News Briefs

Top CEOs earned $7.3 million in 2008; N.W.T. increases minimum wage to $10; Booklet directs employers to hiring supports
|Canadian HR Reporter|Last Updated: 02/22/2010

Top CEOs earned $7.3 million in 2008

Toronto — Canada’s 100 highest paid CEOs pocketed an average of $7.3 million in 2008, according to a report from think tank Canadian Centre for Policy Alternatives (CCPA). Soft Landing: Recession and Canada’s 100 Highest Paid CEOs shows Canada’s top CEOs earned 174 times more than the average Canadian wage and executive compensation remains resilient to worldwide economic forces. Between 1998 and 2008, Canada’s top 100 CEOs’ average compensation outpaced inflation by 70 per cent, according to CCPA. In contrast, Canadians earning the average income of $42,305 a year lost six per cent to inflation over the same period.

N.W.T. increases minimum wage to $10

Yellowknife — The minimum wage in the Northwest Territories will increase to $10 an hour by April 1, 2011. The increase will be introduced in two phases, with the minimum wage increasing to $9 an hour on April 1, 2010, and to $10 on April 1, 2011. The increased wage recognizes the higher cost of living in the North and puts the territory more in line with other regions of Canada, said Minister of Education, Culture and Employment Jackson Lafferty. The government has launched a public awareness campaign to inform employers and employees about the increases.

Booklet directs employers to hiring supports

Toronto — A new booklet from the Ontario Network of Employment Skills and Training Projects gives Ontario employers information on available hiring and training subsidies. The Ontario Employer Incentives booklet contains information on various subsidies, including those for hiring students and people with disabilities, and includes eligibility criteria and links to further information. The incentives, in the form of grants, wage subsidies and tax credits, are available through federal, provincial and municipal governments as well as non-governmental organizations. The booklet is available at www.cpisc-csic.ca/eng/pdf/Ontario%20Employer%20 Incentives.pdf.

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