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Canada’s economic growth projected to be about 1% in the first half of 2024

Canada is a country with a thriving Jewish community and has traditionally offered the security of a strong economy for residents. The national economic outlook is naturally something that everyone in Canada’s Jewish community keeps track of – especially those involved in business in the various provinces.

With this in mind, the July 2023 Monetary Policy Report from the Bank of Canada made for interesting reading, projecting a moderate economic growth figure of around 1% for the first half of 2024. This is in line with growth figures that had been forecast for the second half of 2023, and sees the country’s economy remain on a stable footing.

Steady projected growth for first half of 2024

Although projected economic growth of around 1% in early 2024 is not as impressive as figures of around 3.4% in 2022 and 1.8% in 2023, it is certainly no cause for alarm. But what might be behind it?

Higher interest rates are one major factor to consider and have had a negative impact on household spending nationally. This has effectively seen people with less spending power and businesses in Canada generating less revenue as a result.

Interest rate rises have also hit business investments nationally, and less money is being channelled into this area to fuel Canada’s economic growth. When you also factor in how the weak foreign demand for Canadian goods and services has hit export growth lately, the projected GDP growth figure for early 2024 is understandable.

Growth in second half of 2024 expected

Although the above may make for interesting reading for early 2024, the Bank of Canada’s report does show that economic growth is expected to pick up in the second half of the year. This is projected to be due to the decreasing effect of high interest rates on the Canadian economy and a stronger foreign demand for the country’s exports.

Moving forward from this period, it is predicted that inflation will remain at around 3% as we head into 2025, and hit the Bank of Canada’s inflation target of 2% come the middle of 2025. All of this should help the country’s financial status remain stable and prove encouraging for business leaders in the Jewish community.

Canada’s economic growth mirrors iGaming’s rise

When you take a look at the previous growth figures Canada has seen and also consider the growth predicted for 2024 (especially in the second half of the year), it is clear that the country has a vibrant, thriving economy.

This economic growth is something that can be compared with iGaming’s recent rise as an industry around the country. In the same way as Canada has steadily built a strong economy over time, iGaming has transformed itself into a powerful, flourishing sector.

This becomes even clearer when you consider that Canadian iGaming has been a major contributor to the sustained growth seen in the country’s arts, entertainment and recreation industry, which rose by around 1.9% in Q2 of 2023. The healthy state of online casino play in Canada is also evidenced by how many customers the most popular casino platforms attract and how the user experience these operators offer has enabled iGaming in the country to take off.

This, of course, is also something that translates to the world stage, where global iGaming revenues in 2023 hit an estimated $95 billion. iGaming’s global market volume is also pegged to rise to around $130 billion by 2027. These kinds of figures represent a sharp jump for iGaming worldwide and show how the sector is on the ascent.

Future economic outlook for Canada in line with global expectations

When considering the Canadian economic outlook for 2024, it is often useful to look at how this compares with global financial predictions. In addition to the rude health of iGaming in Canada being reflected in global online casino gaming, the positive economic outlook for the country is also broadly in line with expectations for many global economies.

Global growth is also predicted to rise steadily in the second half of 2024 before becoming stronger in 2025. This should be driven by the weakening effects of high interest rates on worldwide economic prosperity. With rate cuts in Canada already expected after Feb 2024’s inflation report, this could happen in the near future.

The performance of the US economy is always of interest in Canada, as this is the country’s biggest trading partner. Positive US Q2 performances in 2023, powered by a strong labor market, good consumer spending levels and robust business investments, were therefore a cause for optimism. As a US economy that continues to grow is something that Canadian businesses welcome, this can only be a healthy sign.

Canada set for further growth in 2024

Local news around Canada can cover many topics but the economy is arguably one of the most popular. A projected GDP growth figure of around 1% for Canada’s economy shows that the financial state of the country is heading in the right direction. An improved financial outlook heading into the latter half of 2024/2025 would make for even better reading, and the national economy should become even stronger.

