Inflation Affects Your Cost of Living. IBEW Wages Keeps You Ahead

April 14, 2022

Inflation, inflation, inflation.

It’s something we all hear about every day in the news. Normally, a little inflation is relatively healthy for an economy.

But these aren’t normal times.

We’ve been through a lot over the last two years, and we’re dealing with many external factors impacting our income.

The global pandemic affected our communities. The economy deflated. Interest rates are now growing. The catastrophic war in eastern Europe began. But now, inflation is pushing some prices even higher. This puts a lot of pressure on working families when paychecks are worth less than they were a year or two ago.

How Inflation Affects Your Cost of Living

High inflation is essentially a period when prices go way, way up.

When the rising costs of gas, groceries and everyday goods skyrocket, your dollar doesn’t go as far as it once did for you.

According to the Consumer Price Index, Canadian inflation surpassed 5% for the first time since September 1991, rising 5.1% on a year-over-year basis. This is the fastest pace since the introduction of the index in 1999!

Union membership helps protect your earnings against surging inflation, and put you in a position for long-term growth and stability.

Wages Need to Keep up with Inflation

The pandemic altered the labour market and inflation is driving prices to new highs. If wages stay the same, the impact of inflation hits hard. This can lead to burnout and an ever-increasing labour shortage. This circumstance highlights the importance of strong labor laws needed to protect workers and their families from these harsh economic impacts.

Compared to their non-union counterparts, IBEW workers can rely on:

A predictable schedule,
Greater job stability,
More hours,
Stronger job satisfaction,
Better pay,
Flexible benefits,
Fair grievance procedures, and
Training opportunities.

There’s never any guesswork when it comes to your wages. Want to see the current wage package in your area?

Select the community nearest you to find out how much you can earn.

A Livable Wage is Important to You and Your Family

The IBEW advocates on behalf of all our Ontario locals to ensure that wage and benefits packages are sufficient to raise healthy families, live by middle-class standards, and enjoy a well-deserved retirement. As a result, our wages have consistently kept pace with the cost of living. In fact, the IBEW recently finalized a deal with the Electrical Contractors Association of Ontario, securing an 8.8% wage increase over the next three years.

When you consider the complete wage package that includes health benefits, retirement savings, overtime and life insurance, your net pay goes even further.

Collective Bargaining Represents Your Best Interest

The IBEW has been around since 1891. Our legacy is built on caring for our members and their families. We put you in a position for success by investing in your skills while negotiating for higher wages through our collective agreements. Our wages keep up with inflation so you can retain your purchasing power as the cost of living rises.

Joining the IBEW gives you a voice. There is power in numbers and collectively we negotiate for our workers’ rights to a safe workplace and a financially secure future.

Have a question on how you can be a member? All inquiries are confidential.