run it. 15TH ANNUAL WINTER SALE Unwind This Valentine's Winter Sale Murron's Cabinetree BARNBOARD . CAMLEN . SILKROUTE Just when you were starting to feel comfortable... Something better came along! And it's on sale, save 20% and more on all in house furniture. Order any piece not in-stock and save the taxes... MASSAGE THERAPY Treat your loved one or try our Couples massage of Oakville Call us today to book your appointment! Eleanor Hayward RMT Jonas Brancalion RMT Abby Alovera RMT We'll even store it for you! #22-2172 Wyecroft Rd., Oakville, ON L6L 6R1 905-825-9996 | www.onwc.ca Oakville Naturopathic Wellness Centre · Empowering One Person at a Time! LAST CHANCE! SALE ENDS FEBRUARY 16TH www.murrons.com 215 Lakeshore Road. E. Oakville 905.338.5181