High and low wages growth jobs in Canada
When earning enough income to provide for basic needs, keeping up with living costs is the question, holding a decent job is important. Here we have compiled the best jobs to do in Canada, compared to the wages and inflation.
The statistics of the Canadian labour market during the past 20 years have been considered in it.
Analyzing the jobs which performed best and also the worst compared with inflation, the list is here.
Managers across sectors were the winners.
Statistics Canada, which examined data between the years 1998 and 2011, confirmed the trend that all Managerial occupations recorded a high wage growth compared to any other occupation.
The managers holding out better than others, is because of being more educated comparatively. The wage growth is unexplained, but some feel that they have greater ability to extract rent. The other sectors to benefit were care providers and professional occupations.
Being at the peak of the corporate food chain helps to get stock options and bonuses today compared to the past.
At the contrast retail and manufacturing jobs that did not need schooling had workers with wages that did not keep up with inflation in 20 years.
Working in the oil and gas, mining and construction industry, ensured that in spite of any education and tenure, workers did well. Wages received in the resource sector increased by 30 percent between 1997 and 2017.
The wages paid to government employees also increased by 26 percent.
In the construction industry, wages increased owing to ascending prices of housing. In the wholesale trade also there was a wage growth.
In the manufacturing sector, the information and cultural industries, and also in movie, publishing and broadcasting, as a contrast, the wages did not keep up with inflation.
The resource and the housing sectors enriched several Canadians. It had a few side effects.
Effects of wages
The median wage in Canada increased at a rate of 15 percent over the period, though no significant event occurred during the 1980s and 1990s. In fact, only in 2005, the wages started to increase.
How it happened?
The resource boom led to well-paid jobs not requiring any university degree. There were bargains for better wages as some workers threatened to leave for the oil patch.
Commuting to far-lying lands, for working to extract resources, has contributed to spreading the effect of a boom, to broad geographic regions.
Mining and oil and gas extraction are done far from the densely populated areas, which requires workers from distant parts of the country.
Thus there were a few logical reasons in the growth and downfall of wages and the total effect of each sector needs a detailed study so that the lessons are learnt for the future.