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While employment for people aged 55 and over fell by 51,000 (-1.2%) last June for the first time since April 2021, voices are growing that governments should work harder to keep them in the labor market.

• Also read: Quebec labor shortage: many more seniors at work

“The decline in employment was almost entirely due to the decline in the number of workers aged 55 and over,” summarized Statistics Canada in its June 2022 Labor Force Survey released yesterday.

However, in the midst of the labor shortage, the President of the Réseau FADOQ is categorical: even if there are already ways to encourage experienced workers to work, we must redouble our efforts in order not to lose them.

“Governments must continue to think about incentives to retain or reintegrate experienced workers into the labor market as one of the solutions,” argues Gisèle Tassé-Goodman.

broken promises

“In the last election campaign, the Liberal Party of Canada promised to create a career extension tax credit like in Quebec. Since then, however, there has been radio silence,” she complains.

In an interview with The Canadian Press yesterday, the CEO of the Conseil du patronat, Karl Blackburn, expressed his desire to persuade more experienced workers with his project “Seduction of the 60-69 year olds”.

Refundable Credit

More needs to be done, according to Luc Godbout, Research Chair in Taxation and Public Finance at the University of Sherbrooke.

“We need to make the career extension credit refundable and also make contributions to the Quebec Pension Plan optional for taxpayers age 65 and older,” he believes.

He adds that most of the 1.2 million people aged between 55 and 65 actively contribute to the economy.

“The challenge is to maximize the chances that they will continue to do so over the next decade as they age 65 and older,” he concludes.

▶In Quebec, employment fell by 27,000 (-0.6%) in June, the second drop in three months, according to Statistics Canada, which finds the largest falls in natural resources, information, culture and leisure.

He wants to work without being “massacred” by taxes

Photo Francis Halin

Pensioner Daniel Matthys, 61, shows his decisions, which surprises him.

A federal government retiree who works a few hours a week as a teller and clerk doesn’t understand why governments aren’t more generous to retirees whose salaries are being cheated.

“Pensioners around me say to me, ‘Well no, if I go back there, they’re going to massacre me at the end of the year,'” says pensioner Daniel Matthys, 61, when asked if his friends like it when he’s here and there there works .

“I can’t wait for people to say to retirees, ‘You can go to work. We’re not going to stun you on taxes,” he adds.

Last week, Le Journal told the story of seniors returning to the labor market, 12% more than three years ago.

Reading the report, Daniel Matthys felt challenged. He wanted to tell the Journal his story to share the shock he had when his $25 an hour merged into the after-tax minimum wage for the first time.

“I want to pay my taxes, but I don’t want to overpay them at the end of the year because my income will change my tax bracket at a stratospheric level,” stresses the man from Lanaudière.

According to him, “governments want the butter and the money for the butter” by urging seniors to work but waiting for them to pay taxes.

solution mode

While the unemployment rate was 4.3% (+0.1 percentage point) over the past month, Daniel Matthys believes there is an urgent need to switch to solve mode to help workers, not the companies that serve them .

According to Mr. Matthys, we need to be more creative to keep seniors in the workplace.

“Why wouldn’t retirees have a tax exemption on the first $10,000 they earn?” It would take a burden off,” he suggests.

“The other solution would be to have a tax report for my pension and another independent separate one for the job I do,” he says.

At Réseau FADOQ, we believe the current maximum provincial career extension tax credit of $1,650 is positive but insufficient.

“The next Québec election campaign will be a good time for political parties to present their ideas to the Québec people to encourage these workers to remain or return,” concludes Québec President Gisèle Tassé-Goodman.

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Airlines delayed thousands of flights on Friday, leaving passengers waiting at airports across the country.

More than 1,800 flights into, out of and via the United States were delayed as of 2 p.m. ET on Friday, according to flight-tracking website FlightAware. On Thursday, delays across the country totaled more than 5,000, although there were just 279 total cancellations, according to FlightAware data.

The July 4 bank holiday weekend saw a spate of flight cancellations and delays as millions packed airports across the country. Though the holiday rush has eased, US passenger airlines are still delaying dozens of flights.

