Here is my look at labour concerns related to the Canadian economy Wages have grown at a pace of 3.2% Inflation continues to be stubbornly high at 7% Immigration backlog continues to plague the government More needs to be done with programs like EI to help bridge the skills gap Canada needs to focus on policies that will support innovation spending, closing the skill gap, improving productivity, and addressing issues with supply chain All levels of government need to reel in their spending including more performance and value for money audits All levels of government and the private sector need to look a sustainable housing options

1. Payroll Costs
and Labor
Analysis –
Canada –
September
2022

2. Paul Young - Bio
• CPA, CGA
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Macro/Micro Indicators
• SME – Supply Chain Management
• SME – Data, AI, Security, and Platform
• SME – Internal Controls and Auditing
Contact information: Paul_Young_CGA@hotmail.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
SlideShare - https://www.slideshare.net/paulyoungcga

3. Agenda

4. EI Deduction
• EI rate was dropped in 2017,
• The Threshold change grew at 2.9% as
compared to 2.7% under CPC
• EI is matched at 1.4x by employers

5. CPP Annual Deduction
• CPP changes have gone up on average 7.8%
• CPP is matched dollar for dollar by business
• Liberals spin CPP as investment in retirement. The problem is that it is still a deduction from a paycheck

6. EI
PRESENTATION TITLE
• EI training programs need to change as part of
moving people to new jobs/skills
• EI sick leave needs to be modified as part of better
supporting the workforce that does not have short-
term and long-term disability
• EI needs to be spun off into a separate corporation
like CPP. There should be board of directors as
part of managing the program

7. Immigration
PRESENTATION TITLE
https://twitter.com/liberal_party/status/15625400490274
69314
@SeanFraserMP All your policies ever do is make
things worse!
https://www.slideshare.net/paulyoungcga/hos-liberal-
party-of-canada-government-been-open-transparent-
and-accountable-august-19-2022pptx
Why would you not address hiring 1 ½ years ago?
https://www.cbc.ca/news/politics/immigration-
application-backlog-1-3-million-1.6561203
Are you going to stop illegals?
https://irb.gc.ca/en/statistics/Pages/Irregular-border-
crosser-statistics.aspx

8. Job Vacancies
PRESENTATION TITLE
Blog – Wages and Job Vacancies – Canada – July 2022
Nearly 50% of the job vacancies pay less than the average wage
Housing and rent costs are becoming a big problem for Canadians
Not enough is being done to address issues with the skill trades
Healthcare continues to face many challenges including addressing labor shortages
Liberals continue to push policies that are more long-term focus instead of addressing how to reduce EMEA
dependency on Russian Oil and Natural Gas - https://www.slideshare.net/paulyoungcga/what-is-next-for-
canadas-mining-forestry-energy-and-agricultural-sectorspptx
All levels of government and the private sector need to work together to build a resilient supply chain in Canada
- https://www.slideshare.net/paulyoungcga/how-best-to-build-a-reslient-supply-chainpptx

9. Rural Issues
Manufacturers have seemingly found solutions to the supply
chain issues that have plagued production since the COVID-19
pandemic began. There are still some worries that inflation,
international conflict, potential recession or even the possible
U.S. freight railway strike could interrupt supply chains, but for
now the assembly lines are rolling at truck manufacturers.
Fuel costs continue to plague the transportation sector along
with labor shortages.
Source - https://www.thetrucker.com/trucking-news/the-nation/new-
class-8-big-rig-market-accelerates-to-highest-level-of-2022-in-august
https://www.slideshare.net/paulyoungcga/logistics-warehousing-
distribution-and-transportation-sector-august-2022pptx

