The Peak

Exciting News! 🎉 The Bet On Canada Summit is back in Calgary and Toronto this fall! Join us for a 1-day summit featuring Canada's brightest minds in business, tech, and finance. Don't miss out on early bird tickets—only 50 are available for each city! 📅 Calgary: Sep 17, 2024 📅 Toronto: Nov 5, 2024 Meet future mentors, learn from top leaders, and generate valuable leads. Get your tickets now at the link in the comment section. 🎟

Young Canadians need more than a LinkedIn premium account to land a job these days. ▪ The unemployment rate for Canadians aged 15-24 rose to 13.5% last month, the highest rate seen since 2014 — not counting the pandemic. The employment rate among university students looking for summer jobs is currently the lowest since 1998. ▪ Not only has the economy slowed in recent months, but the job market hasn’t absorbed all the new job seekers after years of record-setting population growth. That mismatch leaves students and young graduates with a dwindling number of job prospects. Read more here: https://lnkd.in/gYFBx9sR

Albertans are betting in record numbers this week that the Edmonton Oilers will pull off the next-to-impossible: four straight wins to take home the Stanley Cup. ▪ Ontario is reaping the benefits of legalizing single-game sports betting through private companies back in 2022. According to a new report by iGaming Ontario, the industry contributed $2.7 billion to the province's GDP last year, up 70% from 2022. ▪ Prior to Ontario opening up its gambling market, an estimated 70% of the $1 billion Ontarians wagered was on the so-called grey market, including unregulated sites. Read more here: https://lnkd.in/ga5a4Wkz

Canada’s surge in temporary residents might be, well, temporary. ▪ Temporary residents grew to 6.8% of Canada’s population last quarter, but new data suggests the immigration tide could be cresting. The country added 131,810 temporary residents, which is significantly lower than the record 312,758 seen last year. ▪ Part of this drop was driven by the curtailing of foreign study permits, with the number of temporary residents with such permits falling by 24,594 last quarter. Read more about this here: https://lnkd.in/gwWybT-u

Getting paid six figures to get a city to party more isn’t just a frat bro’s dream; it’s a real job. ▪ Ottawa hired Mathieu Grondin as its first “night mayor” to try and shed its long-standing nickname, “The City That Fun Forgot.” Grondin will be tasked with tracking the nightlife economy performance and leading ambassadors to address community concerns. ▪ Revitalizing nightlife is a pressing issue for cities worldwide, and many Canadian cities have unveiled plans to boost nocturnal revelry. Find out more here: https://lnkd.in/gjXKiC92

The latest jobs numbers show a growing number of Canadians struggling to find full-time work. ▪ The ‘involuntary’ part-time employment rate — the share of part-time workers who could not find a full-time job or who worked part-time because of poor business conditions — hit 18.2% in May, up nearly three percentage points from the same time last year. ▪ Last month, the economy lost 36,000 full-time jobs but added 62,000 part-time positions. More on this here: https://lnkd.in/gc37UMfx

It may have taken more than 170 years for Simons to expand beyond Québec, but ever since opening in the West Edmonton Mall back in 2012, the retailer has been on a roll. ▪ Simons, one of Canada’s oldest department stores, is spending $75 million to open two stores in Toronto this fall, taking over shuttered Nordstrom locations a little over a year after its CEO said there was no “path to profitability” in Canada. ▪ Other brands, like Ted Baker, The Body Shop, and Bed Bath & Beyond, have closed stores or left Canada in recent years, but many more are choosing to lay roots. Read more here: https://lnkd.in/gQusJ7WQ

In the days leading up to the Stanley Cup Final, Prime Video has announced it’s launching a new NHL docuseries. ▪ While it likely won’t include a behind-the-scenes look into the feud between John Tavares and the CRA, you’ll get to see some of hockey’s biggest — and famously uncharismatic — stars on and off the ice. The show doesn’t have a title yet, kind of like the Leafs in the last five decades. More on this here: https://lnkd.in/gPManX9A

In track and field, nothing inspires elite athletes more than the chance at eternal glory… though $150,000 could prove even more inspiring. ▪ World Athletics, the global track and field body, plans to launch a new global athletics competition in 2026 called the Ultimate Championships. It will pay medallists money from a US$10 million pot, with gold medallists raking in a record prize of $150,000. ▪ Earlier this year, World Athletics announced that track and field will be the first Olympic sport to pay prize money to gold medallists at this year’s games. Read more here: https://lnkd.in/d3dWFuwX

At the Computex conference this week, Nvidia previewed a new generation of chips. That's something it plans to do every year to hold on to its 80% share of the AI chip business — while the likes of AMD and Intel debuted their own new silicon to try and keep up. But Canadian startups aren’t letting that keep them from finding a place in the chip market. 👉 Read the full story on Peak Tech: https://lnkd.in/gvUZJWRC