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Centre for Future Work

A non-partisan centre of excellence, developing timely and practical policy proposals to help make the world of work better for working people and their families.

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  • Home
  • About
    • About CFW
    • About the Director
    • Meet the Team
  • Research
    • Sector Bargaining Clearing House
  • Coverage & Commentary
  • PowerShare
  • Online Learning
    • Debunkers’ Academy
    • Economics for Everyone: How to Cut Through the Jargon
  • Fiscal Policy,  Macroeconomics,  Research

    Testimony to House of Commons Finance Committee Pre-Budget Hearings

    October 20, 2023 /

    Centre for Future Work Economist and Director Jim Stanford was invited to present testimony to the House of Commons Standing Committee on Finance, as part of its annual pre-budget hearings. Here are his opening remarks, presented on October 19, 2023.

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    Jim Stanford
  • Commentary,  Finance,  Macroeconomics

    Canada’s Grocery Giants Spend Billions on their Own Shares

    August 31, 2023 /

    Amidst public anger at high food prices, Canada’s major supermarket chains have argued they are not the source of the problem. Food prices are high, they claim, because of higher costs charged by food processors and other suppliers. While their profits have grown to record highs during the current inflationary episode, they claim this merely reflects a normal profit ‘margin’...

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    Jim Stanford
  • Commentary,  Employment & Unemployment,  Inflation,  Macroeconomics

    Inflation Accelerates in July Despite Higher Unemployment

    August 16, 2023 /

    Statistics Canada reported this week that consumer price inflation in Canada accelerated modestly in July, with the headline year-over-year rate rising to 3.3% (from 2.8% in June). In this commentary, Centre for Future Work Director Jim Stanford argues this adds to growing evidence that there’s no reliable correlation between inflation and unemployment. The commentary originally appeared at rabble.ca.

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    Jim Stanford
  • Commentary,  Macroeconomics

    The Supply Chain, Profits, and Food Prices: Recent Developments and an Excellent New Video

    June 29, 2023 /

    It’s been a busy couple of weeks in the food inflation debate. Recent developments include: 1. The federal government imposed a $50 million fine (the highest in history) on Canada Bread for its role in a bread price fixing scandal dating back to 2007.  2. The House of Commons Agriculture & Agri-Food committee released a report of its investigations into grocery profits and higher food prices. (See the Centre for Future Work’s submission to that inquiry, documenting the sustained rise in food retail profit margins since the pandemic.) 3. The latest inflation data from Statistics Canada has confirmed that food inflation is continuing at historically high rates, despite the slowdown…

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    Jim Stanford
  • Commentary,  Macroeconomics,  Wages

    At Last, Wages are Growing Faster Than Prices… and That’s Good

    June 12, 2023 /

    A turning point has recently been reached in the current inflationary upsurge in Canada. Beginning in February, for the first time in two years, the growth in average hourly wages over the previous 12 months finally matched, and slightly exceeded, the corresponding growth in prices. This is a positive development – but doesn’t mean that workers have ‘caught up’ to recent inflation. Because real wages fell so much in 2021 and 2022, wages will need to grow faster than prices for some years to come to repair the damage to workers’ living standards

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    Jim Stanford
  • Commentary,  Finance,  Macroeconomics

    House of Cards: Interest Rates, Household Debt, and the Housing Crisis

    June 12, 2023 /

    Last week the Bank of Canada increased its overnight interest rate, for the 9th time in little over a year, to 4.75%. In making its announcement, the Bank cited a slight increase in year-over-year headline CPI inflation last month. This, the Bank suggested, was one reason why it abandoned a temporary ‘hold’ on further interest rate increases announced in January. The Bank’s rationale is ironic, because the Bank’s rapid run-up in interest rates was the main cause of that small uptick in inflation

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    Jim Stanford
  • Employment & Unemployment,  Inequality,  Macroeconomics,  Research

    The Failures of ‘Trickle-Down’ Economics in Alberta

    May 24, 2023 /

    Since its election in 2019, the current provincial government in Alberta has emphasized a classic ‘trickle-down’ economic strategy. It argues that by boosting profits of private business, capital investment will grow, and job-creation, rising incomes, and economic growth will then ‘trickle down’ to the rest of the population.

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    Jim Stanford
  • Environment & Work,  Macroeconomics,  Research

    No Correlation Between Inflation and Carbon Pricing

    May 8, 2023 /

    Canadian conservatives have repeatedly tried to pin the blame for post-pandemic inflation on the present federal government, and even personally on Prime Minister Justin Trudeau (with their ‘JustInflation’ label). The latest incarnation of that strategy claims the surge in inflation over the last two years is due to the federal carbon tax – which applies in those provinces (such as Ontario and Alberta) which have refused to participate directly in the Canada-wide carbon pricing system. In this report, originally published in Canadian Dimension magazine, Centre for Future Work Director Jim Stanford shows there is no empirical correlation or theoretical link between carbon taxes and economy-wide inflation. Top Ten Reasons We…

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    Jim Stanford
  • Commentary,  Macroeconomics,  Wages

    Inflation is Coming Down – But Interest Rates Have Nothing To Do With It

    April 19, 2023 /

    New inflation data indicates a welcome slowing of inflation. Prices increased by an average of 4.3% over the 12 months ending in March. That’s barely half the year-over-year inflation rate just 9 months ago, in June 2022 (when inflation peaked at 8.1%). Despite this encouraging news, however, there are some important and worrying factors lurking in the weeds...

