Paul Martin's Business Update - January 14th

Paul Martin's Business Update - January 14th

The trickle-down effect is an economics concept that suggests a rising tide raises all boats or that strong success in the commercial arena generally results in a better standard of living for everyone. It has proponents and those who reject the notion, like those who sparked the Occupy Movement.

But a new study from StatsCan says there might be something to it.

It looked at wages from 2001 to 2008 across the country and one thing stood out. Saskatchewan along with Alberta and Newfoundland, the country’s three major oil producers, saw a disproportionately large increase in pay among young people. Basically, wages for young men in particular rose about five times the pace of young men in other parts of the country. And the ability to get a job was three times higher.

This strong economic lure – one where average individuals or working people are sharing in the commercial success of an industry – has some other impacts as well. The draw of the patch meant fewer young men were enrolled in post-secondary schools or were unemployed.

#wetellyourstories #canada #business #radio #report #news #paulmartin #statscan #oil #occupy #economics www.martincharlton.ca