General Business Updates and News

[jeffster]

https://www150.statcan.gc.ca/t1/tbl1/en/...3610046801

Between 2012 and 2016 the economy of the KWC CMA grew by about 20%. The Canadian economy as a whole grew by 10% over the same period.

That's a large difference.

Amazing, actually, when you factor in BlackBerry biting the dust.

[jwilliamson]

Equitable Life is celebrating their 100th anniversary this year.

   

[jgsz]

Good news for Waterloo Region.

Region tops list of up-and-coming tech markets in North America

[panamaniac]

Does a 10% increase in wages over the past five years even match inflation over the same period? Seems like treading water to me.

[tomh009]

It does say "at least" but that's pretty vague.

[ijmorlan]

Does a 10% increase in wages over the past five years even match inflation over the same period?  Seems like treading water to me.

Inflation has been pretty low over the last few years. The Bank of Canada’s inflation calculator says that $100 in 2015 is $107.25 now, for a 7.25% increase:

https://www.bankofcanada.ca/rates/relate...alculator/

That being said, that means the real increase in wages is under 3% over 5 years, so not very much.

[danbrotherston]

Does a 10% increase in wages over the past five years even match inflation over the same period?  Seems like treading water to me.

Inflation has been pretty low over the last few years. The Bank of Canada’s inflation calculator says that $100 in 2015 is $107.25 now, for a 7.25% increase:

https://www.bankofcanada.ca/rates/relate...alculator/

That being said, that means the real increase in wages is under 3% over 5 years, so not very much.

Inflation has been low, if you don't include 2020 (as we aren't done yet) and go 2014-2019, numbers are even worse at 108.59...for a real wage increase of 1.4% over 5 years.

What is most interesting is this is "tech sector wages" which are already quite high, I'd be curious how the lowest percentile did, chances are they lost ground on inflation.

FWIW, my wage was well short of inflation for the first 3 years of my employment, it was...frustrating.

[panamaniac]

Inflation has been pretty low over the last few years. The Bank of Canada’s inflation calculator says that $100 in 2015 is $107.25 now, for a 7.25% increase:

https://www.bankofcanada.ca/rates/relate...alculator/

That being said, that means the real increase in wages is under 3% over 5 years, so not very much.

Inflation has been low, if you don't include 2020 (as we aren't done yet) and go 2014-2019, numbers are even worse at 108.59...for a real wage increase of 1.4% over 5 years.

What is most interesting is this is "tech sector wages" which are already quite high, I'd be curious how the lowest percentile did, chances are they lost ground on inflation.

FWIW, my wage was well short of inflation for the first 3 years of my employment, it was...frustrating.

Time to start a union drive ....  :0

[jeffster]

Does a 10% increase in wages over the past five years even match inflation over the same period?  Seems like treading water to me.

Yep..that's all we're doing. Though I work for the gov and all of our last 6 raising have been under 2% per year. Sucks, as there is no real forward movement. Gotta be thankful though because our last contract was renegotiated back in December before this whole covid crap broke out.

[Spokes]

Does a 10% increase in wages over the past five years even match inflation over the same period?  Seems like treading water to me.

Inflation has been pretty low over the last few years. The Bank of Canada’s inflation calculator says that $100 in 2015 is $107.25 now, for a 7.25% increase:

https://www.bankofcanada.ca/rates/relate...alculator/

That being said, that means the real increase in wages is under 3% over 5 years, so not very much.

But how does that compare to other industries in the same time period?

[panamaniac]

Inflation has been pretty low over the last few years. The Bank of Canada’s inflation calculator says that $100 in 2015 is $107.25 now, for a 7.25% increase:

https://www.bankofcanada.ca/rates/relate...alculator/

That being said, that means the real increase in wages is under 3% over 5 years, so not very much.

But how does that compare to other industries in the same time period?

You'd want to compare it to other booming/hiring industries (if there are any!).

[Chris]

The Record to close their downtown office. I'd link to Outline but it's not working for me.

https://www.therecord.com/news/waterloo-...pring.html

I know they were looking at re-location options in 2019 if they didn't renew at Market Square. I wonder how long Torstar keeps The Record running? I have a digital subscription so I hope it stays around.

[westwardloo]

The Record to close their downtown office. I'd link to Outline but it's not working for me.

https://www.therecord.com/news/waterloo-...pring.html

I know they were looking at re-location options in 2019 if they didn't renew at Market Square. I wonder how long Torstar keeps The Record running? I have a digital subscription so I hope it stays around.

Unfortunately I do not see this as a good sign for keeping the Record mostly local.  I wish more people would support local media, but I think it is inevitable that the record will have a few local "reporters" and the rest of the work will be done from the toronto office. This is what CTV Kitchener does. Most of the news is run through the toronto office with a couple of staff located locally. It is too bad everything has become so consolidated and centralized, if feels less personal when I know it is produced by toronto. I enjoy reading the record and feel like they are part of this regions identity, but I am probably one of the few 30 or under that know or care about their existence. It seems like a lot of things, news has been effected by globalization. Sadly, most of my friends would rather follow social media posts that will never have an effect on their lives than follow relevant local news.  

On a more positive note, with the record leaving market square, maybe this will persuade the owners to redevelop the whole site. One can dream.

[KevinL]

On a more positive note, with the record leaving market square, maybe this will persuade the owners to redevelop the whole site. One can dream.

Ah, but Conestoga College just moved in...

[westwardloo]

On a more positive note, with the record leaving market square, maybe this will persuade the owners to redevelop the whole site. One can dream.

Ah, but Conestoga College just moved in...

I am sure a phased redevelopment could be implemented. First demolition the record office space and the dead mall. Then build multi-use towers where the record building is. Conestoga college can move into the podium of one of the new buildings then demolish the parking structure and where the college is located and redevelop with mixed use buildings. Connect market lane with goudies lane and possibly a new road between scott and frederick. Maybe even include an urban square/park at the corner of king and frederick where the mall is in memory of the old city hall that once stood there.  Pure fantasy I know, just trying to think how this news could be positive for the region and the downtown.