El Presidente Posted May 27, 2018 Posted May 27, 2018 Topic of discussion o the eck last Friday was the first green shoots of wages growth locally (Oz). Wages growth has been under 2% per annum for around 6 years. Normally this would be disastrous but record immigration has taken up the slack. In your locale and industry, are you seeing wage growth happening at the moment?
luv2fly Posted May 27, 2018 Posted May 27, 2018 I am not sure about that in my neck of the woods except that my wife just got a 3% raise. To say the least......it made a big difference. More cigars for me? Hell to the NO!
SigmundChurchill Posted May 27, 2018 Posted May 27, 2018 27 minutes ago, El Presidente said: Topic of discussion o the eck last Friday was the first green shoots of wages growth locally (Oz). Wages growth has been under 2% per annum for around 6 years. Normally this would be disastrous but record immigration has taken up the slack. In your locale and industry, are you seeing wage growth happening at the moment? If I say “yes”, are cigar prices going up? 2
BellevilleMXZ Posted May 27, 2018 Posted May 27, 2018 Its been decent here in Ontario Canada, for the most part. They did bump the min. wage recently, which is good for some, but is hurting small businesses surely.I'm not sure if it was a good idea or not? But ONtario, is the lowest increase in Canada over the last 10yrs.....Election time in just over a week, maybe better times ahead! That said our $ has been taking a hit compared to US $ which hurts us a bit as prices of some stuff goes up. I can't complain at all though, I work in the auto sector, and it has been on fire the last while.
retrofail Posted May 28, 2018 Posted May 28, 2018 Small business owner here. We've had increase our wages across the board over the last couple years to keep and attract entry level employees. About 2% a year. There hasn't been a formal increase in minimum wage, but my market has more jobs than people to fill them. Fast food can still pay minimum, but that's about it around here. Sales are up, so it's doable at this point. But if gas continues to rise and if interest rates start climbing, that'll all change.
kwsaw63 Posted May 28, 2018 Posted May 28, 2018 Singapore has been running at essentially full employment for many years (between 2% to 4% unemployment rate) so annual wage increases of 3% to 5% are the norm here. Having said that, the Maritime industry in which I work has gone through a tough 3 years and I personally have experienced a wage freeze for the last 2 years. Still it's better than being a Malaysian Cabinet minister and taking a 10% pay cut!
Lotusguy Posted May 28, 2018 Posted May 28, 2018 SF Bay Area is crazy - 3% per year is the absolute minimum you have to give if you don’t want to risk mutiny.
nsills Posted May 28, 2018 Posted May 28, 2018 I'm a project manager here in CA. Minimum wage is climbing to $15 USD in Los Angeles by 2021. Even for higher paid laborers I can't imagine they and people in many other industries will want to strap on their work boots when they can flip burgers down the street from their house. With the shortage of labor they are demanding more and more every week and I don't blame them.
nsills Posted May 28, 2018 Posted May 28, 2018 34 minutes ago, Lotusguy said: SF Bay Area is crazy - 3% per year is the absolute minimum you have to give if you don’t want to risk mutiny. Are the rate increases keeping up with cost of living there?
Lotusguy Posted May 28, 2018 Posted May 28, 2018 Are the rate increases keeping up with cost of living there? Not really, no
hedgeybaby Posted May 28, 2018 Posted May 28, 2018 https://www.mises.ca/the-minimum-wage-myth-that-wont-die
hedgeybaby Posted May 28, 2018 Posted May 28, 2018 Everything seems very expensive here in Toronto! Besides, nominal increases in wages matter not a jot.
JohnInCleveland Posted May 28, 2018 Posted May 28, 2018 I'm a business owner so my perspective skews in that direction. There are very few qualified candidates BC unemployment is super low. Wages are fairly stagnant, which presumably will start to change BC of the thin labor pool. Hasn't yet though, at least not much.
Jimmy_jack Posted May 28, 2018 Posted May 28, 2018 13% increase spread out over two years for my employment. That’s the first big bump in 7 years?
PapaDisco Posted May 29, 2018 Posted May 29, 2018 Haven't heard anyone in the white collar ranks cheering, but local labor (carpenters, painters, etc.) are up huge from 5 years ago. Like from $35/hr to $50-60/hr. 1
dominattorney Posted May 29, 2018 Posted May 29, 2018 We are seeing wage growth out here, at least in my sector, however were seeing rent and property prices rise in kind, so it's been about a wash.
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