The markets up, the markets down. You listen to economists and you hear about recession and will the Fed raise rates or hold. Large technology firms are laying people off by the thousands but electrical distributors and manufacturers cannot find people. Electrical product supply chains have gotten better but you then hear of the transformer and switchgear / control companies with 50+ week backlogs.
Employment rose by 108,000 (+0.6%) in October, recouping losses observed from May to September. The unemployment rate held steady at 5.2% in October. Employment rose in several industries, led by manufacturing, construction, and accommodation and food services. At the same time, it fell in wholesale and retail trade, as well as in natural resources.
In the Electricity Supply Plan 2023-2032 (in French only) that it filed with the Régie de l’énergie, Hydro-Québec anticipates an increase of 25 terawatthours (TWh) or 14% in Québec’s electricity demand over the 2022-2032 period.
Recently, Hydro One announced it has opened applications for its Energizing Life Community Fund. Charitable organizations, Indigenous communities and municipalities across Ontario are invited to apply to receive $25,000 in funding towards initiatives that promote physical, psychological and emotional wellbeing.
Ontario Power Generation (OPG) welcomes the latest clean energy initiatives by the Federal Government outlined in the Fall Economic Statement, including the proposed investment tax credit that would benefit Small Modular Reactors (SMRs) and other forms of clean energy technology including hydroelectric, hydrogen, and pumped storage.
On September 22, 2022, Electro Federation Canada hosted the annual Economic Forecast Day. The financial markets are experiencing a complex and concerning economic condition, unlike anything we have experienced in the past few years, with inflation running at 40-year highs.
AD associates participated in a giving back event on October 5 supporting Ryan’s Case for Smiles, a volunteer organization dedicated to helping children and their families manage the stress and emotional impact of illness.
Ouellet Canada is delighted to announce that the scholarship offered by Electro-Federation Canada in partnership with Ouellet Canada has been awarded to Ms. Kim Leboeuf, a student at Université de Sherbrooke. For the last four years, Ouellet has contributed to this scholarship program, which aims to support a university or college student with their education and help them fulfill their career goals.
November 9, 2022 The total value of building permits in Canada fell 17.5% in September to $10.2 billion, the largest recorded monthly decline. This was the first time all survey components posted monthly decreases since September 2019. Both the residential (-15.6% to $7.0 billion) and the non-residential (-21.5% to $3.2 billion) sector posted declines. On a constant dollar basis (2012=100),…
Wesco International has recently announced its results for the third quarter of 2022. “Our third quarter results provide demonstrable evidence of the substantial value creation capability of the new Wesco. We once again set new company records for margin, profitability and backlog, and further reduced our leverage ratio in the third quarter,” said John Engel, Chairman, President and CEO.
Today’s reality: 89% of B2B buyers say they have made an online purchase since March 2020. 97% of online buyers experience some sort of pain point during the e-commerce purchasing process. 85% of B2B Buyers will move to an alternate competitor’s site if their distributor’s digital channel can’t keep up. Source: Avionos 2022 B2B Buyer…
According to their 2022 Third Quarter Sales report, Rexel benefited in the third quarter from solid underlying markets as well as accelerating demand for electrification, driven by the high price of energy, especially in Europe. These results and trends enabled Rexel to upgrade their full-year targets for 2022, which should be another record year, both in sales and profitability.
AD is reporting member sales of $55.8 billion across 14 divisions in the first nine months of 2022, an increase of 26%. Same-store sales increased 22% through nine months. Purchases by member companies from AD suppliers are up 27% to $15.2 billion. Net distributions to AD members increased by 38% to $924.5 million.
Rittal’s annual ‘Women in Tech’ Scholarships are important as they recognize that women have a vital contribution to make in the fields of Science, Technology, Engineering and Mathematics (STEM) fields. Rittal Systems Ltd. is pleased to have pioneered this scholarship in 2019, and continues to award the Electro-Federation Canada ‘Women in Tech’ Scholarship annually, to deserving women to help them to pursue their dreams in the Electrical Industry.
Schneider Electric has recently published the third quarter results of its sustainability impact target for 2025, with a score of 4.54 out of 10. These results provide further evidence of the company’s long-standing commitment to sustainability and reflect its leadership and positive impact in tackling climate change.
Hubbell Incorporated recently reported operating results for the third quarter ended September 30, 2022. The Company is reporting its diluted earnings per share data and adjusted diluted earnings per share data on a continuing operations basis.