Ontario to release 2022 economic outlook as province faces possible recession
CBC
Ontario is set to deliver its updated 2022 economic outlook Monday, as the province faces an uncertain fiscal environment in the months ahead.
Minister of Finance Peter Bethlenfalvy is slated to table the document in the legislature at around 1 p.m. ET.
In September, the government revealed it ended the last fiscal year with a $2.1-billion surplus, despite projecting a $13.5-billion deficit.
At the time, Bethlenfavy attributed the surplus to higher-than-forecasted revenues and inflation, and nominal GDP growth more than five points higher than the average private sector forecast at the time of the spring budget.
Monday's outlook comes as governments around the world deal with economic headwinds like sticky inflation, rising interest rates and the increasing likelihood of a recession next year.
Economists at CIBC said in a report last month that Ontario is expected to be among the provinces most affected by an economic slump, in part due to high household debt, a downturn in the real estate market and tightening labour conditions.
P.E.I.'s Public Schools Branch is looking for 50 substitute bus drivers, and it'll be recruiting at three job fairs on Saturday, June 8. The job fairs are located at the Atlantic Superstore in Montague, Royalty Crossing in Charlottetown, and the bus parking lot of Three Oaks Senior High in Summerside. All three run from 9 a.m. until noon. Dave Gillis, the director of transportation and risk management for the Public Schools Branch, said the number of substitute drivers they're hiring isn't unusual. "We are always looking for more. Our drivers tend to have an older demographic," he said.