NAFTA - Canadian Remuneration and Wages Since NAFTA
Save this online in Del.icio.us. [?] Vote For this PostNAFTA's impact on Canadians is a subject of interest here, as you can tell, so here's my summary of the data on how Canadians are being paid since NAFTA's implementation. (Click the read full post link at the bottom to see the whole analysis.)
Workers’ remuneration can be measured in several ways. Yearly salary can be the standard of measurement, hourly wages can be measured, and to complicate matters even further, benefits such as health insurance and retirement pension contributions can be included. For this reason, there are differing opinions on what has taken place in terms of Average Income. Continuing to explain the material in the OECD’s 78th Economic Outlook, one will find a measurement that accounts for all the costs (i.e. including pension contributions and the like) incurred by businesses to employing their workers.
The OECD’s numbers on remuneration show a yearly increase averaging 1%. However, the Vanier Institute of the Family (VIF) recently published findings demonstrating that average wage per hour, for those Canadians paid according to such arrangements, had increased by a mere dime, since 2005. Different sectors of the economy naturally varied from this trend, but overall a dime/hour was the average raise. Multiplied by the average Canadian workweek of approximately 30 hours, the extra dime means 150$ more on a yearly basis. This does not include people working on contracts, or getting annual salaries independent of their hours worked, nor people working from home, and so is substantially limited.
Related articles:
Canadian Unemployment since NAFTA
Savings rates in Canada since NAFTA
GDP and GDP per Capita since NAFTA
Canadian government muddled on NAFTA? 4
Categories: NAFTA, economics, wages
posted by lecentre @ 1:01 p.m.
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