NO MORE CHEAP FLIGHTS: DOMESTIC TRAVEL PRICES UP OVER 20% OVER PRE-PANDEMIC, SAYS REPORT

A flight is canceled at the Ronald Reagan Washington National Airport departures board in Arlington, Virginia on Wednesday, December 29, 2021 (AP Photo/Alex Brandon/AP Newsroom)

Between Monday and Thursday, airlines delayed 18,999, or 18.5% of flights, according to FlightAware data. During this time, 1.5% of flights were cancelled.

According to Nicholas Calio, President of Airlines for America, it has already been a bleak travel season for the airline industry, which has proactively had to cancel 15% of flights originally scheduled for June through August to make remaining flights more reliable. Airlines for America is the trade association of the country’s leading passenger and cargo airlines.

TRAVEL ON THE FOURTH OF JULY: FLIGHT CANCELLATIONS, DELAYS BEFORE HOLIDAY WEEKEND WILL REMAIN

Calio said its member airlines have also “accelerated robust hiring and training programs across all areas, including flight crew, customer service representatives and airport staff, in addition to increasing salaries for many positions.”

Still, the airlines reported problems during Memorial Day weekend, which marks the start of the summer travel season, and around Father’s Day and the June 16 bank holiday weekend.

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“We appreciate the enhanced coordination with the FAA to address a number of common challenges as we work together to minimize disruption while maintaining the highest level of safety for the traveling public,” Airlines for America said in a statement Friday to FOX Business.

The Associated Press contributed to this report.

CF Montreal return to the Stade Saputo on Saturday night to take on Sporting Kansas City, an opponent not seen since March 2019.

• Also read: Attack and Defense at the Antipodes

So it’s been a very long time since these two teams crossed swords.

In spring 2019, KC added a 7-1 fix to the Montrealers in Missouri.

Defender Rudy Camacho is one of the few survivors of this era and this game has long been forgotten.

“It was three [saisons], it’s a different team and so are we. It’s a different era and it’s going to be a completely different game. »

If you’re looking for Sporting in the Western Conference rankings, you’ll have to turn them on their heads as they sit 14th and last, which is highly unusual for KC, who regularly rank in the top spots.

“Despite the position in the table, it’s a very good team,” warned Samuel Piette on Thursday. They have a good backbone with players who have been there for several years and a very clear game identity. »

Kamal Miller agrees that Peter Vermes’ team shouldn’t be taken lightly.

“Kansas is one of those teams that people see win the trophy no matter what season they play.

“Over the years the team has developed a unique style of play and whichever players come they seem to adapt well to that,” added the full-back.

Hard on the West

We can say that the West teams are giving the Bleu-blanc-noir a hard time this season because Wilfried Nancy’s team is 2-4 against them.

Montreal recently lost to Real Salt Lake and Austin FC at Stade Saputo, so we have to take this game against Kansas City seriously.

Camacho saw nothing different in the game of clubs in the West.

“Coincidentally or not, we didn’t do well against them. But whether it’s east or west, I haven’t seen much of a change. »

bouncing

Above all, it is important for CF Montreal to put on a performance that makes them forget Monday’s 4-0 defeat by the Galaxy in Los Angeles.

“It’s important to recover from a game like this, especially after getting a good result the week before,” said Miller.

This homecoming will also require good negotiation as the team, who have just returned from a two-game trip to America’s west coast where they picked up three points from a possible six, will play three of their next four games at the Stade Saputo .

consistency and balance

Since his eight-game unbeaten streak, Montreal has been playing yo-yo, alternating wins and losses. Miller is aware of the phenomenon.

“It’s hard to find consistency, especially in a team sport and in a league where teams work in sequences.

“We don’t want to be a team that has either a great game or a bad game. To get to the next level you need to be able to find a way to get a result, whether you’re having a good day or a bad one. »

The full-back argues that makes all the difference when it really counts.

“At the end of the season, the teams that stay in the running are the ones that have managed to find some kind of balance and we want to be one of those teams. »

The opponent in 5 points

Bad climax

It’s very rare for Sporting but he tops an unusual category for him in MLS stats. In fact, the team suffered an 11th loss last weekend, the highest total in the league this season.

hard streaks

Since the beginning of the season, Kansas City has had four series with at least two consecutive losses. The side, led by Peter Vermes, have won just one of their last six games and have lost four of their last five games.

