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Statistics Canada Begins Major Workforce Overhaul, Cutting 850 Positions

    Statistics Canada says it will be cutting around 850 of its staff along with 12 per cent of its executive team. Statistics Canada is moving ahead with a major restructuring that will see roughly 850 jobs eliminated , including a portion of its executive ranks. The agency confirmed that it has entered a formal workforce adjustment period, with affected employees set to receive notices over the next two weeks. The cuts are part of a broader federal initiative to reduce public service spending. With more than 7,200 employees as of early 2025, Statistics Canada is among several departments facing significant downsizing as the government seeks long‑term budget efficiencies. Union representatives have raised concerns about the impact on the agency’s ability to maintain the quality and timeliness of national data. Management, however, has emphasized that voluntary departures and early retirement incentives will be used where possible to ease the transition. The announcement m...
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The Perils of Cash Hoarding: Why Canadians Should Invest Now

 


In recent years, Canadians have amassed a staggering $400-billion in excess savings, a figure that represents 13 per cent of the nation’s GDP. This phenomenon, largely a result of the pandemic savings boom and economic uncertainty, has led to a culture of cash hoarding. However, experts warn that the reluctance to invest this cash could be a costly mistake.

The Opportunity Cost of Cash: While the security of a large cash buffer is comforting, especially in tumultuous times, it comes with an opportunity cost. Money sitting in bank accounts or term deposits like GICs is money not growing through investment. With the Dow Jones and S&P/TSX Composite Index showing strong performance, and bond yields moving favorably, the potential for wealth growth through investing is significant.

Investment Strategies: Lump Sum vs. Dollar-Cost Averaging When faced with the decision of how to invest excess savings, research suggests that investing a lump sum immediately is often the best strategy. This approach typically outperforms alternatives such as dollar-cost averaging or waiting for market dips, which can result in missed opportunities and lower returns.

Embracing the Market’s Growth Potential Despite the fear of investing at market highs, history shows that the stock market is a robust engine for growth. Delaying investment in hopes of a better entry point is likely to hinder long-term financial gains. Canadians are encouraged to overcome the psychological barriers of cash hoarding and tap into the market’s proven potential.

In conclusion, while the instinct to hoard cash during uncertain times is understandable, Canadians must recognize the importance of putting their excess savings to work. Investing now, rather than waiting, is a strategic move that aligns with historical data and the principles of wealth building.

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