Canadians can expect a raise next year: report
Oil and gas, and mining workers will see the largest increase in pay.
TORONTO—A new study suggests Canadian employees can expect to see their salaries rise by an average of 2.9% next year.
That increase is slightly more than the 2.8% increase projected for in 2012 and close to the 3% increase expected south of the border in 2013.
However, the rise is much lower than projected yearly increases of around 3.7% before the 2008-2009 economic downturn.
The survey of employers conducted by global management consulting firm Hay Group says workers in the mining, oil and gas, and chemicals fields will be the biggest winners.
More than 500 Canadian organizations provided details of their planned salary adjustments for 2013 for the Hay Group survey, which was conducted in June and July.
Workers in the oil and gas sector are expected to see a 3.9% jump, followed by mining, at 3.6%.
“However, these higher forecasts are more of a reflection of the demand for key skills —and the competition for skilled talent—rather than ‘boom times’,” the company writes in the report.
By province, it is resource-rich regions that will lead the way.
Alberta, with a 3.6% increase will lead the country, followed by Newfoundland at 3.4%, and Saskatchewan at 3.2%.
Those working in health care are expected to see the most modest increases, at 2%, followed by media employees, at 2.2% and government and telecommunications workers, both at 2.3%.
Overall, the public sector—where governments are looking for cuts to slash deficits—is expected to see noticeably lower salary increases than the private sector.
©The Canadian Press