Employers in Saskatchewan are rapidly closing in on a new milestone.
One of a basketful of metrics we use to track the labour market is wage rates. Now, these are generally the pay packets for people who are on hourly work arrangement. And the figures also include any overtime that might be picked up by employees.
We use this figure along with the unemployment numbers and job vacancies to get a sense of how the interaction between workers and employers is playing out. Is talent in short supply? Are jobs scarce, or are things in balance?
We have just received the weekly average wage package for January and Saskatchewan is closing in on second spot in the country. For a few years now, our workers enjoyed the third-highest paid status in the country behind top-ranked Alberta and second-ranked Newfoundland. But we have almost closed the gap with Newfoundland, so Saskatchewan will likely surpass it in the next few months as we currently sit at $1,033 a week, which is $17 (or nearly two per cent) higher than in January a year ago.