Entries in CPI (2)

Tuesday
Jun302015

From the Stats Canada desk - June 2015

Each month Statistics Canada issues a number of snapshots of Canada's social and economic picture through "The Daily", the department's official release bulletin.   

Also in June: 

  • The market value of Canadian employer-sponsored pension funds grew by 3.0% to $1.5 trillion in the fourth quarter of 2014, marking a sixth consecutive quarterly increase.
    On an annual basis, pension fund assets increased by 12.3% in value in 2014, compared with gains of 11.9% in 2013 and 9.7% in 2012.
  • The number of jobs in tourism industries was 1.7 million in 2013. These jobs, which include both employee jobs and jobs from self-employment, represented 9.4% of the 18.0 million jobs in Canada.
  • Lumber production by sawmills increased 13.0% from February to 5, 658.7 thousand cubic metres in March. Compared with March 2014, lumber production rose by 9.2%.
  • Shipments of asphalt shingles reached 3.2 million metric bundles in April, down 29.5% from the previous month. Production of asphalt shingles decreased 6.6% to 3.8 million metric bundles.

Comment through the Peterborough Chamber group of LinkedIn. 

Thursday
Nov062014

Province moves ahead with legislation to tie minimum wage increases with CPI

The Peterborough Chamber of Commerce was part of a group of Chambers of Commerce in the network to encourage government to go this route.  The recommendations in the September 2013 report called “Predictable, Transparent, Fair: The Business Perspective on How to Set Ontario’s Minimum Wage”  included adjusting the minimum wage every two years based on the cumulative change of CPI.  The government has decided to make the change every year with an announcement made in April and the changes coming into effect October 1st of that year.  

Ultimately, the Chamber Network report came to the following conclusion: “By tying the minimum wage to the CPI, both employers and employees will be able to reasonably predict the increases in their labour costs and salaries, respectively.  Everyone will benefit.  Workers won’t be subject to long freezes and deterioration of their purchasing power.  Employers won’t be subject to sudden and unforeseen increases in the cost of doing business.” 

Ontario Government Press Release: 

November 6, 2014 12:10 P.M.

Today, Bill 18, the Stronger Workplaces for a Stronger Economy Act, 2014, passed third reading with all party support in the Ontario legislature. 

The new act supports Ontario's Poverty Reduction Strategy, and is designed to further increase protections for vulnerable workers. The act will help workers by:

  • Tying future minimum wage increases to the Consumer Price Index for Ontario which will be announced by April of each year, and come into effect on Oct.1
  • Ensuring Occupational Health and Safety Act coverage for unpaid co-op students and other unpaid learners , which will give them protection under the OHSA such as the right to know about workplace hazards and the right to refuse unsafe work
  • Eliminating the $10,000 cap on the recovery of unpaid wages through Ministry of Labour orders to pay and increasing the period of recovery to two years
  • Expanding employment protections to cover all foreign employees who come to Ontario under an immigration or foreign temporary employee program
  • Holding temporary help agencies and their employer clients accountable for certain employment standards violations, such as failure to pay regular wages, overtime pay, and public holiday entitlements.

Protecting vulnerable workers and making the minimum wage fair is part of the government's economic plan for Ontario. The four-part plan is building Ontario up by investing in people's talents and skills, building new public infrastructure like roads and transit, creating a dynamic, supportive environment where business thrives, and building a secure savings plan so everyone can afford to retire.

“Taking the politics out of setting the minimum wage provides fairness for workers and predictability for businesses. This legislation will also protect the most vulnerable workers and level the playing field for employers who play by the rules. These are the right steps to take; they will make Ontario a better place to work and run a business.” Kevin Flynn, Minister of Labour