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African Nova Scotian Business Development Supported

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first_imgThe province is continuing to support the growth of African-Nova Scotian businesses with another year of funding to the Black Business Initiative (BBI). The Office of Economic Development is putting $500,000 to work in the BBI in 2005-06. The province has invested $4.85 million in BBI since its inception in 1996. “For the last decade, the Black Business Initiative has showcased the success of African Nova Scotian businesses,” Wayn Hamilton, interim executive director of African Nova Scotian Affairs, said today, June 17, on behalf of Ernest Fage, Minister of Economic Development. “The province is proud to be a supporter.” Research shows that the number of businesses owned by Black entrepreneurs grew by 40 per cent between 1996 and 2001, the period during which the BBI was getting established. Figures also show that BBI investments have led to nearly 500 full- and part-time jobs throughout urban and rural Nova Scotia. The organization is also forging links with the broader business community throughout the province. To date, they have established working partnerships with the Greater Halifax Partnership and Blue Water Community Business Development Corporation in rural Halifax Regional Municipality. This year, the BBI raised another $100,000 under its Community Economic Development Investment Fund, bringing the fund total to $240,000. The first investment under the fund has gone to a Halifax-area recycling firm, the Bin Doctor. “We appreciate the continuing investment of our funding partners and believe these commitments recognize the positive contribution the BBI is making to business-development and job-creation among African Nova Scotians,” said Rustum Southwell, executive director of the BBI. The federal government, through ACOA, also continues to be a major funding partner of the BBI.last_img read more

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Applications for US unemployment aid rise to 6month high

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Applications for US unemployment aid rise to 6-month high by Christopher S. Rugaber, The Associated Press Posted Jan 21, 2016 6:35 am MDT Last Updated Jan 21, 2016 at 10:00 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email WASHINGTON – The number of people seeking unemployment benefits rose last week to the highest level since July, though applications remained at historically low levels.THE NUMBERS: Weekly applications for unemployment aid rose 10,000 to a seasonally adjusted 293,000. The four-week average, a less volatile measure, increased to 285,000, the highest since April. The number of Americans receiving aid has fallen nearly 9 per cent in the past year to 2.2 million.THE TAKEAWAY: The applications figure remains below 300,000, where it has stood since last March. That is a low level that points to few layoffs. Yet it has increased nearly 10 per cent in the past month. The rise could reflect volatility in the data after the winter holidays, when many temporary retail employees are laid off. The government adjusts the figures to reflect those seasonal trends, but isn’t always able to do so perfectly.KEY DRIVERS: Global financial markets have plunged since the year began over fears that world economic growth is slowing by more than most analysts expected. A sharp plunge in oil prices has also unnerved investors, who see it as a potential sign of slower growth.Applications for unemployment aid are a proxy for layoffs and can indicate whether businesses are sufficiently nervous about the economy to cut jobs. Some companies have announced job cuts in recent weeks, including Johnson & Johnson, Regions Bank and Aeropostale.Last week’s rise in applications “is not a big move, but it is enough to be concerning,” said Jim O’Sullivan, an economist at High Frequency Economics. “The data are starting to suggest some slowing. Claims will be very important to watch in coming weeks.”BIG PICTURE: Even with all the gloom in financial markets, consumers are still willing to splash out on restaurant meals, autos and travel, providing crucial support to the economy. That is helping to offset the impact of a strong dollar and slower overseas growth, which has hurt manufacturers.So far, most economists expect the U.S. economy to continue growing this year, though at a slow pace, despite the headwinds from overseas. FILE – In this May 30, 2013, file photo, job seekers line up to talk to recruiters during a job fair held in Atlanta. On Thursday, Jan. 21, 2016, the Labor Department reports on the number of people who applied for unemployment benefits a week earlier. (AP Photo/John Amis, File) read more

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