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    Jim Stanford
  • Commentary,  Finance,  Macroeconomics

    Getting Ready for GFC 2.0

    March 23, 2023 /

    One consequence of the unprecedented tightening of monetary policy imposed by central banks in most countries (including Canada) over the past year has been growing fragility in the broader financial system. Banks, near-banks, and other financial players – many of them highly leveraged after 15 years of near-zero interest rates – are now grappling with the impacts of higher interest rates on their investments and balance sheets.

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    Jim Stanford
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Recent Posts

  • Testimony to House of Commons Finance Committee Pre-Budget Hearings
  • On Canadian Unionism, History, and Phony Horse-Races
  • Union Coverage and Inequality in Canada
  • Interrogating the Labour Shortage Hypothesis
  • Short Film Explores Benefits of Workers’ Collective Voice for Workplaces and the Economy

About Us

Read more on our About page.

The Centre for Future Work conducts progressive research on labour issues, with offices in Canada and Australia. In Canada, the Centre works in collaboration with the Canadian Centre for Policy Alternatives. In Australia, the Centre is a project of the Australia Institute.

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Centre for Future Work Follow 8,521 10,201

The Centre for Future Work publishes progressive economic research on work, employment & labour markets. Director Jim Stanford. Project of @TheAusInstitute.

CntrFutureWork
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JimboStanford avatar; Jim Stanford @JimboStanford ·
22 Nov 1727439937220559020

For those fretting over the fed. deficit after yesterday's #FES2023, let's compare to the US. 🇺🇸's fed deficit is 7x bigger (as %GDP) than 🇨🇦's. Their inflation is no different. Their economy's growing robustly with less unemployment, while 🇨🇦 is on edge of recession. #cdnecon /2

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JimboStanford avatar; Jim Stanford @JimboStanford ·
22 Nov 1727382970603073760

Fascinating review by @andy_takagi for @TorontoStar on the growing pay gap between executives & top managers, and wages for the rest of us: . This data doesn't include stock options and other equity-based bonuses; the total income gap is wider. #canlab /2

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10NewsFirst avatar; 10 News First @10NewsFirst ·
22 Nov 1727196716934607152

Unpaid overtime is costing Aussies a whopping $11,000 a year.

According to new research from the @CntrFutureWork, the average worker was losing $425 every fortnight by putting in more work than they’re paid to do.

Researchers found that young workers between the ages of 18 and…

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CPSUTas avatar; The Community & Public Sector Union @CPSUTas ·
22 Nov 1727189127567946028

Good workmates tell each other to go home on time today.

When it doesn't feel possible, good workmates join their union and stick up for safe and manageable workload.

Start small. Start today! Go home on time. Celebrate @GoHomeOnTimeDay! 🥳

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Jim Stanford Follow 27,595 26,399

Economist & Director, Centre for Future Work. He/him. Also Economics Dept. McMaster U.; Hon. Prof. of Political-Economy Sydney U.; author Economics for Everyone

JimboStanford
JimboStanford avatar; Jim Stanford @JimboStanford ·
23h 1730034713090568458

Another self-inflicted wound from knee-jerk monetary austerity. Housing prices have been a leading cause of inflation. To fight inflation the RBA raises int rates. High int rates crush new residential construction activity. Housing supply tanks. Inflation gets worse.

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JimboStanford avatar; Jim Stanford @JimboStanford ·
23h 1730032948643246260

Well done @CPSUnion and allies who have been working so long to expose the rorts and self-dealing of privatised employment services. 🙏🏼 This is a huge step to repairing the damage.

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JimboStanford avatar; Jim Stanford @JimboStanford ·
29 Nov 1730002589507596604

Interesting & timely new report on the many possible formulations of 4-day workweek plans, from Josh Bersin & the fine folks at Work Time Reduction Centre of Excellence (https://worktimereduction.com/). Real world case studies show 4-day schemes pay off: https://joshbersin.com/the-four-day-work-week/. #canlab

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JimboStanford avatar; Jim Stanford @JimboStanford ·
28 Nov 1729627489335726153

* High housing prices are "helping people feel a little bit more wealthy"
* Households are "doing fine" & "managing quite well"
* Households have "large savings buffers" & "they're largely still intact"
* Per capita consumption is falling, but "nevertheless it's strong enough"
/3

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