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As Conservative rabbis, we’re rethinking our communities’ policies toward interfaith families

(JTA) — As Conservative/Masorti rabbis, we see firsthand the joy of couples building a life together in the Jewish community, and the pain of those who feel shut out because one of them is not Jewish.

We think of the community member, though not Jewish, who developed a profound love for davening (prayer) and Torah study, and has supported his children’s and grandchildren’s Jewish education and observance of mitzvot. We think of another community member who faithfully drove her four children to Hebrew school for years and, after her youngest child’s bat mitzvah, chose to convert to Judaism herself.

It is time for our halacha, or Jewish law, to address issues facing intermarried couples and families robustly.

The two of us had the honor of joining colleagues in co-authoring a teshuvah — a rabbinic response to questions of Jewish law — that does just that. The Rabbinical Assembly’s Committee on Jewish Law and Standards has approved a teshuvah that seeks to honor these couples and families and their commitment to Jewish life in our congregations and communities.

Since we are part of a movement that balances a commitment to halacha with the realities of modern life, our work is grounded in traditional Jewish texts, laws and principles while also reflecting the core belief that welcoming others and extending hospitality are essential Jewish values.

Based on halacha and Jewish tradition, the teshuvah affirms the longstanding standard of Conservative/Masorti rabbis that clergy may officiate only at weddings where both partners are Jewish. It emphasizes that while a wedding is a significant moment that often singularly drives these conversations, there are many other important life-cycle moments that rabbis can offer as occasions for Jewish celebration and reaffirmations of commitment to mitzvot.

Through this teshuvah, we formalize a public mishebeirakh (blessing) before or after the wedding day for a couple committed to building an exclusively Jewish home, as well as a hanukkat habayit ceremony to dedicate their home.

We welcome non-Jewish parents on the bimah during their children’s b’nei mitzvah and offer “mazal tov” and other basic gestures of inclusion to intermarried couples, both of which were once considered unacceptable. Our goal in doing so is to inspire the couple and family to grow in Jewish living.

We affirm that synagogues may not hire intermarried individuals as clergy but may hire intermarried individuals for other roles, and that rabbis may officiate at funerals for non-Jewish family members and support a Jewish mourning process when a non-Jewish loved one dies.

It’s been about 40 years since the Committee on Jewish Law and Standards, which sets halachic policy for our movement internationally, broadly addressed questions around intermarried couples and families. We have learned over time that those intermarried couples who choose to embrace Jewish life are integral to the fabric of Conservative/Masorti communities.

We invite these couples to engage meaningfully in Jewish practice at home and in community, and, if they are having children, to raise them as Jews. Sometimes they may even choose to convert to Judaism at some point.

We do so because, as rabbis, we enjoy the privilege of being invited into people’s lives, and our role is both pastoral and educational. As people figure out their own identities and relationships, our role is to help them integrate Jewish tradition. As couples turn toward each other and seek to integrate Judaism into their lives, we are here to help them chart a course and to bring Torah into the conversation and observance of mitzvot into their lives.

We aim to inspire the couple to grow in Jewish living, observing mitzvot, studying Torah and searching for God in daily life. To do so, we must create gateways so everyone can find a place to learn and find joy and inspiration in our traditions, within the boundaries of halachic standards and principles.

Many of the practices in the teshuvah are already in place in some communities. Some offer solutions that speak most directly to realities in North America, and we call on local rabbis to interpret them in light of the circumstances in their local communities.

In the days of the Mishnah and the Talmud, when faced with new and challenging circumstances, our rabbis found creative and often beautiful solutions to embody the Torah as they understood it. As we follow in their footsteps, we use the wisdom we have inherited to both uphold and transform those values and honor the halachic principles that are central to our rabbinates and communities.

The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of JTA or its parent company, 70 Faces Media.

The post As Conservative rabbis, we’re rethinking our communities’ policies toward interfaith families appeared first on The Forward.

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I was a reluctant Yiddishist. Here’s what converted me.

I couldn’t understand my peers’ embrace of Yiddish culture. Now I’m fascinated –– by the world evoked in Yiddish music and literature, and the leaders of its revival. My conversion began at Yidstock: a Festival of new Yiddish Music.

