The Business and Community Newsletter – June 2020

The success of the initial Canadian Survey on Business Conditions (CSBC), a national crowdsourced data collection created through collaboration between Statistics Canada and the Canadian Chamber of Commerce, clearly demonstrated the requirement for sustaining the data collection and analysis of this vital information to meet the needs of Canada's business sector. The second iteration of the Canadian Survey on Business Conditions launched on Friday May 29, 2020. The survey is in collection until late June.

In order to produce results applicable to the entire Canadian economy, a probability-based sampling approach will be used for this iteration.

The CSBC will collect timely and relevant data about what businesses are going through and how they are planning for the eventual recovery. To do so, this second iteration of the CSBC will provide additional insight into the ongoing repercussions of COVID-19 on businesses in Canada as well as needs and requirements related to the recovery period. Specifically, information will be collected on the phased reopening, the intangible economy and cyber security, availability of personal protective equipment, as well as measures businesses plan to implement temporarily and permanently moving forward.

Results for the survey are scheduled to be available early-July.

A new Statistics Canada interactive mapping tool puts data in your hands. The Canadian Statistical Geospatial Explorer (CSGE), launched April 23, 2020, gives users the ability to explore, create custom maps and download geo-enabled data to power their own geospatial analytics and to inform decision-making about their areas of interest.

The CSGE allows users to visualize data at granular levels such as dissemination areas and provincial-territorial health regions, as well as at more aggregated geographies.

Statistics Canada is committed to developing new approaches and products to empower governments, businesses and Canadians to respond to, and recover from, the COVID-19 pandemic.

To continue this commitment, the CSGE provides geo-enabled statistics that are critical to understanding this pandemic. The CSGE includes a range of COVID-19 relevant indicators such as those related to the health, demographic profile and socio-economic conditions of the Canadian population. These indicators are derived from a wide range of data stores including the Canadian Community Health Survey and the Census of Population.

The CSGE also includes new innovative indices developed by Statistics Canada, including the Canadian Index of Multiple Deprivation and the Index of Remoteness.

To find out more, consult the Canadian Statistical Geospatial Explorer Hub.

The Health and Behavioural Impacts of COVID-19 on Youth

This article focuses on the most pressing concerns expressed by Canadian youth aged 15 to 30, regarding the impact of COVID-19 and the kinds of activities they engage in for their mental or physical health.

Overall, the results indicate that youth are more concerned about the health of others than about their own health and they also engage in some positive health behaviours.

Study: Gold and silver prices amid the COVID-19 pandemic, March 2020

Precious metals such as gold and silver are often deemed "safe havens" by investors in times of economic uncertainty. In March, the price of unwrought gold and gold alloys rose 4.7% to its highest level on record, while the price of unwrought silver and silver alloys was down 12.6% from a month earlier, according to the Industrial Product Price Index.

A new study examines the value and price movements of these precious metals in the midst of the most serious health and economic crisis facing the world since the Second World War. It also sheds light on why gold has retained its lustre, while silver has lost some of its sheen amid the COVID-19 pandemic.

The distribution of temporary foreign workers across industries in Canada

This article uses the 2017 Canadian Employer-Employee Dynamics Database (CEEDD) to examine the distribution of temporary foreign workers (TFW) across industrial sectors and firms. Given the continuous growth in the number of TFWs in recent years, the analysis provides important implications for the possible delays in the inflow of new TFWs and how it could affect essential services during the pandemic and the upcoming economic recovery period.

Running the economy remotely: Potential for working from home during and after COVID-19

Physical distancing measures to stop the spread of COVID-19 have resulted in a large number of Canadians working from home, many for the first time. This sudden transition to how the economy is operating raises questions about how many jobs can reasonably be performed from home.

COVID-19 Pandemic: Impacts on the work placement of postsecondary students in Canada

This paper provides insight on how postsecondary students' work placements were impacted by the COVID-19 pandemic. Results are based on the recent Statistics Canada crowdsourcing data collection completed by over 100,000 postsecondary students between April 19 and May 1, 2020.

Impact of COVID-19 on Small Businesses in Canada

This article provides data on revenues, layoffs, credit and rent deferral based on crowdsourcing data collection from more than 12,600 businesses between April 3 to 24, 2020.

From March to April, the labour force—the total of all those who are either employed or unemployed—dropped by 1.7 million (-8.5%). In May, this trend reversed and the labour force increased by 491,000 (+2.6%), as employment began to rebound (+290,000; +1.8%) and unemployment increased (+201,000; +8.3%) as more Canadians looked for work.

The labour force participation rate—a measure of all those who are employed or unemployed as a proportion of the entire working-age population—increased 1.6 percentage points to 61.4% in May, but remained well below the pre-COVID-19 February rate of 65.5%.

While the labour force participation rate increased, a significant segment of the potential labour force remained underutilized in May. The "labour underutilization rate" combines those who were unemployed; those who were not in the labour force but who wanted a job and did not look for one; and those who were employed but worked less than half of their usual hours.

In May, more than one-third (34.8%) of the potential labour force was fully or partially underutilized, down slightly from 36.6% in April, but considerably higher than the 11.9% observed in February.

The underutilization rate was 51.8% for youth aged 15 to 24; 31.3% for people in the core working ages of 25 to 54; and 35.0%, for people aged 55 and older. For more details, check out the article Labour Force Survey, May 2020 in The Daily.

Prices rose in four of the eight major components on a year-over-year basis. Transportation prices contributed the most to the decline in the CPI, mainly because of lower gas prices compared with May 2019. Food prices (+3.1%) remained high in May, with the largest year-over-year increase among the major components.

As the year-over-year decline in prices for goods (-2.3%) slowed in May, largely the result of rising energy prices, year-over-year growth in prices for services slowed from 2.0% in April to 1.3% in May. This slowdown was broad-based, with travel, shelter and contract services, such as telephone services and passenger vehicle insurance premiums, all contributing.

Two ways of exploring the Consumer Price Index (CPI)

Visit the Consumer Price Index Portal to find all CPI data, publications, interactive tools, and announcements highlighting new products and upcoming changes to the CPI in one convenient location.

Check out the Consumer Price Index Data Visualization Tool to access current and historical CPI data in a customizable, visual format.

For more details, check out the article Consumer Price Index, May 2020 in The Daily.

Industrial Product Price Index: Flash estimates

To provide Canadians with timely economic data, Statistics Canada is releasing early estimates of the Industrial Product Price Index (IPPI) on a monthly basis.

These flash estimates are revised when the IPPI is officially released. The latest Industrial Product Price Index: Flash estimates, May 2020 were released on June 12, 2020. Because flash estimates are calculated using preliminary data, these values should be used with caution.

The Industrial Product Price Index reflects the prices that producers in Canada receive as goods leave the plant gate. The IPPI does not reflect what the consumer pays. Unlike the Consumer Price Index, the IPPI excludes indirect taxes and all costs that occur between the time a good leaves the plant and the time the final user takes possession of the good. This includes transportation, wholesale and retail costs.