10. Small Business

11. Pensions
Summary:
The first quarter saw the market value of assets held by Canadian trusteed pension funds drop $65.6 billion to
$2.21 trillion, down 2.9% from the previous quarter. Year over year, the market value rose by 7.2%, or
$148 billion.
The five largest asset categories, which together account for more than 90% of the total market value of assets,
showed mixed results. The top two categories fell, equities down 7.5% and bonds down 6.8%, while the
remaining three rose, real estate up 6.0%, infrastructure up 3.9%, and other assets up 3.6%. The smaller asset
categories posted mixed results, as follows: accounts receivable increased (+14.7%); other short-term funds
increased (+17.8%); Government of Canada treasury bills increased (+19.1%); cash, deposits and guaranteed
investment certificates decreased (-2.1%); accrued interest and dividends receivable increased (+1.0%); and life
insurance annuities decreased (-13.9%).
Canadian bonds (-6.7%) and Canadian equities (-1.0%) fell in the first quarter, while year over year, Canadian
bonds rose 3.7% and Canadian equities fell 1.5%.
Overall, domestic assets fell 1.9% in the first quarter and rose 4.6% year over year. Foreign assets dropped 5.6%
in the first quarter, while still gaining 5.7% year over year.
Source: https://www150.statcan.gc.ca/n1/daily-quotidien/220914/dq220914e-eng.htm

12. Competitiveness
Canada continues to struggle with productivity.
Wages continue to rise.
Business automation spending continue to grow for both the private and public sectors
Carbon tax and high commodity prices are leading to a rise of raw material costs.
Canada GDP would be performing much better if all levels of government work together on policies that
would support FDI in the goods producing sector.
https://www.slideshare.net/paulyoungcga/how-to-address-competitiveness-for-canada-august-
2022pptx

13. Inflation Inflation continues to remain stubbornly high due to high cost of food and
gasoline
Trudeau measure on inflation will due little to address high cost of living
Canada housing could be heading towards a 1990 crash
Middle class continues to see issues with their household budgets
Trudeau continues to say he is focusing on making things more affordable.
Key indices are showing that each mandate under Trudeau policies have
made things worse in terms of affordability.
Lithium prices continue to impact the cost of electrical vehicles
Wage growth is between 3.0% to 3.4%. Many unions are bargaining for
higher wages due to high cost of living.
Central banks hiking interest rates could lead to a slow down in each of
their economies.
BNS call out Justin Trudeau stimulus as saying it will address the issue
with high inflation. Trudeau continues to believe in throwing money at
the symptoms instead of fixing the systemic issues with his policies that
are driving inflation up!
https://www.slideshare.net/paulyoungcga/preliminary-cost-of-
living-canada-august-2022pptx

14. Key Cost Drivers

15. Summary
PRESENTATION TITLE
Summary
• Concerns over housing debt and affordable housing are driving down markets
• Access to critical metals has become a growing concerns for countries trying to shift to cleaner economic policies
• Lack of focus on systemic issues with inflation
• Supply chain disruptions continue to plague global supply chains
• High inflation is challenge for global central banks
• Threat of recession continues to rise each week
• Bear market could lead to issues with pension solvency
Blog – What is up with the Stock Market – September 16, 2022
Australia and
Commodities Prices.pdf
WestpacWeekly2022
0919.pdf
U of M Inflation
Expectations Slide Further.pdf
CIBC Inflation
Tracker.pdf
Forecast -CIBC.pdf BottomLine_2022091
6.pdf
dailypoints_2022-09-
16.pdf
weekly-economic-wa
tch.pdf
Equity - BMO -
2022.pdf
Summary:
A too-hot-to-handle market is making life impossible for would-be timers, beset with divergent
views on how to play the cycle. One study from Bank of America Corp. shows an investor can
count on the Federal Reserve’s rate cuts as a sure sign for a market bottom, while another from
Ned Davis Research suggests timing your entry according to the first easing is a sucker’s bet.
“Macro trends come and go. And I don’t think there’s more than a handful of people who can
actually claim to predict that,” said Brad McMillan, chief investment officer at Commonwealth
Financial Network. “I admire the intent behind it, but I do question the utility.”
Increasingly, the world’s largest stock market is behaving like one giant trade whose direction is
intractable on a day-to-day basis. Tuesday’s carnage, the worst in two years, was sparked by a
hotter-than-expected inflation reading. It followed two straight sessions where more than 400
stocks in the S&P 500 rose.
Down 4.8% over five days to 3,873, the S&P 500 erased all the gains from the previous week. It
has now moved in opposite directions by at least 3% for three straight weeks -- a stretch of
volatility not seen since December 2018.
Underpinning the whiplash are fast-moving narratives. The latest emphasized downside risk,
especially after FedEx Corp. withdrew its earnings forecast on worsening business conditions, a
potentially worrying sign for the global economy.
Source - https://www.bnnbloomberg.ca/all-or-nothing-stock-churn-exacts-harsh-toll-on-would-be-
market-timers-1.1819946
https://www.slideshare.net/paulyoungcga/what-is-up-
with-the-stock-market-for-we-september-16-
2022pptx

