At a Glance
FROM: JAN-FEB 2008 ISSUE
“The personal savings rate in Canada has dropped from its highest level of 20 per cent in 1982 to its lowest of 1.2 per cent in 2005.”
Where Does the Money Go: The Increasing Reliance on Household Debt in Canada, CGA-Canada.
Salaries Projected to Grow
Whether you carry coins or bills, you can expect to see more dollars in your pocket this year. According to business consultancy firm, Hay Group, a recent poll of 550 Canadian employers in both the public and private sectors indicates base salaries are expected to rise an average of 3.8 per cent in 2008. By province, the biggest increases are expected in Alberta at 4.9 per cent, followed by Saskatchewan at 4.6 per cent. The sector expecting the biggest salary increases is oil and gas at 5.3 per cent.
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A $5 Coin for Canada
Is a $5 coin in the works at the Bank of Canada? Some say we may see a coin of this nature in our currency system somewhere in the next three to five years. But before that happens, the Department of Finance would have to consult both the Bank of Canada and the Royal Canadian Mint. Finance representatives say that is yet to happen, so $5 bills may be around a little longer.
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Polish Your Brand
Never tried “ego surfing”? Then perhaps you should. The folks at Twist Image advise googling yourself – and checking other search engines while you’re at it – on a monthly basis to see what comes up. Polishing your online image and carefully guarding your digital brand will increase your job opportunities.
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Accounting Talent Crunch Continues
Accountants and finance professionals remain in high demand worldwide says a study by Robert Half International. While the situation is most severe in Asia, Canada is also experiencing a hot market for accountants. For management roles, Canadian respondents said their firms are taking six weeks on average to fill open positions, two weeks less than the global average of eight weeks.
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