Average hourly wage in Canada now $34.95: StatCan
Average hourly wages among Canadian employees rose to $34.95 on a year-over-year basis in April, a 4.7 per cent increase, according to a Statistics Canada report released Friday morning.
Global markets have been selling off on the fear of a new COVID-19 variant found in South Africa.
The new, potentially more transmissible variant prompted the World Health Organization (WHO) to call an emergency meeting Friday. Canadian government officials are also meeting to address the efficacy of the current vaccines and possible treatment options.
While the number of confirmed cases is small for now, scientists have concerns around the high number of mutations in the variant's spike protein.
My point is, we just don't know where this will go.
What we do know, is the markets are thinly-traded due to the U.S. Thanksgiving holiday and liquidity levels much lower than usual. The U.S. markets also close at 1:00 p.m. ET and there will be some who will not want to hold positions in stocks going into the weekend.
Meanwhile, North American markets opened sharply lower Friday. Oil has pulled back significantly and at one point trading below US$70.00 a barrel due to fears that demand could wain if further lockdowns and restrictions are put into place. Investors have been flocking to the safety of the 10-year U.S. Treasury bond and gold.
You have to wonder at this point if this is an overreaction.
As an investor what should you consider? Begin by considering the facts:
1. Investors and the market hate uncertainty and when we do have uncertainty, it creates volatility.
2. It isn't comfortable, but we have been here before. However, we haven't dealt with a significant new variant in a while.
3. In the past, the markets recovered and the risk sentiment came back. There is no guarantee this will happen again, but it is something to consider.
So let's get back to fundamentals:
1. Look at your portfolio to ensure your investments are aligned to who you are as an investor and how comfortable your tolerance for risk is. How much can you afford to lose and how much are you willing to lose?
2. If you are a balanced investor with a long-term perspective you likely have been here before and stayed the course.
3. In the heat of a trading day try not to let your emotions dictate your investment decisions. Sometimes doing nothing is the hardest decision.
Finally, it isn't inconceivable there will be investors who have been sitting on the sidelines waiting for a buying opportunity. In other words, they might benefit from a little volatility.
Average hourly wages among Canadian employees rose to $34.95 on a year-over-year basis in April, a 4.7 per cent increase, according to a Statistics Canada report released Friday morning.
A 4.2-magnitude earthquake was recorded west of Vancouver Island early Friday morning.
Andy Kim's 'Rock Me Gently' is marking a major milestone, as it celebrates its 50th anniversary.
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
The threat of zebra mussels has prompted the federal government to temporarily ban watercraft from a Manitoba lake popular with tourists.
Just as she had feared, a restaurant owner from eastern Quebec who visited Montreal had her SUV stolen, but says it was all thanks to the kindness of strangers on the internet — not the police — that she got it back.
Oprah Winfrey said on Thursday evening that she has long played a role in promoting unhealthy and unrealistic diets.
A southwestern Ontario woman has received an $8,400 bill from a hospital in Windsor, Ont., after she refused to put her mother in a nursing home she hated -- and she says she has no intention of paying it.
Toronto police say a man who allegedly attempted to access Drake’s Bridle Path property was taken to hospital on Thursday after an altercation with security guards.
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
A Listowel, Ont. man, drafted by the Hamilton Tigercats last week, is also getting looks from the NFL, despite only playing 27 games of football in his life.
A small Ajax dessert shop that recently received a glowing review from celebrity food critic Keith Lee is being forced to move after a zoning complaint was made following the social media influencer’s visit last month.
The Canada Science and Technology Museum is inviting visitors to explore their poop. A new exhibition opens at the Ottawa museum on Friday called, 'Oh Crap! Rethinking human waste.'
The Regina Police Service says it is the first in Saskatchewan and possibly Canada to implement new technology in its detention facility that will offer real-time monitoring of detainees’ vital health metrics.
The stakes have been set for a bet between Vancouver and Edmonton's mayors on who will win Round 2 of the Stanley Cup playoffs.
A grieving mother is hosting a helmet drive in the hopes of protecting children on Manitoba First Nations from a similar tragedy that killed her daughter.
A chicken farmer near Mattawa made an 'eggstraordinary' find Friday morning when she discovered one of her hens laid an egg close to three times the size of an average large chicken egg.
A P.E.I. lighthouse and a New Brunswick river are being honoured in a Canada Post series.