Getting caught up on a week that got away? Here’s your weekly digest of the Globe’s most essential business and investing stories, with insights and analysis from the pros, stock tips, portfolio strategies and more.to hire more of their staff at low wages
through the Temporary Foreign Worker Program. According to Employment and Social Development Canada, employers in seven designated sectors “with demonstrated labour shortages” can continue to hire up to 30 per cent of their staff through the low-wage stream of the program. The temporary cap, which was set to expire on Oct. 30, now runs to Aug. 30, 2024, Matt Lundy reports.
, according to a new report from Restaurants Canada. Another 17 per cent said they were only breaking even. Why? Restaurateurs say they are facing increasing pressure on their bottom lines because of the rising costs of ingredients, insurance and wages. The aftershocks of the pandemic and inflation are causing an upheaval in the sector, Chris Hannay reports. As a result, restaurant owners are raising menu prices at record rates – but the pace that is still slower than their rising costs.