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How population growth is affecting everything from jobs to housing in the economy

Published Tue, 24 Dec 2024 02:18:00 GMT

OTTAWA — Rapid population growth is challenging economists’ understanding of the economy as they monitor how businesses and consumers are responding to high interest rates.The Canadian economy has outperformed expectations so far this year, avoiding the slowdown many forecasters were anticipating in response to the Bank of Canada’s aggressive rate hikes. The resilience of the Canadian economy prompted the central bank to raise interest rates again last week, saying that the risk of sticky inflation has risen.But a closer look at the numbers shows high population growth is partly responsible for the strong economic results, potentially propping up the housing market at a time when high interest rates are supposed to suppress demand.Here’s how population growth is affecting jobs, growth and the housing market: JobsThe Canadian labour market made a remarkable recovery post-pandemic and continued to add jobs even as interest rates began climbing last year.But much of t...

Stock market today: Wall Street opens higher after cooler reading on inflation

Published Tue, 24 Dec 2024 02:18:00 GMT

NEW YORK (AP) — Stocks are opening higher after a cooler reading on inflation bolstered Wall Street’s expectations for the Federal Reserve to hold off on raising interest rates again this week. The S&P 500 was 0.4% higher in early trading Tuesday, pushing further into heights it hasn’t touched since April 2022. The Dow edged up 50 points, or 0.1%, and the Nasdaq composite rose 0.7%. Stocks have been on a roll amid hopes the economy can avoid a severe recession and inflation will ease. Yields fell in the bond market as traders amped up bets for the Fed to announce no change to interest rates on Wednesday. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.Wall Street inched modestly higher early Tuesday after new data showed that consumer prices in the United States cooled last month, though some underlying price pressures remained elevated.Futures for the S&P 500 ticked up 0.4% before the bell Tuesday, while the Dow Jones Industrial Average rose 0.2%. Oil price...

Suspect sought for death threats, brandishing weapon in North York

Published Tue, 24 Dec 2024 02:18:00 GMT

Toronto police are looking for a suspect who allegedly made death threats towards someone while armed with a knife in North York.Officers responded to a high-rise apartment building in the area of Yonge Street and Finch Avenue around 9 p.m. on Monday.It is alleged two people became involved in an argument at the building when one man made a death threat towards the other individual. The suspect then allegedly displayed a knife.The suspect fled the area before officers arrived.Police are looking for 23-year-old Shayan Gharebabai of Toronto. He is facing four charges including threatening death.Gharebabai is described as five-feet eight inches tall and 160 lbs, with black braided hair. He was last seen wearing a grey hoodie and grey pants.Anyone with information is being asked to contact police.

Poland seeks ally in Greece in campaign for World War II reparations

Published Tue, 24 Dec 2024 02:18:00 GMT

ATHENS, Greece (AP) — Senior Polish officials Tuesday said they plan to expand a campaign to seek massive World War II reparations from Germany, turning to Greece and other European countries as potential allies.Poland last year formally demanded compensation of $1.3 trillion — an amount close to the size of its annual gross domestic product — while Greece is seeking more than $300 billion for damage incurred by occupying Nazi Germans during World War II.Germany says damage claims were settled in the aftermath of the war, but Arkadiusz Mularczyk, a deputy Polish foreign minister, said Tuesday that his government in Warsaw would collaborate with other countries that suffered under Nazi occupation.“Countries, individually, have failed to find justice for the victims … Therefore, we must work together to seek justice,” Mularczyk told a conference on reparations, held in Athens and co-organized by the Polish Foreign Ministry.“The harm and losses are incontestable,” he said. “The d...

US lawmakers ask Biden Administration to punish South Africa for alleged support for Russia

Published Tue, 24 Dec 2024 02:18:00 GMT

CAPE TOWN, South Africa (AP) — A bipartisan group of U.S. lawmakers wants the Biden Administration to punish South Africa for what they call its support for Russia’s illegal invasion of Ukraine by relocating an important trade meeting to another country, according to a letter published Tuesday in The New York Times.The lawmakers also said that South Africa’s “aid” for Russia, including allegedly supplying Moscow with weapons for its war in Ukraine, calls into question its eligibility to receive trade benefits from the U.S. under the African Growth and Opportunity Act. South African Foreign Ministry spokesman Clayson Monyela said Tuesday in a statement that the U.S. lawmakers’ letter had been “noted” but South Africa still “enjoys the support of the U.S. government” for its hosting of the AGOA meeting.South Africa’s exports to the U.S. through AGOA were estimated at $3 billion last year. The U.S. is South Africa’s second-biggest trade partner behind Chin...

