Paul Martin's Business Update - August 29th, 2014

People working in the construction industry are riding a wave right now.

First of all, this sector is creating plenty of opportunity, more jobs than most industries. Second, their wages are going up faster than any other industry.

The latest figures on weekly pay packets in the country, once again has Saskatchewan in third spot behind Alberta and then Newfoundland. Wages are rising above the national average here as employees make real gains in purchasing power and disposable income.

Actually all the resource-producing provinces are doing well, pretty much leading the pack nationally. And Manitoba has joined this group with wages rising in the four percent range in the past year.

StatsCan says that while construction is leading the pack, virtually all industry groupings are seeing gains right now. Only educational workers and those in administrative jobs are losing ground as average weekly pay packets contract. Part of the reason could relate to overtime which may skew the numbers in regions where labor is scarce but plants are running at capacity, relying on their people to put in extra hours.