Injured persons

If Sporting are struggling this season, it’s partly because several key players are on the injury list. Ozzie Cisneros (hamstrings), Gadi Kinda (knee), Alan Pulido (knee), Nikola Vujnovic (calf), Kortne Ford (concussion) and Graham Zusi (quads) are all absent.

imbalance

Sporting Missouri, who have scored just 16 goals in 19 games, have a significant balance sheet imbalance. And the defense failed with 33 allowed goals.

Double record

This is the first clash between Sporting and CF Montreal since March 2019 when KC inflicted a 7-1 defeat on the Quebec team. To this day, it remains a goal-in-a-game record for the Missouri club and a goals-against-record for Montreal.

Billionaire Elon Musk pulled out of his $44 billion deal to buy Twitter on Friday, citing ongoing disagreements over the number of spam accounts on the platform.

While Musk may want to end his bid for Twitter, legal experts say it’s not as easy as walking away. Instead, Musk likely faces a long court battle with Twitter that could take many months to resolve.

Twitter’s board of directors is in a very difficult position, said Ann Lipton, a professor of corporate governance at Tulane Law School. “You can’t just say, ‘Okay, let’s spare the pain Elon, we’ll let you drop the price $20 a share, or we’ll agree, we’ll agree to walk away if you just pay the billion-dollar break fee . I mean, Twitter just doesn’t have the capacity to do that.

This would risk triggering a lawsuit from Twitter shareholders, she added. Twitter shareholders have already filed lawsuits against the company and Elon Musk himself over the messy deal.

Merger agreements are “very difficult to dig up,” and so far Musk appears to have provided insufficient evidence to support his claims that Twitter lied about its spam numbers, Lipton said.

Meanwhile, Twitter chairman Bret Taylor has already promised that the company’s board of directors will take legal action against Musk.

“Twitter’s board of directors is committed to completing the transaction at the price and terms agreed with Mr. Musk and plans to take legal action to enforce the merger agreement,” Taylor wrote in a tweet.

“We are confident that we will prevail in the Delaware Court of Chancery,” Taylor added, referring to a Delaware court that resolves business-to-business disputes.

Musk signed a legally binding agreement to buy Twitter for $54.20 per share in April. The agreement states that if either party walks out of the deal, they will have to pay a $1 billion breakup fee.

Not long after the settlement was reached, Musk began to indicate he had doubts about the deal. In May, Musk said he decided to put his acquisition of Twitter “on hold” as he evaluated the company’s claims that about 5% of its monetizable daily active users (mDAUs) were spam accounts. Twitter has said it continues to share information with Musk, including sharing his “fireman’s pants,” the daily stream of tweets that flow through the platform.

In a Friday letter, Musk’s attorneys accused Twitter of a “material breach of multiple terms” of the deal agreement and claimed the company had made “false and misleading representations” about the proliferation of fake accounts on its platform.

“There are many reasons to doubt it [Twitter] made such false statements, but let’s assume that wouldn’t actually be grounds for terminating a merger agreement,” Lipton said in an interview.

In order for there to be a “material breach” of the deal agreement, Musk would need to demonstrate that Twitter made false statements that were egregious enough to impact the company’s earnings potential over the long term, Lipton said.

“He has yet to provide evidence that this is indeed the case,” she added.

Twitter appears to have the upper hand as deal drama heads to court, Lipton said. The merger agreement includes a “specific performance clause,” which says Twitter has the right to sue Musk to force him to complete the deal while he still has the debt financing.

In the coming days, Twitter will likely file a lawsuit in Delaware, asking the judge to rule on whether it breached the terms of the agreement, then ordering Musk to “perform its obligations under the contract and complete the merger,” it said Brian Quinn, a professor at Boston College Law School.

Afterwards, Quinn said he expects both parties to continue to present their arguments in court as part of a legal battle that could last a year. “It’s quick for litigation,” he added.

Musk and Twitter could also reach an agreement.

