In 1981, the 50 dollars I got from my grandma is worth the equivalent of 111 dollars now.  You can calculate this here:

http://www.bankofcanada.ca/en/rates/inflation_calc.html

So how do our wages reflect this figure?  Well, minimum wage was $3.50 in 1981 which means that at the rate of inflation, being as it’s $8.00 now, our burger flippers and gas jockeys in Ontario have gotten a little over 23 cents in the last 26 years.  These figures are here:

http://srv116.services.gc.ca/wid-dimt/mwa/menu.aspx

Now, these figures being as closely linked as they are can only mean one thing:  Fast food chains control the rate of inflation.

This entry was posted on Friday, September 21st, 2007 at 11:05 pm and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.