Wages in Canada continue to be stagnated

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This presentation looks at wages for Canada for January 2017

Wirtschaft & Finanzen

CANADA – WAGES AND
EMPLOYMENT – JANUARY
2017
PAUL YOUNG CPA, CGA
MARCH 30, 2017

AGENDA
• Summary
• Wages / Sector
• Employment / Wages
• Skills Trades / Hourly Rate - 2015
• Skill Trades / demographics

WAGES/SECTOR
• Stats Canada – March 31, 2017

EMPLOYMENT – WAGES / MONTH
• Stats Canada – March 31, 2017

SKILL TRADES / CANADA
• Stats Canada – March 29, 2017

SKILLS TRADES
• Stats Canada – March 29, 2017

2017 FEDERAL BUDGET
Expectations are running high that next week’s federal budget will provide a
more detailed federal strategy — and perhaps more cash — to help post-
secondary students land real-life work experience in emerging, employee-
starved fields.
In last year’s budget, Ottawa committed $73 million over four years to fund
an initiative aimed at ensuring that what’s being taught inside the classroom
is better aligned with the tech-related needs of the job market.
680 News – March 14, 2017
Comment:
• Technology is only part of business process
• Canada needs to more Trade/Investment deals to expand exports. For each $1B of exports there are
5,500 jobs.
• Canada lacks the export capacity (i.e. Ports, rails, roads, bridges, pipelines, etc). The loss export business
is about $125B
• Jobs are constantly changing due both demands of business as well the implementation of productivity
measures
• Government is not dealing with the systemic issues of education. You cannot fixed a problem by
throwing money at the symptoms. The skills trades system has to be fixed including how people get
certified.

JUSTIN TRUDEAU – PRIME MINISTER – MIDDLE CLASS
• Voters are right to be outraged, he said. Both business and government need to adjust. “It’s time to get
real about the challenges facing the middle class,” he said. “Old approaches don’t work anymore…. We
can’t go about things the same way and expect to succeed in this new world.”
Justin Trudeau – Toronto Star – February 23, 2017
Comment:
• Canada has been average 2.2% GDP growth for over 15 years.
• Liberals campaign was about expanding the middle class. Yet the Liberals have eliminated tax
credits as well as introduced hikes to CPP/EI and a new carbon tax
• It is business and consumer consumption that drives the economy. If do not create the
conditions for business to invest then you do not create jobs.
• If you removed tax credits and/or introduced new taxes after you made a tax cut then all you
are doing is taking it from one pocket to the other pocket

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RPD Bites is a monthly scan covering issues and trends surfaced in various local mainstream media sources that would be of relevance to the Malay/Muslim community. It is compiled by the Research and Planning Department (RPD) of Yayasan MENDAKI. The key highlights for this month are: • The recently rolled out Fortitude Budget aims to help Singaporeans be resilient during Covid-19. The $33 billion budget focuses on creating job opportunities and leveraging on technology to help businesses and individuals. • The government has planned to end the Circuit Breaker measures on 1st June 2020. By ending the Circuit Breaker measures, the government has aimed to reopen three-quarter of the economy. The reopening of the economy is being done in phases to ensure it does not lead to a spike in new cases. • The SGTeguhBersatu initiative has continued to help the Malay/Muslim community during the pandemic. As part of the initiative, a new committee headed by Minister of State, Mr Zaqy Mohamad, was introduced to look into more ways to help the Malay/Muslim jobseekers. The committee will work together with organisations such as Mendaki Sense and NTUC to help individuals with their career issues. Your feedback is important for us to continuously improve our resources and publications for our readers.

