PSAC strike may have sent economic growth into negative territory, economists say — via financialpost
inflation under control
But, it was only the second time in this inflationary run that wages outpaced the consumer price index. Nathan Janzen, an economist at Royal Bank of Canada, said wages have been playing catch up, one of the reasons the PSAC agreement doesn’t have him too worried.Article content Brown at Capital Economics said he didn’t think the deal would fuel inflation, as it covers a small number of workers as a share of total employment, roughly 0.5 per cent of the Canadian workforce. “From the bank’s perspective, the key point is that the wage deals for this year, at 3.5 per cent, and for next year, at 2.25 per cent, are consistent with the bank’s two per cent inflation target,” he said.
“Also, by spreading the wage increases on four years rather than three years, you spread the inflation pressures,” St-Arnaud said. “This is much better than if all the adjustment was front-loaded.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TooFab's Week In Celebrity Photos: April 23 - April 29Sydney Sweeney, Lukas Gage, Chris Appleton and more step out for an Armani Beauty event to celebrate the launch of the My Way Refillable Parfum (via toofab)
Read more »
See all homes sold in these New Jersey counties, April 17 to April 24Real estate transfers in New Jersey counties reported from April 17 to April 24.
Read more »
TooFab's Week In Celebrity Photos: April 23 - April 29Keke Palmer's newborn baby boy just made his ADORABLE red carpet debut (via toofab)
Read more »
Theo Argitis: PSAC strike may be over, but workers' fight with inflation was already lost2022 was one of the worst years in decades for real wages, but once inflation surges, the die is cast and the fight lost for labour. Read on.
Read more »
PSAC, Treasury Board reach tentative deal after weekend of bargainingThe union says the agreement includes a total compounded wage increase of 12.6 per cent over four years.
Read more »
Theo Argitis: PSAC strike may be over, but workers' fight with inflation was already lost2022 was one of the worst years in decades for real wages, but once inflation surges, the die is cast and the fight lost for labour. Read on.
Read more »