We need a rate hike pause to save Canadian jobs
The Bank of Canada’s rapid interest rate hikes are driving us towards a recession – but it's not too late to pump the brakes.
The Bank of Canada’s current approach of rapidly increasing interest rates is putting workers at risk of a policy-induced recession, which could throw hundreds of thousands of people out of work.
Families will pay the price with lost jobs and rising bankruptcies. Precarious and low-wage workers – in particular women, Indigenous, racialized, recent immigrant workers – will be hit the hardest. But we know there’s a better way.
Canada’s unions and the Centre for Future Work have launched a powerful new report–written by economist Jim Stanford–that outlines real solutions to the inflation crisis that’s hurting workers’ wallets.