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Blog – GDP Analysis and Commentary – Canada – March 2023 Real gross domestic product (GDP) was essentially unchanged in March, following a 0.1% increase in February. Service-producing industries (+0.0%) were flat, whereas goods-producing industries (-0.1%) edged down. Overall, 12 of 20 industrial sectors posted increases in March. Public sector continues upward momentum The public sector (educational services, health care and social assistance, and public administration combined) continued its upward momentum, increasing 0.3% in March and rising continuously since February 2022. Source - https://www150.statcan.gc.ca/n1/daily-quotidien/230531/dq230531b-eng.htm Additional sources and links GDP / Canada - https://financialpost.com/pmn/business-pmn/canadas-q1-gdp-outperforms-with-3-1-growth-april-seen-up-0-2 Government spending - https://www.bloomberg.com/news/articles/2023-05-31/canada-economy-grows-3-1-in-first-quarter-beating-expectations#xj4y7vzkg Oil Production - https://www.reuters.com/business/energy/why-is-opec-cutting-oil-output-2023-05-30/ LNG Production - https://www.bnnbloomberg.ca/european-gas-slips-as-sluggish-chinese-data-damps-lng-demand-1.1926881 Food costs and security - https://ca.sports.yahoo.com/news/under-pressure-government-looks-food-191700923.html Tech Trends - https://www.europeanbusinessreview.com/tech-business-trends-to-watch-in-2023/ ESG - https://environment-analyst.com/global/109439/from-compliance-to-value-creation-preparing-for-esg-disclosure-rules Advertising - https://www.adweek.com/agencies/global-ad-spend-on-the-rise-but-digital-growth-is-slowing/ Global Inflation - https://www.euromonitor.com/article/global-inflation-tracker-q2-2023-inflation-trends-down-but-labour-markets-pressure-services-prices Lithium - https://www.bnnbloomberg.ca/chile-sees-lithium-swinging-into-surplus-as-new-supply-arrives-1.1926597 Productivity - https://energynow.ca/2023/05/philip-cross-canadas-worst-decade-for-real-economic-growth-since-the-1930s-learn-why-here/ Manufacturing - https://www.bnnbloomberg.ca/canadian-economic-growth-tops-forecasts-boosting-rate-hike-odds-1.1927014

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Average weekly earnings of non-farm payroll employees were $1,023 in April, up 0.7% from March. Compared with 12 months earlier, earnings grew by 2.9%. (FYI – Goods Producing Sector average is 1.5%. The spike is primarily to do with retail wages. In general, changes in weekly earnings reflect a number of factors, including wage growth; changes in the composition of employment by industry, occupation and level of job experience; and average hours worked per week. Non-farm payroll employees worked an average of 32.8 hours per week in April, unchanged from the previous month and little changed from 12 months earlier. Source - https://www150.statcan.gc.ca/n1/daily-quotidien/190627/dq190627b-eng.htm

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The role of government is defined the educational programs required to support the economy. Too many govts across Canada have pushed programs that do not provide meaningful employment The world continues to change as such governments need to address all their policies that support economic growth Immigration should not be based on quota, but align where there voids in employment not filled by educational programs Canada needs to become more competitive through reducing its reforming areas like taxation, regulations, trade/fipa deals and hydro rates. All levels of government and the private sector need to fixed the education systems to ensure people have skills for today and tomorrow

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Blog – What is next for the Mining Sector – September 2023 The mining sector provides critical material that support solar, wind, and lithium-ion batteries as part of the green transition. https://www.iea.org/news/critical-minerals-market-sees-unprecedented-growth-as-clean-energy-demand-drives-strong-increase-in-investment The mining sector products play a key role with the global GDP - https://www.yicaiglobal.com/news/global-mining-industry-value-was-69-of-world-gdp-last-year-china-says Mining practices need to be sustainable including following all ESG policies - https://www.linkedin.com/advice/1/how-can-you-monitor-sustainable-mining-practices Other links and sources – Lithium Supply and Price - https://zbr.com.mx/en/sin-categoria-es/lithium-prices-fall-44-in-china-due-to-lack-of-demand/138168/ Cobalt - https://www.linkedin.com/posts/mahmut-karada%C5%9F-a2b7a5151_china-exportrestrictions-gallium-activity-7082603182589157376-Zrty/?trk=public_profile_like_view Nickel https://www.eureporter.co/business/2023/09/15/stanislav-kondrashov-from-telf-ag-nickel-prices-outlook-remains-positive/ Iron-ore - https://www.brecorder.com/news/40263584/sgx-iron-ore-set-for-best-week-in-3-months TD Bank / Metals - https://www.tdsecurities.com/ca/en/setting-the-stage-for-gold-outlook Biodiversity / Mining - https://worldcrunch.com/green/lithium-green-energy-argentina-indigenous ESG - https://iriscarbon.com/the-added-value-of-integrated-esg-reporting-a-threefold-framework/