5 teens injured after stolen vehicle crashes into fire hydrant on South Side

Published Tue, 24 Dec 2024 02:18:00 GMT

CHICAGO — Five teenagers were injured after crashing into a fire hydrant with a stolen vehicle on the city's South Side, according to police.Four girls and a boy were traveling in a Chevy sedan at a high-rate of speed in the 6900 block of South Lowe Avenue, when they crashed into a fire hydrant around 3:15 a.m. Tuesday, police said.Authorities said a 14-year-old girl was transported to Comer Children's Hospital in critical condition, a 13-year-old girl was transported in stable condition to Stroger Hospital, a 14-year-old boy was transported in stable condition to Stroger, a 14-year-old girl was transported in stable condition to Comer Children's and a 13-year-old boy was transported in stable condition to Comer Children's. 11 people shot in downtown Denver after Nuggets win NBA Finals Police said the car the teens were in was reported stolen.A weapon was recovered at the scene. The incident is under investigation. No further information has been provided at this time.

Migrants expected to move from YMCA to Daley College after delays

Published Tue, 24 Dec 2024 02:18:00 GMT

CHICAGO — Final plans are being made to transfer some migrants from the city's North Side to the Southwest Side. Migrants staying at the closed down YMCA in West Ridge will be transferred to Daley College to make way for those staying at police stations.However, not all of the migrants are OK with this plan. They have been housed at the YMCA at Touhy and Western since last fall.The YMCA shut down back in 2021, but has been set up to house the migrants who need shelter. Migrants move to Daley College further delayed There is a family who's daughter has been able to attend school in the neighborhood. But Tuesday, that could all change as the migrants are set to be moved to Daley College on 76th and Pulaski.The move has been postponed multiple times since Friday.WGN News reached out to Mayor Brandon Johnson's office Monday, asking why not just move migrants from the police station to Daley College — but have not yet heard back.

North Central College football, U. of Chicago men's soccer are honored at White House for titles

Published Tue, 24 Dec 2024 02:18:00 GMT

WASHINGTON D.C. — A pair of local national championship teams got to have their moment at the White House in a first-time celebration of the achievements of college athletes around the country. The North Central College football team and University of Chicago men's soccer team, both champions in Division III, were among those honored at "College Athlete Day" in Washington D.C. There were 47 championship teams from 19 different collegiate sports across the three divisions of the NCAA at the event, with over 1,000 athletes taking part in the ceremony. Vice President Kamala Harris spoke to the group as a whole, doing so in place of President Joe Biden, who couldn't participate due to a root canal."You demonstrate teamwork and character. You make the people around you better in every way," said Harris to the athletes in her speech. "You are leaders. You are role models, and, of course, you are champions. Kara Kots/North Central CollegeKara Kots/North Central CollegeKara Kots/North Centr...

El Niño could mean the hottest year on record, meteorologists warn

Published Tue, 24 Dec 2024 02:18:00 GMT

(NEXSTAR) – With El Niño arriving earlier in the year than usual, meteorologists are warning things could heat up even more this summer. In the past, a strong El Niño has led to record global warmth, like in 2016 and 1998. The reason lies within the definition of an El Niño. An El Niño is a natural, temporary and occasional warming of part of the Pacific that shifts weather patterns across the globe. With El Niño starting before summer even officially begins, there's a lot more heating up on the way as El Niño grows toward its usual peak in winter. El Niño officially arrives early: What it means for 2023 weather “The global oceans are very warm right now and I’m afraid that this is putting us into territory that we don’t have much experience with,” said National Weather Service meteorologist Michelle L'Heureux in an interview with Axios. The last "super" El Niño, from 2015 to 2016, coincided with the hottest year on record. It's not yet clear how strong the 2023 El Niño will...

CPSC warns 1 portable generator can release as much carbon monoxide as hundreds of cars

Published Tue, 24 Dec 2024 02:18:00 GMT

(KXAN) -- The Consumer Product Safety Commission is reminding people carbon monoxide poisoning from portable generators doesn’t just happen during the winter months. Summer storms can also knock out electricity, causing some people to use a generator for power.“We want to let people know that the risk of carbon monoxide poisoning increases in those summer months with those power outages,” said Patty Davis with the CPSC.More than 150 people in the United States die every year from accidental non-fire related CO poisoning, and some of those deaths are associated with generators. A new study from the commission is raising awareness about the odorless invisible killer."Our new report shows about 100 people die every year from carbon monoxide poisoning from portable generators,” said Davis. “If you look back over the last decade, about one in four of the deaths with generators from CO poisoning are African American.”The Commission is urging people to buy a carbon monoxide detector and wa...