Thursday, November 24, 2011

No, really? Canadian wages plummet under Harper

Canadian workers are failing to keep up with the rising cost of living as real wages continue to fall dramatically, new data from Statistics Canada shows.

The agency reported Thursday that average weekly earnings for non-farm payrolls fell 0.3 per cent in nominal terms in September to $872.75.

When the 3.2 per cent inflation rate for the month is taken into consideration, the drop in real wages was more dramatic.

On a year-over-year basis, the increase in earnings was a mere 1.1 per cent, the lowest level of growth since November 2009.

Average weekly earning gains have been dropping steadily since the spring, when they were as high as 4.1 per cent in April, well above the inflation rate.

With income from investments also soft because of the volatility in equity markets, analysts said it is fair to assume Canadians' average standard of living is also dropping.

Read more here.

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