Nova Scotia’s ‘low-wage economy’ and the impact it’s having on people
Global News
The Nova Scotia public accounts standing committee heard Wednesday that the impact of low wages doesn’t just hurt the people who are struggling to live off them.
The Nova Scotia public accounts standing committee heard Wednesday that the impact of low wages doesn’t just hurt the people who are struggling to live off them.
Christine Saulnier, the director of the Nova Scotia chapter of the Canadian Centre for Policy Alternatives, told the committee that “a low-wage economy’s negative impact runs deep.”
“When we have so many people who face barriers to reaching their full potential and are not paid their worth, their lower productivity has an impact on government revenue, in lower income and consumption taxes,” she said.
“In addition, we know that earning a low wage has a negative impact on workers’ health and leaves them scrambling to cover their basic needs. We all pay for the additional public health expenses and social benefits required to fill gaps.”
She said what’s considered a low wage should be compared against the living wage — what someone needs to earn to support their family and have a decent quality of life — which is estimated to be about $22 per hour in Halifax.
Those earning $22 per hour or less represent about 50 per cent of workers in Nova Scotia, Saulnier said.
She added that the province’s low-wage economy is also marked by a lower quality of jobs.
“The lower the wages, the more likely a job is to be insecure and not come with benefits,” said Saulnier, noting that only 31 per cent of Nova Scotians who earn $25,000 per year or less have access to paid sick leave.
Dock workers in both British Columbia and Montreal have now been locked out as negotiations stall between unions and employers. Here's what that means for Canadian consumers.
Chrystia Freeland pointed to Canada's experience with incoming U.S. president Donald Trump, as well as alignment on Chinese tariffs, as helping Ottawa navigate trade negotiations.
Canadian TikTok creators fear that the federal government's decision to shut down the app's Canadian operations will erode their support system and limit earning potential.
Canada's labour market added roughly 15,000 jobs in October, enough to keep the unemployment rate steady at 6.5 per cent in the month.
A weaker Canadian dollar tied to Donald Trump's victory could be inflationary north of the border, which could make our central bank more hesitant to cut rates too quickly.
The employee was indicted for allegedly distributing personal information of TD Bank customers, the latest criminal probe to hit the U.S. arm of the Canadian financial institution.
Stock markets were rising broadly higher on news of Donald Trump's U.S. election victory on Wednesday. Here's how investors say you should adjust your portfolio.
The Bank of Canada's Carolyn Rogers says improving housing affordability ultimately requires reaching a balance between supply and demand, which she says will take time.
Donald Trump was previously a crypto skeptic but changed his mind and took a favorable view of cryptocurrencies ahead of the election.
Canadians continue to make payments on their mortgages, but there are signs of stress bubbling up on other credit products, which CMHC warns could continue to spread to home loans.
Canadians continue to make payments on their mortgages, but there are signs of stress bubbling up on other credit products, which CMHC warns could continue to spread to home loans.