Planning to Migrate Canada here is Information about Wage Growth
Income that keeps pace with living costs is crucial to make both ends meet. We present the best jobs to do in Canada, related to wages and inflation. It reflects the Canadian labor market in the past two decades.
The best bet to always have a growing paycheque is by becoming a manager followed by being in the resource sector or housing.
Managers are winners across various sectors.
Statistics Canada examined data between 1998 and 2011 to reveal that Canada Federal Trade Worker Class like Managerial occupations registered a high wage growth than any other jobs. Managers are more educated than different categories of employees. They possess a great ability to extract rent.
Cost of Living
Wages Compared to inflation 1997-2016
|Best Jobs||Worst Jobs|
|Management Occupations||+95%||Retail Sales supervisors and sepcalized sales occupations||+83%|
|Care providers and educational legal and public support protection and support occupations||+88%||Labourers in processing manufacturing and utilities||+33%|
|Professional occupations in nursing||+83%||Assemblers in manufacturing||+37%|
Senior executives in Canada have an exorbitant pay. They are at the top of the corporate system and earn a better salary today than in the past.
The low wage category had jobs in the retail and manufacturing and did not require much schooling. Workers in these occupations had wages that did not keep up with inflation during the past two decades.
Lacking a university degree did not stop workers in other sectors from having substantial wage growth.
Cost of Living
Wage Growth 1997-2017
|Best Industries||Worst Industries|
|Mining Quarrying and oil and gas extraction||+32%||Manufacturing||+3%|
|Public Administration||+32%||Information and cultural industries||+8%|
|Whole Sale Trade||+32%|| |
Transportation and warehousing
The wages observed industry wise showed a major impact in the commodities and housing sectors. Not considering education and term, work in mining, the oil and gas sector and the construction industry, showed impressive gains. In the construction industry, wages increased owing to increased housing prices.
Data reveals that Wages paid in the resource sector, increased by 30 percent between 1997 and 2017.
The wages of government employees also grew by 26 percent.
In manufacturing, as well as the Information and Cultural Industries, along with transportation and warehousing sectors, wages did not keep pace with inflation.
When the resource boom happened, it put not only much money, in the pockets of the people, but also had many spillover effects. The median wage in the country increased by 15 percent between 1981 and 2017, but nothing special happened in that period. There was an upward trajectory in 2005. Half of that growth occurred because of the resource boom. It created several well-paid jobs not requiring a university degree. People bargained for better wages by threatening to leave for the oil patch. Long distance traveling for work in resource extraction spreads the effect of a boom to a wide geographic area. In housing booms, the impact is more localized.
Mining apart from oil and gas extraction happens far from the densely populated areas, which results in transportation of workers from distant of the country.
Seeing the wages in the resource sector and the construction industry, one wonders about the benefits of attending a university.
The Provinces of Alberta, Newfoundland, Saskatchewan, and Labrador, witnessed a decline in the rate of enrolment of youths, in higher education when the commodity-price boom happened. Students dropped out of school or did not wish to pursue further education, to work in the mining and oilfield sectors.
It was a rational decision in the short term, but when such booms go bust, only a high level of education offers high wages. The university degrees reward much better, regarding pay than technical diplomas. Having a plan for days after a boom is over, it is necessary for leading a good working life.
To find out if you are eligible to Migrate to Canada permanently, fill out a free evaluation form or contact us at [email protected] or call us 7207111222. One of our experts will meet your expectations and provide answers to queries.