Canada Wage Growth Essay

One of the most pressing issues faced by Canada today is unemployment. In fact, reports confirm that the jobless rate continues to increase every year. As of February this year, the unemployment rate was at 7.0%. The presence of unemployment rate is evident in various provinces. In Quebec, the number of people working declined by 26,000 in February. Alternately, the number of employed in British Columbia fell by 10,000; while Saskatchewan nearly 6,000 individuals are unable to find jobs. The Conference Board of Canada projected that the country’s labour woes could reach to more than one million workers by 2020. In addition to this, experts predict that the unemployment rate in this country will surpass that of the United States. Along with the dismal figures and projections, the problem of unemployment consequently creates numerous negative consequences on the nation’s economy, its government, and of course its people. Some of the known effects of unemployment include reduced spending power, an increase in financial cost, recession, and even crimes and violence. Individually, long-term unemployment may result to depression, loss of self-respect, and strained relationships with family and friends – ultimately causing damage to the person’s overall well-being. The adverse effects of unemployment only show that this issue imposes a significant cost both on a national and individual level. As such, it is of primary importance to create an immediate plan of action to alleviate

The gender wage gap is the difference in earnings between women and men in the workplace. It is a widely recognized indicator of women’s economic equality, and is measured by comparing annual earnings of women full-time, year round, to working men. Currently, the gender gap is at 28% in Canada. To be valued less than any man I have and will ever meet despite my education, drive, skills, or intelligence simply because I am a woman, is an issue that I will not let stand. I am committed to addressing the discrimination in wages and employment and the undervaluing of women and our work.

The minimum wage is one of the most controversial issues on our country, which is United States has been facing last ten years. There have been never ending debates over this issue until the government, company, and others party stand together, and raise the minimum wage throughout the nations. There are communities that believe raise the minimum wage has negative impact of every sector of the country. Other communities have different beliefs over the issue, raising the minimum wage helps the poor people, and would help not hurt our economy.

The unemployment rate for March 2016 is at 7.3% compared to 6.6% in 2014. With the rising unemployment rate, people looking for jobs will have a much more difficult time. People will be looking longer for jobs and will not be receiving a salary to pay for costs of living. Right now, each month the unemployment rate climbs by 0.4%. This results in a loss of 35,700 jobs per month. Chapter six of Dinner Party explains the inflation costs. We can relate this to the inflating cost of living and the rising unemployment rate. Canada needs to change quick, as 35,700 jobs lost each month is not good for people trying to support

Many Canadians may look at the minimum wage increase as a positive aspect of the economy, however, there are other factors which contribute to this matter. The cost of living in Canada is rising, for example, food prices have inflated by 1.1% since August 2015. This may not seem like a considerable amount, but the costs accumulate over time.

The vacant positions need to be filled by new “cogs” and the physicians will do this is if they receive lots of money (Phillips, 2014). Money isn’t always what is going to draw people to work in Saskatchewan (Kaul, 2013). It could be the lifestyle, opportunities and many other aspects (Kaul, 2013). They may have come to the country to provide their family with a better life and opportunity but to the government they are just here to work.

This survey was introduced to observe the way society lives in today's world, and how they live paycheck to paycheck. The Canadian Payroll Association had a conclusion after this survey that most Canadians are not happy with the way they live. Because of the weak economy, Canadians believe that they are not going to be able to retire at an early age, there just won't be any money saved. Statistics prove that the economy in the housing market is the biggest factor most families face in today's world because society dictates that we need things in life to survive. People are living above their means, and that’s why the credit card companies are getting richer.

Employee skills and the ability of employers to attract and retain skilled workers will be a primary concern to Canada’s economy in the immediate future. A train overflowing with crisis is approaching, and we need to stop listening for it to come because it’s already bearing down on us. Labour and skill shortages in Canada can be attributed to: aging population, increased life expectancy, migration of highly skilled labour, and the disparity between the skills possessed by youth and the skills demanded by employers.

The article states how wage gap negatively affects Canada’s economy, and could increase the GDP by $150 billion. Raising women’s involvement in the labor force by 3% would get Canada 42% of the way to the $150 billion by 2026. It also states that if women worked 50 minutes longer, $24 billion would be added to the economy. This article shows how important it is to utilize all individuals.

Canada a nation with some of the richest histories in the world, some more intriguing than others whether it be its contribution during the second world war, or more importantly its fight within its self in seeking for equality and justice for it people. Similar is the case for labor the fight and struggle that was encountered by thousands in the early years of 1800’s till present. There were plentiful struggles made including ending child labor, the workers compensation, fight for being unionized in order to survive the brutality of the capitalists. In this paper I will explore the history of the minimum wage globally and the acts used to enact it in Canada with relevance to current economic conditions. Minimum wage is defined as “the minimum

The manufacturing industry was once a very large part of Ontario’s economy. We are seeing more and more manufacturing businesses disappearing and moving elsewhere. Ontario has a great potential to be a manufacturing powerhouse but the current situation is not attractive for many companies: “If a particular country has a lower price, the other countries will buy” (DPE 134). Because of the current value of the Canadian Dollar, manufacturing companies in Ontario could potentially export to the United States and make a greater profit because of the dollar. This is not the case as Ontario has seen a drastic drop in its GDP in the past ten years because of many manufacturing companies setting up elsewhere3. There are many reasons why this is but a large factor is the minimum wage on Ontario. Ontario, like many other countries has a minimum wage that employers must pay to its employees. Many countries in Asia or Latin America do not have a minimum wage so employers can pay their employees significantly less4. As the government continues to raise concerns about raising the minimum wage once again many manufacturing businesses are becoming anxious about if they too should move to an off shore location as this could be a potential cost savings for their company. The government and its economists will need to continue to analyze to see if raising the minimum wage

     Besides a relatively non-competitive business environment, Canada?s labour force also lacks the competitive mindset. Structural employment remains high, which is partly due to the existence of social assistance and unemployment insurance systems. Work incentives are low under the protection of the employment insurance program, which indirectly contributes in a higher than the desirable unemployment rate. Furthermore, unions and other similar groups do not promote many incentives for workers to stay competitive in the workplace by continuously learning and improving productivity. Countries that have been most successful in cutting unemployment are those that have improved

During the recent past however, when the company became a more dominant global competitor and a publicly traded conglomerate, the numbers of employees leaving the firm have increased, generating adjacent problems of employee recruitment, training and retention. In other words, the major challenges currently faced by the company are related to talent management. At a more specific level, the issues refer to the following:

Higher Wages and Higher Prices Inflation involves changes in both prices and wages, and can be initially caused by either. Therefore, in this essay I will look at two cases of inflation, one, which is caused by a change in aggregate demand, and one, which is caused by a change in aggregate supply. Both of these will have relation to prices and wages. I will then examine the fiscal and monetary policy responses available to government in either case.

Economic growth refers to the rate of increase in the total production of goods and services within an economy. Economic growth increases the productivity capacity of an economy, thereby allowing more wants to be satisfied. A growing economy increases employment opportunities, stimulates business enterprise and innovation. A sustained economic growth is fundamental to any nation wishing to raise its standard of living and provide a greater well being for all. Gross domestic product (GDP) is the monetary value of all final goods and services produced over a year. It is the total value of production within the economy. The total value of production is the total value of the final goods or services less the cost of