Tuesday, July 17, 2007

Y2ThisTimeIt'sDifferent

I wonder if this had anything to do with the US run-up in housing prices and subsequent crash? No wonder that Ontario-based manufacturers are crying foul at interest rate hikes. Not to be left out, I bet a similar graph would demonstrate Oil & Gas-related skilled trades positions receiving similar disproportionate pay in comparison to University Professors. No wonder why RE prices are headed upward in Alberta, Saskatchewan and NE BC.

But of course, this is sustainable, non?

2 comments:

Lucky Luke said...

Re:Blog Chart.

You gotta question those averages though. Seriously, does that take into consideration that the CEOs (and other senior executives) of those big corps made gajillions each year?

The big 3 CEOs have taken home between 10-25 million/year.

http://www.larouchepub.com/other/2005/3234auto_execs.html


I seriously doubt some assembly line guy makes anywhere near $100,000, let alone $150,000. A lot of these people don't have any kind of degree. They just left highschool one Friday, and got a job on Monday at the factory.

$30,000-$60,000 would be a more believable average. There's also a few examples out there of major downsizing & pays being clawed in 1/2 in the auto industry, mostly due to robotic optimizations in assembly lines & centralization of production where the cheap labour is.

http://www.indystar.com/apps/pbcs.dll/article?AID=/20070715/BUSINESS/707150307/-1/LOCAL17

University's don't usually have CEO's and their equivalents make $300,000 tops. The $93,000 average for University Profs sounds about right though.

LuckyLuke

Anonymous said...

I agree. Those "average" wages sound way out to lunch to me. If they're not, I'm packing my bags tonight and applying.