New guide compares purchasing power of workers in 73 cities
The purchasing power of Toronto workers is one of the highest in the world according to an alternative Big Mac Index, published by UBS this week. Unlike the traditional index, which compares the cost of McDonald’s notorious double-decker burger, the new one measures how long it takes workers to earn enough to buy one. According to the guide, which ranks 73 cities worldwide, it takes just 12 minutes to make enough to purchase a Big Mac in Toronto, Chicago and Tokyo—compared to more than two hours of labour in Nairobi, Jakarta and Mexico City.