Paul Martin's Business Update - January 2nd

Paul Martin's Business Update - January 2nd

One of the biggest benefits of the Saskatchewan economic success story has been how its benefitted people in all income levels. Those who say trickle-down economics don’t work haven’t been to this province.

Further evidence of the real gains being made by workers are contained in two reports from StatsCan. First is the pay package update which showed gains of roughly three percent in the past year. The second was inflation which stood at 1.4 per cent for the year and actually was negative in October.

In economics parlance these are known as real gains – wage increases being positive after inflation is deducted. In other words, personal purchasing power is increasing, leaving more discretionary cash to spend on everything from debt reduction to new vehicles to savings.

The province’s economic story has been well-documented in recent years but we’ve tended to look at it as a whole, not broken down into parts like wages and inflation. But when these calculations are made, it’s clear that business or government are not the only beneficiaries of strong commercial activity.

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