Twitter may agree to a small change in the transaction price of $54.20 per share to avoid litigation, Lipton said. That may not please Twitter shareholders who liked the initial offering. The purchase price represents a premium of 38% over the Company’s closing price of $39.31 on April 1, 2022, the last trading day before Mr. Musk announced his approximately 9% interest in the Company. Shares of Twitter closed at $30.04 on Friday.

It’s unclear what Musk would settle for, Lipton said.

“I don’t know if Musk just wants to deduct a dollar or two from the price per share,” she said. “I don’t think Musk wants the deal or a pretty dramatic price adjustment. So I don’t think the parties are remotely in agreement at the moment.”

• Brent, WTI, is posting a weekly decline after falling in June
• From here the supply shortage is more likely to worsen – PVM
• US job growth beats expectations in June

NEW YORK, July 8 (R) – Oil prices rose about 2% in volatile trade on Friday but were still headed for a weekly decline as investors worried about a possible recession-related fall in demand, even as global fuel supplies remained tight.

Central banks around the world are raising interest rates to tame inflation, stoking fears rising borrowing costs could dampen growth, while mass testing of COVID-19 in Shanghai this week sparked concerns about possible lockdowns that could also hurt oil demand . Continue reading

Brent crude futures were up $2.37, or 2.3%, to $107.02 a barrel. US West Texas Intermediate crude was up $2.06, or 2%, to $104.79 a barrel. Both benchmarks traded in negative territory and then rebounded from session lows.

Brent was down about 4.1% weekly and WTI was down 3.4% after its first monthly decline since November. Prices fell Tuesday as Brent’s $10.73 drop marked the contract’s third-biggest daily decline since trading began in 1988.

US nonfarm payrolls data showed the economy added more jobs than expected in June, a sign of continued job strength giving the Federal Reserve ammunition for another 75 basis point rate hike this month. Continue reading

“The oil market is looking at the jobs report as a double-edged sword,” said Phil Flynn, an analyst at Price Futures Group. “The number of jobs was positive from a demand perspective. On the downside, the market is concerned that the Fed could be more aggressive in raising rates when the labor market is strong.”

U.S. energy companies added two oil platforms this week, bringing the total to 597, the highest since March 2020, said energy services company Baker Hughes Co.

Oil prices rose sharply in the first half of 2022. Brent neared a record high of $147 after Russia began invading Ukraine in February, adding to supply concerns.

“Economic concerns may have roiled oil prices this week, but the market is still sending bullish signals. This is because supply constraints are likely to worsen rather than ease from this point forward,” said Stephen Brennock of oil brokerage PVM.

Western bans on Russian oil exports have supported prices and triggered a diversion of flows, while the Organization of the Petroleum Exporting Countries (OPEC) and allied producers are struggling to meet promised production increases.

Russian President Vladimir Putin has warned the West that prolonged sanctions against Moscow risk triggering “catastrophic” energy price hikes for consumers around the world. Continue reading

Reporting by Stephanie Kelly; additional reporting by Alex Lawler, Florence Tan and Jeslyn Lerh Editing by David Gregorio, Marguerita Choy, David Goodman and Tomasz Janowski

Our standards: The Trust Principles.

CF Montreal presents a beautiful paradox. He has the third worst offense in MLS with 32 goals scored and the third worst defensive record with 33 goals allowed.

• Also read: Rare visit to the stadium

The other paradox is that if you consult the extended statistics, the team appears favorably in the opponent’s expected goals category.

That means it gives few chances to score. And yet in a match like Monday night in Los Angeles, the Galaxy hit the target with each of their four shots.

“We conceded too many goals and it’s annoying,” admitted centre-back Rudy Camacho. We still have a forward playing style. We’re often one-on-one at the back and as soon as we’re not in a block and don’t put the necessary pressure up front, it becomes more complicated. »

A consequence

We can therefore conclude that if the team concedes a lot of goals, it’s because they score a lot of goals. Yes, that’s a somewhat simplified analysis, but it’s still a consequence of the bleu blanc noir’s playing style.

“It’s clear that maybe we would concede fewer goals if we all stayed behind, but we don’t want that and neither do the staff,” insisted Camacho, who doesn’t want the style of training to change.

“We have fun and when it works and everyone is on the same page, we dominate our opponents.

