Let's face it - life in Canada is getting ridiculously expensive. The cost of living in metropolises like Toronto and Vancouver have skyrocketed, with the cost of rent increasing to more than many people even make per month.
And with the cost of living steadily increasing, changes are on the way to increase minimum wage as well as make amendments to old labour laws in the hopes of equalizing the impact pricier living has on Canadians.
But not all jobs are offering wages that match the cost of living. Global News calculated Canadian wages across the country according to job type and were able to determine the best and worst jobs and industries to be in, when it comes to looking for a career with steadily increasing wages.
Their findings, which analyzed the Canadian labour market trends over the last 20 years, concluded that the best jobs to be in when it comes to increasing wages are managerial positions, as well as jobs in the housing and resource sectors (such as real estate and trade jobs).
Here are the best jobs and industries in Canada for increasing wages that aim to match up with the cost of living:
1. Management jobs
2. Care providers and educational, legal and public support jobs
3. Professional nursing jobs
And here are the worst jobs and industries in Canada when it comes to increasing wages:
1. Retail sales supervisors and specialized sales jobs
2. Labourers in processing, manufacturing and utilities
3. Manufacturing assemblers
Analysts aren't entirely sure why managers have steadily enjoyed increasing wages over the years, but the report does make one very clear conclusion: "Being at the top of the corporate food chain...pays off more today than it did in the past."
The report also found that regardless of your educational background or tenure, people who have been had jobs in the mining, oil, gas or construction sectors have done quite well for themselves (no surprise there) and these industries will continue to boom when it comes to wages.
But before you think of dropping out of university or college and pursuing a career in one of the resource sectors listed above, but the report found that in the long run, "higher levels of education are associated with higher wages and university degrees pay off better than technical diplomas."
So as the cost of living continues to increase and the Canadian job landscape continues to change with time, it's a good idea to take employment wage history into consideration when deciding on your future.
Source: Global News