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Local wages and the cost of living


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#41 mat

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Posted 15 January 2009 - 10:26 PM

Yes - this should be about the topic - nice to see computer problems resolved, but the forum has a Private Message system which might be better usage if you wish to go off topic.

Back to the issue of low wages and cost of living - up to around November I saw 'jobs offered' signs in just about every retail shop and mall, no longer. Even Safeway has taken down the large banners they had on most stores looking for employees. Allot of people, from decent wage construction to basic entry level retail, have lost jobs recently - and many more will be applying for UI shortly, especially when retail units downsize or close (and there are going to be many). Our local economy is only a few months behind the closures seen in TO, Calgary and even Vancouver.

#42 Roger

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Posted 15 January 2009 - 11:05 PM

I thought readers might find this graph interesting



#43 mat

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Posted 15 January 2009 - 11:26 PM

Roger - you are so good at providing these wonderful graphs and visual representations of data. That graph shows what most would expect - a general trend upward on hourly wage as employment expanded, and as most companies were on hiring plans going into summer 2009.

It will be interesting to see what the same graph shows after next quarter results.

Well done

#44 G-Man

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Posted 16 January 2009 - 07:50 AM

THe best way to deal with "price gouging" is to stop buying the product.

#45 spanky123

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Posted 16 January 2009 - 08:41 AM

Roger - you are so good at providing these wonderful graphs and visual representations of data. That graph shows what most would expect - a general trend upward on hourly wage as employment expanded, and as most companies were on hiring plans going into summer 2009.

It will be interesting to see what the same graph shows after next quarter results.

Well done


I find it funny that the BC Real Estate Association is producing statistics on wage growth, unless they are just taking the statscan data and not giving them credit.

I think that the general consensus is that wages will start to decline this year and potentially next as we start to see the unemployment rate increase and more competition for jobs. I have a friend who works in IT and their staff was told this week not to expect any pay increase this year and people were actually relieved as they expected worse!

#46 Roger

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Posted 16 January 2009 - 10:50 AM

I find it funny that the BC Real Estate Association is producing statistics on wage growth, unless they are just taking the statscan data and not giving them credit.



BCREA has their own economist team and they produce reports on the BC economy every so often. You can find them here

#47 spanky123

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Posted 16 January 2009 - 01:09 PM

Sobering info for those of us 20 somethings.

http://www.msnbc.msn.com/id/28663645/

How quickly the world has changed. A year ago everyone was told to not worry about a career as jobs would always be available and the employee would be able to set their own terms whenever they wanted. If you don't get what you want, quit because the business across the street will hire you for more.

 



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