Paul Martin’s Business Update – October 31st, 2014

Saskatchewan workers are within a whisker of reclaiming second spot among the provinces in terms of pay packet size.

StatsCan conducts a monthly survey of average wage rates in the country. It tracks the number of hours worked including overtime and then generates a calculation of average pay. For months Saskatchewan has hovered in third spot behind Alberta and Newfoundland. The latest figures – for August – saw Saskatchewan go up and Newfoundland fall. We were up $8 a week, they were down $5. As a result the spread between us is only $3 weekly.

These changes amount to a four per cent increase for the year ending in August in this province or roughly $40 a week. That is also the fourth highest growth rate in the nation but quite a contrast to the major provinces.

Ontario wages rose by only 73-cents in the month while in Quebec pay packages fell significantly, down nearly $26 a week. The greatest improvements were seen in the retail sector, the only segment of the economy that saw pay rise faster than the national average.

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