The Weekly Review, March 3 to 7, 2025

Canadian retail spending increased in 2023

Canadian retail spending increased by 3.2% to $839.8 billion in 2023, of which $67.7 billion was e-commerce revenue. Online sales increased by 7.0%, underscoring a sustained shift toward digital platforms. More than half of the retail operating revenue in 2023 was generated in four subsectors: motor vehicle and parts dealers (27.2% of retail operating revenue), food and beverage retailers (18.6%), general merchandise retailers (12.4%), and gasoline stations and fuel vendors (10.1%).

Source: Annual retail trade, 2023

Labour productivity is on the rise again after little change in the first three quarters of 2024

Labour productivity of Canadian businesses increased 0.6% in the fourth quarter, after posting slight variations in each of the first three quarters of 2024. This was the highest quarterly growth rate in a year. For 2024, labour productivity of businesses resumed growth, rising by 0.6%, after declining over the previous three years.

Source: Labour productivity, hourly compensation and unit labour cost, fourth quarter 2024

Life expectancy increases for the first time in three years

Following three years of decline, Canada's life expectancy at birth rose from 81.3 years in 2022 to 81.7 years in 2023. However, this increase still left life expectancy 0.5 years below the level of 82.2 years observed in 2019, before the COVID-19 pandemic. The rise was greater for males (+0.5 years from 2022 to 79.5 years in 2023) than females (+0.4 years to 83.9 years).

Source: Key findings from the Health of Canadians report, 2024

Canada's merchandise exports increased in January 2025

In January, in the context of tariff threats on Canadian goods, Canada's merchandise exports increased 5.5% while imports were up 2.3%. It was a fourth consecutive monthly increase for exports and imports, and both reached record highs in January. Canada's merchandise trade surplus with the world widened from a revised $1.7 billion in December to $4.0 billion in January. This was the largest surplus since May 2022.

Source: Canadian international merchandise trade, January 2025

Employment rate held steady in February 2025

Employment was virtually unchanged in February (+1,100; +0.0%) and the employment rate held steady at 61.1%. The unemployment rate was unchanged at 6.6%. In February, employment rose among core-aged (25 to 54 years old) women (+27,000; +0.4%), while it fell among women aged 55 years and older (-15,000; -0.8%). Employment increased in wholesale and retail trade (+51,000; +1.7%) as well as finance, insurance, real estate, rental and leasing (+16,000; +1.1%). There were declines in professional, scientific and technical services (-33,000; -1.6%) and transportation and warehousing (-23,000; -2.1%).

Source: Labour Force Survey, February 2025

International Women’s Day and the 30th anniversary of the Beijing Declaration and Platform for Action

The year 2025 marks the 30^th anniversary of the Beijing Declaration and Platform for Action, which, according to UN Women, “is the world’s most comprehensive, visionary plan ever created to achieve the equal rights of ALL women and girls.” The Beijing Declaration and Platform for Action, unanimously adopted in 1995 by 189 countries (including Canada) at the Fourth World Conference on Women, calls upon governments, the international community, and civil society to take strategic action in 12 critical areas of concern, including the education and training of women, women and the economy, and women in power and decision-making. Strategic objectives with concrete actions are proposed within each of these areas.

Source: Marking International Women’s Day