Uh oh. More bad economic news for Ontario. From this Bloomberg article:
"The paychecks of non-farm payroll employees rose 1.1 percent from a year earlier, the least since October 2009"
Well obviously that's not great and the world economy has been honking lately so what can you really expect. What about Ontario's number individually?
"Wages in Ontario, Canada’s most populous province, fell 1.3 percent in September from a year ago, Statistics Canada said today."
Wow, that really, really sucks. No wonder government revenue isn't doing well. Also that means the rest of Canada isn't doing that bad when you factor out Ontario's complete sucking.
What's even worse is what the private sector number must be. Teachers and physicians are in the middle of deals with 3% annual increases in cold hard cash and sure there's a few wage freezes out there for other public sector workers, but most other public servants are still getting small increases, so if you take the public sector workers out of the equation, the wage number for the private sector must be abysmal. Time to start shorting Ontario bonds?
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