Paul Martin's Business Update - December 30th

Paul Martin's Business Update - December 30th

The average weekly pay package in this province continues to rise. It was about $25 in the past year but the bulk of that jump – roughly $11 – came in October alone.

That was a big jump and points to a continuation of the marketplace we’ve been in for years - where labor has the upper hand. That means demand for talent is slightly higher than the availability of people to fill jobs. As a result, workers have more choices and employers are responding as you would expect when demand exceeds supply…they are rising the price they’re willing to pay to get work done.

These latest figures also show little change in the national market. Alberta tops the list with the highest weekly pay package, a position it has held for years. Then Saskatchewan and Newfoundland – the other two oil producing provinces – grab second and third place. In October, we were third a couple dollars a week behind Newfoundland.

The biggest gains in income were seen in construction, a sector that appears poised to go through another upturn as we enter the new year.

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