Canada’s economy grows 3.5 per cent in third quarter, beating expectations

The Canadian economy grew 3.5 per cent during the third quarter, bouncing back from the second quarter slump brought on by last May’s Alberta wildfires.

The economy grew 0.9 per cent during the quarter, equivalent to an annualized rate of 3.5 per cent. That rebounds from the 1.3 per cent decrease in the second quarter, and it beats economists’ average expectations of a 3.38 per cent gain.

“Exports of energy products, rebounding from a second quarter decline, boosted growth,” StatsCan said. Exports of goods and services rose by 2.2 per cent during the third quarter, reversing a 3.9 per cent decline in the second quarter.

“Growth was driven by a 6.1 per cent increase in the energy sector, following a 5.1 per cent decline in the second quarter as a result of the Fort McMurray wildfires,” StatsCan said.

Exports of goods were up 2.3 per cent, while service exports advanced 1.4 per cent. Stephen Poloz, governor of the Bank of Canada, earlier this week touted service exports as key to returning Canada’s economy to full capacity.

Read the full article on Financial Post.

‘This might be our moment’ to attract top talent to Vancouver in Trump’s wake

Within days of this month’s U.S. presidential election, Cody Green’s Vancouver-based financial tech startup was facing “an influx of literally dozens of resumés coming in from the States.”

Green, the founder and co-CEO of Canada Drives, says it’s too early to say if the flood of American applicants is a knee-jerk reaction from some skilled workers unhappy with the ascendancy of president-elect Donald Trump.

“We’ll feel in the coming months what the actual net effect is going to be,” said Green, whose company specializes in securing financing for car owners.

But the potential for tech workers to make good on their word to move to Canada in the event of a Trump presidency could provide growth for start-ups struggling to recruit talent in Vancouver’s burgeoning tech sector.

Trump’s election comes a week after federal Finance Minister Bill Morneau announced a new “global skills strategy” targeting skilled foreign workers.

The program, set to go into effect in the spring, aims to offer short-term labour relief to international businesses or tech startups that need to recruit top talent from overseas.

Green said whether it’s engineering or programming jobs, it’s “always a challenge to fill them with local candidates.”

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Novel mix of industrial strata and housing may trigger trend

Investors are circling an East Vancouver development, the first in North America to mix condominium towers with industrial strata space.

“I thought the industrial buyers would all be owner-occupiers, but we are getting a lot of calls from investors,” said Dan Jordan, a Colliers International vice-president who began marketing the non-residential space at Wall Financial’s Strathcona Village this month.

In 2014, the City of Vancouver rezoned a two-block strip of East Hastings to allow both residential and “light industrial,” defined as production, design and repair uses.

Strathcona Village, being built on the north side of the 900-block of East Hastings Street, is the first development under the zoning change. It is a three-tower condominium complex skirted by two floors of industrial, commercial and retail strata. All 280 condos in the development sold out last year at prices ranging from $199,000 to $439,000. As a condition of the rezoning, Wall Financial is including 70 apartments that will be turned over to the city for social housing. Those will be rented at rates ranging from $375 per month to market levels.

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Steak and Lobster Feast?!

Why is there a lobster and steak feast at work you ask? It all started when Stella found out that two members of our team, Alyssa and Paul, has never had lobster before! So this lobster challenge was created as an incentive for the whole team to beat their targets for the month of October. Oh, the steak, corn, and salad were a bonus.

I am happy to announce that our Impactemps team defeated the Lobster Challenge and exceeded their targets!

And yes, the man in the apron cooking for us in the rain is our President, and CEO of Impact Recruitment, Jeff Harris. How awesome is our boss?Thank you for the feast Management! And thank you to our awesome team for kicking off the new fiscal year with a fantastic start!

Impact Halloween Festivities!

Happy Halloween from Impact Recruitment & Impactemps! Yes, it’s that time of the year again — another year of Divisional Halloween Costume Showdown, followed by a friendly karaoke match session! Which team is your favourite?

In case you missed the last one, please see photo below for a recap: