A new report by the Toronto Region Board of Trade and United Way Toronto expects 500,000 more job positions to open up in the next five years, although not all of them with a contract or benefits. Some of these jobs will be low paying, temporary or contract jobs, the report says. The report forecasts that there will be 271,721 new jobs opening up as well as 248,160 retirements on the horizon.

“There are downward pressures on the labour market, which are effectively displacing youth and newcomers from those positions, which they have traditionally held,” says the Toronto Star report. “The large number of applicants for low-paying and entry-level positions is remarkable. As the number of middle income jobs has continued to decline, a bifurcated labour market of high-income jobs and low-income service jobs is becoming the norm.”

Top in-demand jobs in the Greater Toronto Area were predicted to be retail salespersons, followed by financial auditors and accountants, administrative assistants, retail and wholesale trade managers. The sector that will lose the most jobs is predicted to be the manufacturing sector.

A CreditCards.com report predicts that almost half of Americans will not be shopping at stores that were affected by a data breach recently, such as Target, Neiman Marcus and Home Depot, for the upcoming holiday season.

However, the report showed that households with the highest incomes of $75,000 or above were the least likely to avoid these stores; with a mere 31 per cent stating they wouldn’t shop at these retailers. The report also showed that women are more likely to forgive the data breaches than men.

The use of credit cards for the upcoming holiday season proved to be the most popular option, while 48 per cent of credit and debit card owners state they will pay with cash.

Dr. Luke Bucci, one of the individuals who first brought glucosamine-chondroitin combination products to market in 1991, has joined Novel Ingredient Services as its new Vice President of Product Innovation, reporting to Novel President Peter Bradley.

Dr. Bucci received his Ph.D. in biomedical sciences from the University of Texas Graduate School of Biomedical Sciences. He also holds designations as a Certified Clinical Nutritionist (CCN) and Certified Nutrition Specialist (CNS). Dr. Bucci’s expertise includes new ingredient/product assessment and development and designing research that meets manufacturers’ quality, safety and efficacy standards.

Dr. Bucci brings 30 years of experience to his new role, including his most recent position as Vice President, Research & Scientific Affairs at Renew Life Formulas. Prior to that, he spent 17 years at Reckitt Benckiser, formerly Schiff Nutrition International, as its Vice President, Research, and its Research & Scientific Affairs Specialist.

In his new role, Dr. Bucci will be responsible for identifying, developing and refining novel ingredients while taking charge of the company’s scientific clinical research efforts.

“Luke Bucci is one of our industry’s luminaries,” said Bob Green, Chairman of Novel Ingredient Services, in a press release. “With his leadership and expertise, Novel will be able to bring to market even more ingredients that offer innovation, efficacy and cost-efficiency; develop new technologies; and provide our customers with greater insight into ingredient research.”

According to Wal-Mart CEO Douglas McMillon, the company is working towards upgrading all its workers who earn minimum wage, which amounts to approximately six thousand employees out of the estimated 1.3 million in the U.S. On average, the company pays its employees an hourly rate of $12.92 in the United States, compared to the federal minimum wage, which sits at $7.25.

Wal-Mart is the United States’ largest private employer and often deals with labour activists who argue that it does not pay its employees enough for them to live comfortably.

“…It is our intention over time that we will be in a situation where we don’t pay minimum wage at all,” McMillion said to reporters following an investor conference.

McMillon implied the company may also use promotions and bonus payments to give workers more opportunities, but did not give further details.

According to a new study by Canada’s Patented Medicine Price Review Board (PMPRB), brand-name drug companies are spending a record low on research and development.

The PMPRB’s most recent annual reports show that Canada’s research-based pharmaceutical companies spent only 5.4 per cent of total Canadian revenues on research and development in 2013, the lowest it has been since 1988 when the PMPRB began tracking spending.

“In Canada, market monopolies for brand-name drug companies have increased no fewer than eight times since 1987, yet investments have declined to record lows,” said Jim Keon, president of the Canadian Generic Pharmaceutical Association, in a press release. “This new data provides further proof that no link exists between longer marketing monopolies for brand-name drug companies and increased domestic investments.”

The study can be found in a report called The Real Story: R&D Spending by Brand Name Drug Companies in Canada: 1988 – 2013, which is available at www.canadiangenerics.ca.

According to new research by LoyaltyOne, a global provider of loyalty marketing and programs for the retail and other industries, 18 to 29 year olds want a more hands-on shopping experience that features sessions with consultants or experts, thereby encouraging repeat spending.

In a September 2014 survey of 1,034 American shoppers from the loyalty marketing company, 84 per cent of millennials stated that they would be encouraged to shop with a grocer more often if they were able to redeem loyalty points for a session with a chef or nutritionist.

“Marketing to millennials successfully will depend on how well retailers meet their unique needs,” said Fred Thompson, retail practice leader for LoyaltyOne, in a news release from the company. “Offering sessions with a consultant or expert in the field helps to develop a meaningful relationship between the retailer and shopper, which leads to increased engagement, loyalty and ultimately, profitability.”

After a White House announcement on data and payment security, the National Retail Federation released a statement from NRF President and CEO Matthew Shay supporting the initiatives outlined in the announcement.

“We applaud the administration for taking proactive and positive steps by adopting PIN and chip technology for government-issued debit and credit cards, among other things,” Shay said in his statement. “As the world’s largest retail trade association, NRF continues to work with our members and other stakeholders on practical and comprehensive solutions that are less about process and more about progress toward how we collaboratively prevent and combat this criminal activity.”

The NRF represents discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and over 45 other countries.

“From insisting on PIN and chip cards to facilitating greater information sharing among retailers and other sectors, we are committed to finding the right answers with the latest technologies to stop these cyber thieves,” said Shay in his statement. “This is not an issue about large retail versus small, or global financial institutions versus community banks and credit unions, or the federal government versus municipalities. We all stand together in seeking solutions to prevent criminals from accessing personal financial data regarding our customers, investors and citizens through preventable data breaches.”

Retail is the United States’ largest private sector employer, with 42 million Americans in the industry. It is responsible for generating $2.6 trillion annually to the GDP and is used to measure the United States’ economy on a daily basis.