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Blog – Manufacturing Shipments and Orders – The United States – August 2023 Summary: New orders for manufacturing technology in the United States totaled $353.9 million in July 2023, as per the latest report by AMT – The Association For Manufacturing Technology. This figure marked a 12.4% decline from June 2023 but remained only 10.5% lower than July 2022. Year-to-date orders amounted to $2.83 billion, reflecting a 12.7% decrease compared to the same period the previous year. Douglas K. Woods, President of AMT, noted that July is typically a slower month for manufacturing technology orders, so a slight drop was expected. However, he pointed out a notable trend: over the last two months, the year-to-date order gap has narrowed during historically slow periods. While job shops have seen decreased orders, other industries that benefited from reshoring or government investments have helped fill the gap. Among specific sectors, job shops, the largest customer segment, placed their lowest total monthly orders since August 2020. In contrast, metal valve manufacturers recorded their third-highest monthly order value on record, last seen in September 2018, making up nearly 5% of the total manufacturing technology order value for July 2023. Manufacturers of motor vehicle transmissions continued to order machinery at an elevated pace. However, the aerospace industry continued to order below its early 2022 peaks, with hopes that recent projects like the federal government's $1.5 billion investment in communications satellites might reverse this trend. Source: https://www.sme.org/technologies/articles/2023/september/u.s.-manufacturing-technology-orders-dip-in-july-but-show-resilience-amid-economic-uncertainty

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Summary: Over three-quarters of the world’s total coal-generated electricity is consumed in just three countries. China is the top user of coal, making up 53.3% of global coal demand, followed by India at 13.6%, and the U.S. at 8.9%. Burning coal—for electricity, as well as metallurgy and cement production—is the world’s single largest source of CO2 emissions. Nevertheless, its use in electricity generation has actually grown 91.2% since 1997, the year when the first global climate agreement was signed in Kyoto, Japan. However, even as non-renewables enjoy their time in the sun, their days could be numbered. In 2022, renewables, such as wind, solar, and geothermal, represented 14.4% of total electricity generation with an extraordinary annual growth rate of 14.7%, driven by big gains in solar and wind. Non-renewables, by contrast, only managed an anemic 0.4%. The authors of the Statistical Review do not include hydroelectric in their renewable calculations, even though many others, including the International Energy Agency, consider it a “well-established renewable power technology.” With hydroelectric moved into the renewable column, together they accounted for over 29.3% of all electricity generated in 2022, with an annual growth rate of 7.4%. Source - https://energynow.ca/2023/09/infographic-what-electricity-sources-power-the-world-see-them-here-visual-capitalist/

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Summary: The global economy faces what at least one forecaster is calling a mild trade recession as shipments from China slump and German factories downshift. China’s export declines extended into August, though there were signs that the worst of a world trade slowdown may be over for the leading exporter. Overseas shipments from China fell 8.8% in dollar terms from a year earlier while imports contracted 7.3%, both better than economists’ estimates and significantly less severe than July’s downturn. Other data have suggested trade may be stabilizing after weakening for most of this year. Exports from South Korea also declined at a more moderate pace in August than the previous month. Source: https://www.bloomberg.com/news/newsletters/2023-09-07/supply-chain-latest-world-trade-faces-a-shallow-recession?srnd=economics-v2 Additional sources and links: Lithium - https://source.benchmarkminerals.com/article/falling-lithium-prices-challenge-potential-cost-advantages-of-sodium-batteries Oil Production - https://www.cnn.com/2023/09/06/business/oil-price-goldman-sachs/index.html Natural gas - https://www.fxstreet.com/news/natural-gas-holds-up-as-markets-in-limbo-over-strikes-202309070956 Lumber - https://www.fastmarkets.com/insights/sawmill-capacity-closures-reshape-us-lumber-supply Critical metals - https://www.wasterecyclingmag.ca/feature/how-recycling-could-solve-the-shortage-of-minerals-essential-to-clean-energy/ Agriculture - https://www.morningagclips.com/economists-forecast-positive-end-of-year-crop-outlook-despite-warmer-midwestern-climate/ ESG - https://www.skadden.com/insights/publications/2023/09/the-informed-board/the-eus-new-esg-disclosure-rules Ports - https://www.marketscreener.com/quote/stock/HAPAG-LLOYD-AG-24857717/news/Hapag-Lloyd-chief-warns-of-rougher-seas-ahead-for-container-shipping-44789017/ Top destination for reshoring - https://www.thenationalnews.com/business/economy/2023/08/29/uae-in-top-10-most-powerful-passports-for-investment-opportunity/ Global Trade - https://phys.org/news/2023-09-opinion-broke-global-climate-finish.html

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