Merchant Advance Blog

Blog Article: Canadian Worker Profits Up!

Well this is good news.

A new report by StatsCan claims that Canadians are earning more this year than last. And while findings of this nature can hardly be considered negative, unfortunately the new stats don’t encompass everyone. Earnings of people working in the accommodation and food services sector have dropped, but virtually every other sector has seen a growth in income.

Average weekly earnings for all employees surveyed was $909 in February, up 3.1 per cent from the year before. Construction workers, particularly those working in utility systems and non-residential construction, saw the largest growth, with average weekly earnings at $1,166, up 4.6 per cent from last February.

In public administration, weekly earnings rose 4.3 per cent to $1,173, mainly due to local, municipal and regional public administration. Workers in administrative and support services as well as professional, scientific and technical services also saw relatively large increases in earnings at 4.1 per cent and four per cent respectively.

The growth in Canadian worker profits is reflective of many factors, but is attributed mainly to wage increases and longer work hours per week. Minimum wage has been increasing nationwide, but the most recent and drastic changes were seen in Alberta, British Columbia, Manitoba and New Brunswick.

While the good news is relished predominantly by hourly workers, small business owners can rejoice in the findings too; as this could be an indication of business confidence continuing to soar.

Way to go, Canada!

 

 

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