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Corporate London teams up with Nokee Kwe to help meet economic reconciliation goals

London business owners looking to hire and diversify their workforce are being encouraged to consider Indigenous employees as an act of reconciliation that organizers say will also be good for the bottom line.

A new program, led by the non-profit employment skills centre Nokee Kwe and supported by the London Chamber of Commerce, hopes to address two issues identified by employers: staff shortages and cultural representation in the workplace.

“Let’s not just envision an inclusive workplace, let’s become that change,” said Sharon Deebrah, the project manager for the First Employ Project for Business Reconciliation. “Collaborating and networking is the key to economic development.”

The corporate sector was called upon in the Truth and Reconciliation Commission to actively engage in reconciliation practices, including ensuring Indigenous peoples have equitable access to employment and training.

“Sadly, businesses across the country have not stepped up to their moral obligation under the TRC regulations,” said Graham Henderson, CEO of the London Chamber of Commerce.

“We were dismayed to see from a recent study that 31 per cent of businesses do not think that the calls to action applies to them. They thought it was only personal.”

Henderson said of the steps toward reconciliation that have been taken, including land acknowledgements and sharing educational resources, economic reconciliation remains a missing piece.

He hopes by connecting Chamber of Commerce members and others in corporate London to Nokee Kwe’s project, business leaders in London will have an easier time hiring and supporting Indigenous employees.

“Folks want to do this. They just don’t really understand how to do this,” Henderson said.

The first order of business for the First Employ Project for Business Reconciliation is to conduct a survey with employers to understand where they’re at and what they want to know. After that, the data will be used to create recruitment and retention materials.

“I’m very optimistic about this. This is a changing culture and people are far more open to learning after learning the details of the residential schools. People are interested in opening their doors to our community,” Deebrah said.

She said more information for getting involved will be coming soon.

LISTEN: Nokee Kwe organizers and the CEO of the Chamber of Commerce explain the goals

London Morning10:14How can businesses attract and retain Indigenous talent?

The Nokee Kwe London Employment and Education Centre is launching a new project to help local businesses attract and

Opinion: Why business needs the humanities: Focusing on STEM degrees has its own economic cost

Students and pedestrians walking along Gould St. on the Toronto Metropolitan University campus on Jan 22.Fred Lum/The Globe and Mail

Ira Wells teaches in the Vic One program of the University of Toronto.

Imagine you are 17 years old and bound for university. You were born in 2006, two years before the economic meltdown. You are smart, industrious and, if we’re being honest, a little freaked about the future. Your life has played out against the drumbeat of disruption, economic precarity, skyrocketing real-estate prices, a youth mental health crisis and a global pandemic.

You’ve heard that AI is coming for the jobs. You know a “career,” singular, is a relic of the boomer past. And you know – because this has been drilled into you since entering your first classroom – that STEM skills, especially coding, will be your meal ticket. The humanities – art, literature, philosophy, history – are interesting subjects, sure, but stuff you can explore on your own time (or not). Your parents have probably made this clear.

You are far from alone. According to the American Academy of Arts and Sciences (AAA&S), the traditional humanities subjects of English, history, philosophy and foreign languages and literature amounted to 4 per cent of postsecondary degrees in 2020. At many name-brand American institutions – Tufts, Notre Dame, Boston University – humanities graduates have declined by half since 2012.

According to Rob Townsend, director of the humanities, arts and culture program at the AAA&S, “we’re reaching a kind of existential tipping point for a lot of departments that could lead to their elimination.”

Things aren’t much better in Canada. As a share of all postsecondary students, humanities enrollments have dropped by 50 per cent over the last 30 years, according to data from Statistics Canada. Even as overall postsecondary enrollments have dramatically grown, the humanities have continued to shrink.

“Between 2010-11 and 2020-21, enrollment in humanities was down 27 per cent,” states the 2023 annual report of Higher Education Strategy Associates, “while social sciences increased by 17 per cent, business by 16 per cent, health by 26 per cent, engineering by 43 per cent and science by 47 per cent.”

Traditional thinking once held that the health of the humanities tracked with the economy. Yet as Nathan Heller observed in a much-discussed New Yorker article, “The End of the English Major,” that has

Business insolvencies jump despite stable economic growth

Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow

It’s not easy to find signs of aggregate consumer financial stress in Canada but as BMO senior economist Sal Guatieri points out, there has been a concerning jump in business insolvencies.

