Saskatchewan Wage Growth Rate Named Best in Canada
Written by Shanna Empey on Wednesday, 01 April 2015
Saskatchewan has claimed the title of best wage growth rate in Canada according to Statistics Canada.
The province had the highest year-over-year growth in Canada, up 4.9 per cent over January 2014, which surpasses the nationally posted 3.0 per cent. In January 2015, Saskatchewan’s average weekly earnings were $987.51, the third highest among the provinces behind Alberta and Newfoundland and Labrador. Nationally, the average was $947.68.
Immigration, Jobs, Skills and Training Minister, Jeremy Harrison, says high wages are an important component in attracting new skilled and professionals workers to the province:
“We have people that are making more money, far outpacing the rate of inflation, which means in real terms people are making more, so obviously that’s a good thing and I think it’s a reflection of an economy that continues to be strong and continues with the lowest unemployment rate in Canada,” he explained. “We know we have some very real challenges owing to the very steep decline in oil prices, but our economy continues to be resilient and it is a reflection of an economy that is very diverse, that continues to move forward in a positive way. This is another factor in making sure that people are benefiting from the economic success of the province, and the fact that people have more money in their pocket, that’s a very positive part of that strong economy.”
Harrison says these statistics are a good sign moving forward, adding that 14 of our 17 major industries saw increases.
via Local News http://ift.tt/1CzukEL