“We at the back, we have to be better. It’s annoying because we put in a good performance overall. »

Mueller is ready

Defenseman Kamal Miller returned to play as a reserve against Los Angeles. Injured, he had missed the three previous duels.

“It was an injury that didn’t limit me very much, so I was able to do a lot of things but I couldn’t function at game speed,” he explained.

Camacho hopes the return of his left partner will stabilize the game in defence, even if his presence alone cannot solve everything.

“If Kamal can bring us some defensive solidity that we don’t have at the moment, all the better. But it’s more of a collective problem. »

Atlanta’s Federal Reserve recently forecast that second-quarter GDP contracted 1.9 percent. If his model proves correct, the US economy will have slipped into recession, with GDP contracting for two consecutive quarters. Whether we’re technically in a recession matters far less than the reality of the recession Americans have been experiencing for months. At that point, Americans will likely endure stagflation as well, given ongoing historical inflation.

The Biden administration’s poor economic policies bear much of the blame. The government and the Democrats in Congress are trying to distract attention from the shrinking economy and galloping prices by pointing to the supposedly strong job market. They argue that the country will not be in recession as long as the unemployment rate stays low. As with so much of what we have heard from this administration, it is simply not true.

On Friday, the Labor Department said the economy added 372,000 jobs in June and kept the unemployment rate at 3.6 percent. President Biden has consistently boasted about the supposed historic job creation under his oversight by acknowledging the people who have returned to work in the wake of the pandemic.

Still, the labor market is not as rosy as the unemployment rate suggests. Despite the V-shaped recovery Biden inherited from President Trump, today there are still over 500,000 fewer people working than before the pandemic.

Nevertheless, employers are desperately looking for employees. There are 11.3 million vacancies nationwide. That’s almost 2 jobs for every unemployed person. This naturally begs the question: why are fewer people working than before the pandemic?

Well, the answer is equally obvious. Not enough Americans are willing to work. The labor force participation rate remains well below its pre-pandemic standard. If labor force participation were the same today as it was when the pandemic began, the unemployment rate would be 5.5 percent. It’s only 3.6 percent because fewer people are working or actively looking for work.

Generous welfare programs expanded during the Covid-19 pandemic help explain this labor market paradox.

For most of 2021, additional federal unemployment benefits and increased child tax credits distributed monthly paid most entrants more to stay at home than to return to work. A June 2021 study by economists at the Committee to Unleash Prosperity found that a family of four with two unemployed parents earned around $72,000 in unemployment benefits, more than the national median household income.

These programs were ended thanks to brave, mostly Republican, politicians who recognized their unintended economic consequences. While these programs were necessary during the pandemic, when state governments were telling people they couldn’t work, their corrosive effects on American work ethic remain. It’s hard to deny that some Americans have apparently gotten used to not working and have chosen to live on what’s left of welfare rather than return to the labor market.

This is not a criticism of people who really need government help. We are a rich nation. We should help those in need, and we do. But the able-bodied should work for the good of society as well as for their own personal benefit, dignity and self-esteem. President Clinton and Newt Gingrich reinforced this notion when they imposed work requirements on welfare recipients to great effect in the late 1990s. It’s a simple notion – if you can work, you should.

Pandemic-era welfare improvements that are still in place have bolstered the current aversion to work ethic. For example, Congress expanded food stamps and removed work requirements to obtain them. The US Department of Agriculture gave states “emergency allocations” of food stamps that continued long after the pandemic emergency ended.

In October, the Biden administration implemented the largest permanent increase in food stamps in the program’s history. The average benefit of food stamps is now almost double what it was in 2019. Unsurprisingly, the number of households receiving food stamps has not decreased significantly since the end of the pandemic.

The public health emergency also allowed states to increase Medicaid enrollments by 20 percent and barred them from removing residents from the program, though many are likely no longer qualified. They cannot do this until the Biden administration declares the public health emergency over.

These welfare expansions add to the smorgasbord of public benefits that unemployed Americans already receive, including unemployment insurance, housing credits, energy subsidies, childcare subsidies, and direct cash benefits. In addition, the federal states offer their own social programs. Together they create a state dependency trap and discourage work.

Employers across the country tell me that their employees routinely make the rational decision to retire — or at least take a break — from work altogether, cushioned by this generous aid.