“The May data on Canadian insolvencies show growing stress for both consumers and businesses, especially the latter. Consumer insolvencies have largely returned to pre-pandemic norms, and are likely to rise further if interest rates stay high and the jobless rate rises. Of greater concern is that business insolvencies have already overshot 2019 levels at a time of reasonably healthy economic activity. … Businesses showed amazing resiliency during the Great Recession. But they are already under stress even before an expected mild economic slump”

“BMO: “Canadian Businesses Under Pressure”” – (research excerpt) Twitter

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Citi analyst Ephrem Ravi maintains his bullish stance on battery-related commodity prices.

“In order to enable the Energy Transition and meet related customer and government demands, automakers are set to consume dramatically more industrial and battery metals over the coming years … We estimate that the value of automaker industrial and battery metal consumption outside of China may rise by $140bn to $230bn between 2023 and 2030 (+15% p.a), from ~$90bn at present, using spot prices. The bulk of the increase may come from lithium (+$87bn), alongside nickel (+$19bn), copper (+$14bn), and aluminium (+$14bn), assuming broadly unchanged prices from recent levels … We estimate that the value of desired metals hedging from automakers outside of China might quadruple from ~$23bn at present, to ~$80bn by 2030″

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Also from BMO, analyst Sohrab Movahedi calculates that the major banks will be making less profits from basic lending operations.

“The Q2/23 results at the Canadian Banking Segment (making up nearly half of the “Big 6′s” total earnings) marked the first quarter of negative earnings growth since Q4/20, with group earnings down 4% y/y. The 4% y/y decline in earnings is reflective of double-digit revenue growth (NIM [net interest margin] expansion and resilient loan growth) that was more than offset by higher expenses and normalizing PCLs [provisions for credit losses]. The segment’s profitability, as represented by the group’s ROA [return on assets], was down y/y from 128bps to 114 bps (in line with the pre-pandemic average of 114bps), primarily reflecting the negative impact from higher PCLs. Looking ahead, the combination of a slowdown in

Economic reconciliation ‘is everything’ to Indigenous people, business leader says

Indigenous and business leaders came together in Winnipeg on Tuesday to build relationships and share ideas as part of a forum focused on the economy and reconciliation.

More than a hundred business owners, government leaders and representatives of business organizations gathered at the Victoria Inn near the Winnipeg airport for the Southern Chiefs’ Organization’s economic reconciliation business forum.

Among the attendees was Michelle Cameron, who has founded multiple businesses, including Dreamcatcher Promotions and the INAC (Indigenous Nations Apparel Company) clothing store chain.

Reconciliation is central to her success, she told CBC.

“It is everything,” she said. “It is the foundation of how we grow as a community — not just the Indigenous community, but all of us. We all play a part in reconciliation and doing business and moving forward.”

When Cameron started a new business, Dreamcatcher Executive Offices, she turned to another Indigenous business owner to furnish the space.

Darrell Brown owns Kisik Commercial Furniture. He says Indigenous-owned businesses can be just as competitive as others, if given the chance.

“We know how to do business. We’re very good at it. All we need is the door open, and you listen to us and give us a chance, and we’ll show you what we can do.”

Exploring partnerships

True North Sports and Entertainment chief executive Mark Chipman gave the keynote speech at Tuesday’s event.

He highlighted the work his organization is doing in downtown Winnipeg to redevelop the Portage Place shopping centre, across the street from where the Southern Chiefs’ Organization is working to develop the former Hudson’s Bay building.

“I don’t know that one project is can be as successful without the other,” Chipman said in an interview.

“So I think we’ve just got a natural … playground, so to speak, to work together.”

The two organizations haven’t had any detailed conversations about co-operating, but Chipman mentioned their shared goals of creating housing in their respective projects as one possible avenue for collaboration.

SCO Grand Chief Jerry Daniels says companies also need to think about who they have at the top.

“Jamie Wilson [the vice-president of Indigenous strategy at Red River College Polytech] said it best this morning … if you don’t have Indigenous people on your board or on your executive branch of your company, then you’re probably not serious about true reconciliation,” Daniels said in an interview.

Several speakers and attendees spoke about the importance of

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