 

The post I was a reluctant Yiddishist. Here’s what converted me. appeared first on The Forward.

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Mamdani confronts backlash over exclusion of Jewish lawyers from judicial panel

Since taking office in January, Mayor Zohran Mamdani has shrugged off criticism from Jewish organizations over his opposition to Israel and Zionism. But new allegations that his administration excluded Jewish lawyers from a key City Hall appointments committee appeared to strike a nerve — getting directly at how he is governing New York City.

“The suggestion that there would be any decision-making motivated by religion, it does bother me,” Mamdani told reporters on Wednesday. “This is a city that is beautiful because of the breadth of diversity of those who call it home, and that includes the Jewish community across the five boroughs.”

On Monday, a coalition of New York City’s Jewish bar associations circulated a letter accusing Mamdani of excluding Jews from his appointees to the city’s 18-member Advisory Committee on the Judiciary. New York City has the largest Jewish population in America, and Jews are heavily represented in the legal profession.

The critics suggested that the absence of Jewish attorneys on the judicial advisory committee follows a “troubling pattern” that has left many Jewish New Yorkers “feeling increasingly marginalized.” The letter also pointed out that the rejection of retired Appellate Division Justice John Leventhal during the vetting process was “disconcerting” given the lack of outreach to other Jewish lawyers.

Mamdani forcefully denied suggestions that religion played any role in assembling legal experts for the committee. “I did not ask for the religion of each of the person that was put forward,” he said on Wednesday.

Mamdani’s press secretary, Joe Calvello, said that Leventhal was rejected after the vetting team found that he served on the legal team of Ghislaine Maxwell, a socialite who was sentenced for helping late sex offender Jeffrey Epstein. Calvello also said that Mamdani “had the privilege of appointing a dozen qualified judges from a range of backgrounds, including Jewish judges.” In January, Mamdani appointed three new judges. Another nine, including those referenced as being Jewish, are sitting judges whose original appointments were made under previous administrations.

That explanation became the centerpiece of Mamdani’s defense Wednesday. “The thing that matters most to me is that in the judges that have been appointed and reappointed, that they do reflect that diversity of New York City, and that diversity includes Jewish New Yorkers,” he said.

Why this controversy is different for Mamdani

The exchange with two reporters at Wednesday’s press conference, who questioned him about the appearance of excluding Jewish lawyers, reflected a different political challenge than the one Mamdani has faced for much of his first six months in office.

Mamdani has clashed with Jewish organizations that have largely centered on foreign policy or how to define antisemitism related to anti-Zionist activity.

His Day One repeal of the International Holocaust Remembrance Alliance definition of antisemitism, labeling Israel’s war in Gaza a genocide, support of boycotts, production of a Nakba Day video commemorating the displacement of Palestinians during Israel’s founding in 1948, response to pro-Palestinian protesters outside synagogues hosting an Israel real estate sale, pledge to seek the arrest of Israeli Prime Minister Benjamin Netanyahu if he visited New York, and most recently his call for protests against Netanyahu’s expected visit to the United Nations alienated much of New York’s organized Jewish community. But they reinforced Mamdani’s standing with his progressive base and the pro-Palestinian movement that helped propel him into office.

The judicial committee controversy is different. It raises questions about Jewish representation within his own government and whether the country’s largest Jewish community is being included in an influential legal panel.

It also follows questions earlier this year about the administration’s outreach to the Jewish community. Mamdani’s Jewish American Heritage Month reception at Gracie Mansion in May drew few leaders from mainstream Jewish organizations, after many declined invitations amid ongoing tensions over the mayor’s handling of antisemitism and Israel. The guest list reflected stronger ties with progressive Jewish groups, anti-Zionist activists and Hasidic leaders.

Wednesday’s response showed that Mamdani sees this as a different kind of political challenge. Unlike criticism over Israel, accusations that Jews are being left out of his own administration strike at the inclusive image he has tried to build as mayor.

The post Mamdani confronts backlash over exclusion of Jewish lawyers from judicial panel appeared first on The Forward.

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