Again, we should help people who cannot help themselves, as these programs do when properly distributed. But incentives are important, and those who can work should do it.

Congress must immediately scale back those expanded welfare policies, reintroduce associated labor requirements, and reform long-standing programs to help the labor market reach and surpass its pre-pandemic peak — which would help bring down inflation as the Employers would occupy their businesses and replenish the supply chain to allow the economy to recover for the benefit of all.

However, political solutions could be insufficient if we delay action. Employers also tell me about lowered work ethic among a large group of younger Americans today that goes beyond financial considerations. These workers are quick to quit at the first challenge they encounter. They are unwilling to put in the effort to learn and improve. And they routinely turn down shifts and even opportunities to pay overtime. If you think I’m being unnecessarily critical, speak to a local employer.

Fully restoring America’s work ethic is a long-term project. Unfortunately, the country’s economic problems are here and now. If our elected leaders are unwilling to acknowledge the problem, let alone address it, expect the recession to be deeper and longer as a result. If we don’t restore America’s work ethic, much worse can be expected.

Andy Puzder is the former CEO of CKE Restaurants, Chairman of 2ndVote Value Investments and a board member of Job Creators Network.

Kyiv | After four and a half months of war in Ukraine, the Russian army continues its “incessant” bombardment in the Donetsk region (east), and the United States has pledged new military aid to Kyiv, including powerful rocket launchers and precision shells.

• Also read: She trades in her ballet slippers for an AK-47

• Also read: In Eastern Europe, support for Ukrainians is waning over time

• Also read: CAD$8.8 billion worth of Russian assets frozen in Switzerland

“The entire front line is constantly being bombed,” said regional governor Pavlo Kyrylenko on Friday evening. “They keep firing towards Donetsk… Bakhmout is shelled, Sloviansk is shelled day and night, Kramatorsk…” he added on Telegram.

Earlier in the day, Mr Kyrylenko reported a figure of six dead and 21 wounded in 24 hours from the bombing of the region.

According to him, the Russian army is in the process of “regrouping, or rather re-forming, its groups and preparing new actions in Sloviansk, Kramatorsk, Bakhmout.”

In the Kharkiv region (northeast), the country’s second largest city, Russian bombing killed four civilians and wounded nine in a 24-hour period, Governor Oleg Sinegoubov said.

According to a senior Pentagon official, the new $400 million in US military aid — which includes four Himars multiple rocket systems and 155mm shells — will improve Ukraine’s ability to attack weapons depots and the Russian army’s supply chain.

Thanks to the first eight Himars delivered last month, military experts estimated that the Ukrainian army was able to destroy more than a dozen Russian ammunition depots installed behind the front lines in the east of the country.

Washington has already provided $6.9 billion in military aid to Kyiv since the Russian invasion began on February 24.

“Destroy the Harvest”

By laying siege to the Donetsk region, where evacuations of civilians continue, Moscow is attempting to seize the entire Donbass Basin, its strategic goal since withdrawing from near Kyiv in late March.

According to the regional governor, the Russian army has also started burning grain: “There are massive fires in the fields, deliberately caused by the enemy. They try by all means to destroy the harvest. They bomb farm machines, harvesters…” he accused.

Russia’s invasion of Ukraine, considered one of the world’s breadbaskets, has pushed up food prices and contributed to rising global inflation.

On Friday, participants at a G20 ministerial meeting in Indonesia expressed “deep concerns about the humanitarian consequences of the war” in Ukraine, according to Indonesian diplomat head Retno Marsudi.

The effects of the war “are being felt all over the world, on food, energy and budgets,” she said. “And as always, poor countries and developing countries are hit hardest.”

Although the G20 did not unanimously condemn the Russian invasion, Westerners nonetheless believed that they had succeeded in broadening the front against Russia and clearly blaming it for the war and the global energy and food crises it caused.

In the face of the flood of Western condemnations, Russian Foreign Minister Sergei Lavrov left the meeting at midday, which was also attended by his American counterpart Antony Blinken.

It was the first time the two men had been together since the war began in February, but the US Secretary of State refused to meet his Russian counterpart separately and Lavrov replied that Moscow would not follow Washington for talks.