16. FDI
PRESENTATION TITLE
Blog – Has Justin Trudeau been Open, Transparent, and Accountable to Canadians – August 26, 2022
Trudeau team is approving the hydrogen project in NF. Trudeau govt failed to approved Lithium projects in BC
and AB.
Trudeau’s fiscal gap continues to be an issue despite higher revenues.
Trudeau has failed to partner will key players in the H2 and Natural Gas sectors.
Canada still lacks the capacity to produce vaccinations for COVID and other viruses
Trudeau and his team talk about making lives more affordable, but actual data shows that is not the case.
https://www.slideshare.net/paulyoungcga/hos-liberal-party-of-canada-government-been-open-
transparent-and-accountable-august-26-2022pptx

17. GDP
PRESENTATION TITLE
• GDP from 2010 to 2015 was growing at a pace of
2.3% per year. GDP from 2016 to 2019 was
growing at only 2%. Trudeau Deficit did little
address keys areas like skill gaps, supply chain
management, affordable housing, productivity,
R&D, and FDI
• Canada natural resources as % of Total GDP trails
Australia. I estimate the federal tax and regulations
have cost the federal government $10B to $16B per
year in loss taxes -
https://www.slideshare.net/paulyoungcga/has-
liberal-party-of-canada-government-been-open-
transparent-and-accountable-september-16-
2022pptx
• All levels of government need to work together as
part of regulatory and tax reform to better support
FDI
• More needs to be done to support innovation
spending in Canada -
https://www.slideshare.net/paulyoungcga/policy-
review-innovation-and-scientific-research-rd-canada

18. Fiscal Management
PRESENTATION TITLE
• YTD Nov15 there was nearly $1B surplus. The
Liberals turn the $1B surplus into 967M deficit
• Trudeau’s deficits where neither small nor
effective in terms of addressing issues with
productivity, delivery program spending with
value for money, and tax fairness
• There is YTD surplus for June 2022. The
Government has projected a deficit.

19. Natural Resources Sector
PRESENTATION TITLE
https://twitter.com/globeandmail/status/1551541296485236737
@JonathanWNV @s_guilbeault
China continues to control vast reserves of critical metals.
After nearly 7 years of Liberal govt there is still no active LI mine in CAN.
Little is be said about cobalt mining practices in the Congo, why?
https://www.slideshare.net/paulyoungcga/natural-resources-canada-whats-next-july-2022pptx
https://www.wealthprofessional.ca/news/industry-news/canadians-decades-of-higher-living-standard-than-aussies-is-
over/364974 or https://www.wired.com/story/china-lithium-mining-production/

20. Oil and Gas
PRESENTATION TITLE
Blog – What is next for Oil and Natural Gas – August 2022
Hydrogen continues to be a big focus for governments around the world. The current source of hydrogen is from natural
gas. Countries want to produce hydrogen via electrolysis process that splits atoms from water. The technology is still in its
infancy stages.
Both Biden and Trudeau continue to put up numerous roadblocks related to natural gas and oil. Biden and Trudeau have
decided to focus on critical minerals development. The issue with critical metals is their tailing ponds along with logistics
require to move the ore to a refinery.
Oil prices have fallen, but that could be short-term as OPEC may make production cuts.
AB government is about to have $13B surplus due to higher oil prices.
Canada could be a leader in sustainable and ethically oil and natural gas. The problem is the Liberals overburden oil and
LNG projects with excessive taxes.
There are concerns with expansion of plug-in stations due to issues with the power grid.
https://www.slideshare.net/paulyoungcga/energy-sector-oil-and-natural-gas-canada-and-usa-vs-the-world-august-
2022pptx

21. Natural Resources Sector
https://financialpost.com/commodities/energy/oil-gas/german-utilities-
close-to-long-term-lng-deals-with-qatar-sources-say
https://www.slideshare.net/paulyoungcga/natural-resources-canada-whats-next-july-2022pptx
PRESENTATION TITLE

