November 29, 2024

Statistics Canada outlined quarterly wage growth across the country today:

Here is what that wage growth looks like in real terms over the previous year.

You can see that while slow growth in the wages across the economy continue, manufacturing growth is not so smooth. Workers in the manufacturing sectors got bumps in post-pandemic union-wage strike-driven growth, but that has been capped now by capital pushing back.

GDP in Canada continues to be flat with most industries barely growing. The one saving bump is the trade in goods preparing for potential port strikes (these are for September) and the holiday shopping season.

Economic activity continues to decline in manufacturing and oil and mining.

It will not surprise you then that investment in manufacturing in Canada is way down and real shifts in revenue and saving for Canada's corporate sector is also negative.

Not looking great.

Some graphs showing Norway cities driving EV expansion to almost 100%. There are a bunch of caveats to that data, but one thing is clear: the brands on the road are different than with ICE.