Winners and losers for wage growth – NB 2003-2011

I find this stuff very interesting.  I know there are a number of ways to slice this and various influences but it is interesting to see which occupations and industries have done well and no so well in terms of average weekly wage growth before and after the recession.

Overall, in typical NB style, the recession didn’t have much effect on wage growth trends.  From 2003 to 2007, wage rates grew by 15%  and from 2007 to 2011 they grew by 15%.  But, there were big winners and losers.

Senior management occupations saw a sharp increase since the recession as did sales and service occupations, wholesale, insurance and related occupations.  Financial and clerical wages also went up much faster post 2007 than pre 2007.

On the downside, professional occupations in business and finance saw only modest wage growth since 2007 – Wall Street impacts hitting home up here?  Check out health occupations.  After well above average growth rates for years – going back to the late 1990s, health care occupations are among the worst for wage growth since 2007.

 


Average Hourly Wage Growth 2003 to 2011 by Occupational Group – New Brunswick

Includes overtime and both full and part time employment.  Source Statistics Canada.

 

On an industry basis, the goods producing sector continues to suffer the effects of recession.  Wage growth has been below average for all industries in the goods producing sector.  On the services side, transportation and warehousing is witnessing strong wage growth as is the finance and insurance industry.  Because professional occupations in business and finance are not doing well (chart above), the wage growth must be among non-professional staff (theory).

A couple of other interesting industry wage trends.  Check out business, building and other support services.  This is where the call centre industry sits (for the most part).  It looks like the lower end wage jobs are going away and that is pushing up the overall average.   Interesting that public administration wage levels have grown more strongly since 2007 given what is happening in allied public sectors – health care and education.


Average Hourly Wage Growth 2003 to 2011 by Industry Group – New Brunswick

Includes overtime and both full and part time employment.  Source Statistics Canada.

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