22. Agriculture Sector
PRESENTATION TITLE
Summary
Food costs will continue to be high
Food insecurity will continue to plague governments around the world
Farm equipment sales are expected to be 4.6% through 2027
More and more governments are looking at vertical farming as a possible solution for food supply and security
issues
Expert farming through data and AI practices are helping to improve crop yields and food production
https://www.slideshare.net/paulyoungcga/agriculture-equipment-sector-analysis-and-commentary-
farmingpptx-252950492

23. Manufacturing
PRESENTATION TITLE
Summary:
Manufacturing sales fell 0.9% to $71.6 billion in July, the third consecutive monthly decline, on lower sales
in 12 of 21 industries, led by the primary metal (-9.9%), petroleum and coal product (-5.3%), and furniture
and related products (-11.2%) industries. Meanwhile, sales of food (+2.5%), motor vehicle parts (+10.7%),
and paper products (+8.1%) industries increased the most.
https://www.slideshare.net/paulyoungcga/manufacturing-sector-canada-july-2022pptx

24. Real Estate and
Housing
PRESENTATION TITLE
Blog – Housing and Homelessness – Canada and the World –
August 2022
Higher interest rates are starting to take their toll on the housing
market
NZ, Australia, and Canada are likely going to see a bigger fall in
terms of housing prices
Trudeau rely on government spending and real estate to prop
up his economic growth. Trudeau spent little time on policies
that would have driven stronger growth within the goods
producing sector
Rental costs continue to sore across Canada
Construction materials continue to see high prices
Housing starts continues to face many challenges.
https://www.slideshare.net/paulyoungcga/affordable-
housing-and-homelessness-canada-and-the-world-august-
2022pptx

25. Circular and Green Economy
PRESENTATION TITLE
I support any policies that will mitigate the impact of climate while growing
the economy in a sustainable way.
I support any balance policies that protect the environment without
increasing the cost of living
Little has been said about the environmental impact of mining critical
metals like Lithium.
Countries around the world are struggling with fresh water
Agriculture is facing many pressures like cutting CO2 emissions and
availability arable land
Electrical vehicles have many concerns including the amount of lithium and
other materials required as part of the manufacturing process.
Wind and Solar are being pushed without much discussion on the
environmental and wildlife impact from solar and wind farms.
https://www.slideshare.net/paulyoungcga/how-to-mitigate-the-
impact-of-climate-change-september-2022pptx

26. Summary
https://www.morningstar.ca/ca/news/226047/canadas-failing-productivity-is-
feeding-inflation.aspx
https://www.bnnbloomberg.ca/job-vacancies-hit-record-high-in-q2-statistics-canada-
1.1821144
https://www.mpamag.com/ca/news/general/bank-of-canada-says-inflation-is-still-too-high/421172
PRESENTATION TITLE
Blog
Canada labor market continues to face many pressures
Germany turns to
Qatar's LNG in quest to replace Russian natural gas.pdf
Bank of Canada says
inflation is still too high Canadian Mortgage Professional.pdf
Monthly Economic
Letter - September 2022 BDC.ca.pdf
Canada’s Failing
Productivity Is Feeding Inflation Morningstar.pdf
Job vacancies hit
record high in Q2 Statistics Canada - BNN Bloomberg.pdf
Rural Canada.pdf
StatCan says
businesses tried to fill nearly one million jobs in Q2 - Canadian Manufacturing.pdf
Study shows that
financial pressure is mounting for working Canadians - Canadian Manufacturing.pdf
Modspace launches
in Halifax for small businesses looking for co-working spaces - Canadian Manufacturing.pdf
Blade IAQ and JF
Taylor announce distribution deal in Atlantic Canada - Canadian Manufacturing.pdf
Global aircraft tire
market growth driven by the recovery of the aviation industry - Canadian Manufacturing.pdf
NGen announces
$10.5M in support for OmniaBio's cell and gene therapies facility - Canadian Manufacturing.pdf
Economic Outlook -
USA.pdf
Canada Immigration
2022.pdf
Check Here IRCC
Latest Processing Times As Of September 13!.pdf