Originally Posted by StevieC
Yes I know they are "Left" biased like Huff-Po, but the bank did the study and that is what matters. Also can't argue with Goverment statistics... So...
As for automation... This is inevitable across all sectors but despite this being implemented the unemployment rate still fell to the lowest level in 18 years after the hike.
Minimum wage earners spend the most back into the economy so it really does benefit everyone if they are paid more.
Do they spend the most or do they spend the most (percentage-wise) of their income? It goes to reason that they would obviously spend more of what they earn because they aren't squirrelling money away into RSP's and the like, but I have a hard time imagining somebody who makes 20K a year putting more back into the economy than I do considering what i pay for property taxes, fuel, vehicles, services, food...etc. My dad's paying taxes on three properties, hydro on three properties and my mom's shopping could likely support an entire family on assistance
Regarding Ontario, the unemployment rate had been steadily decreasing up to the point of the wage increase. It bottomed out at 5.5% in August of 2017, up to 5.8% in October, back to 5.5% in November and then stayed around the 5.5% mark before trending back up in April to 5.6%, ending up at 5.9% in June of 2018:
Immediately after the increase, employment decreased with the biggest groups affected being part-time, youth and seniors:
https://www.ontario.ca/page/labour-market-report-january-2018
Originally Posted by Ontario
There was a loss in part-time jobs (59,300) in January. Full-time jobs increased by 8,500.
Youth employment (those aged 15 to 24) declined by 25,800 jobs in January, following a decline of 4,600 jobs in December.
People ages 25 to 54 saw an increase in employment of 5,600 in January compared to December. Those aged 55 and older lost 30,600 jobs.
A small number of those were regained in February:
Originally Posted by Ontario
There was a gain in part-time jobs (18,100) in February. Full-time jobs declined by 2,500.
Youth employment (those aged 15 to 24) was unchanged in February, following a decline of 25,800 jobs in January.
People ages 25 to 54 saw an increase in employment of 25,900 in February compared to January. Those aged 55 and older lost 10,600 jobs.
Part-time declined in March, though youth appeared to recover. Seniors continued to lose jobs:
Originally Posted by Ontario
There was a gain in full-time jobs (16,300) in March. Part-time jobs declined by 5,700.
Youth employment (those aged 15 to 24) increased by 29,900 in March, after remaining unchanged in February.
People aged 25 to 54 decreased in employment by 11,900 in March compared to February. Those aged 55 and older lost 7,400 jobs.
Ultimately this is where we ended up in December:
We seem to have plateaued.
Also, I think this graphic is valuable:
As it shows those with lower levels of education were affected negatively.
This graphic shows the types of work:
With the sales/service jobs being discussed amongst the most affected by the increase. By far, those that made off the best: Business, Finance and Admin, those that are not making anywhere remotely near minimum wage, appear to have benefited the most.