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Iran War, Soaring Prices Drive Record Oil Profits
U.S. President Donald Trump’s misguided war against Iran has caused another shock in global oil prices – the 14th such shock in the last half-century. World oil prices rose 50% or more after the war started, and have stayed high despite Trump’s repeated promises to stop the war and reopen the Strait of Hormuz. These price increases are is driving massive increases in profits for petroleum companies around the world – including Canada.
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New Research Shows National Cild Care Plan Already Driving Economic Benefits In Ontario
The Centre for Future Work has co-published new research quantifying the economic and fiscal benefits being generated in Ontario from the new Canada Wide Early Learning and Child Cre program. The expansion of affordable child care services in Ontario resulting from that new program has delivered a substantial economic boost to the province. That boost would have been even stronger, if the provincial government had not lagged behind other provinces in implementing the new national program.
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Senate Testimony on the Canadian Economic Outlook
Centre for Future Work Economist and Director Jim Stanford was recently invited to testify before the Senate of Canada’s National Finance committee, regarding the economic and fiscal outlook for the country. The testimony was part of the committee’s hearings regarding certain aspects of budget implementation (including measures announced in the recent Spring Economics and Fiscal Update).
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A Sequel We Don’t Want: What the 2026 Oil Price Shock Will Cost Canadians.
The war in the Persian Gulf has caused the biggest disruption in oil supply in world history, and is driving up costs and inflation around the world – including in Canada. New research from the Centre for Future Work, published through the False Profits project, shows how damaging this latest oil shock will be for affordability and inflation in Canada. It also proposes policies to protect consumers and workers.
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Annotated Bibliography on the Net Employment Benefits of the Energy Transition
Investments in sustainable energy and energy conservation are larger than investments in fossil fuel energy systems. Moreover, the work involved is more labour-intensive than fossil fuel projects (which have very small labour inputs relative to the scale of capital investments or GDP). For both reasons, the shift from fossil fuels to sustainable alternatives will definitely create far more jobs than are lost in fossil fuel industries as the economy transitions to net-zero.
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Symposium on Promising Practices in Scholar-Union Collaboration: Lessons for Building Effective Research Partnerships
Academics and trade unions can do great research together, to the benefit of both sides. This special symposium of articles discusses how to do it right.
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Youth Unemployment: The Canary in the Coal Mine
Unemployment has remained stubbornly high in Canada, made worse by the consequences of Donald Trump’s tariffs and the lingering effects of high interest rates. As always, young people bear the heaviest burden of a weakening labour market. They are the last hired, and first fired – and hence rising unemployment is a danger sign of labour market turbulence ahead. Last summer had the highest unemployment among returning students since the turn of the century (save the COVID pandemic), and the coming summer job season shows no signs of substantial improvement.
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Transition Away from Fossil Fuel Jobs is Already Occurring: Here’s How to Manage it Better
A report from the Centre for Future Work presents new research on the ongoing decline of fossil fuel employment in Canada, and strategies for managing that decline more effectively and fairly. The report, Worker Voice and Effective Transitions for Fossil Fuel Workers in Canada (by Jim Stanford and Kathy Bennett), also asks fossil fuel workers what sorts of supports they want as this decline continues, and lays out best practices to avoid unemployment during the transition.
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Federal Budget 2025: Unpacking the New Capital Budgeting Framework
Leading into this budget, the Carney government made much of a new distinction between operational spending and capital spending: between “spending” and “investing”. However, in practice this distinction was mostly optics – and did not reflect any meaningful change in budget accounting and reporting.
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Happy Minimum Wage Day, Canada!
Half of Canada’s provinces all increased their minimum wage on October 1: Saskatchewan, Manitoba, Ontario, Nova Scotia, and Prince Edward Island. So this is a good occasion to celebrate the importance of higher minimum wages as a powerful tool for improving incomes and reducing inequality.