rb1957: no engineer should base their conclusions solely on anecdotes. Perhaps I've been guilty of doing so with respect to the UK. I don't live there and haven't studied their situation in depth by any stretch.
I do live in Canada and I HAVE studied the situation here- extensively.
You may be able to "find data to support just about anything", there are some things for which the data is collected by a reputable 3rd party and is accurate and clear. That's definitely the case for the supply statistics for engineers to the Canadian marketplace versus time which I have posted on my website.
The demand-side data is NOT clear, nor is the salary data which has been posted here. There ARE salary surveys available from our professional bodies here in Canada but they have a significant (high) reporting bias since only those who have licenses are reported, yet roughly 1/2 of Canada's engineers are unlicensed. The thousands of engineers who are unemployed or under-employed are not represented in these salary statistics, nor are they reported in the unemployment statistics available from the same sources.
But what IS clear here in Canada is that the growth in supply of engineers over the past 12 years is so enormous that no reasonable estimate of workforce demand could match it. Oversupply is clearly indicated, and it's supported by numerous secondary indicators. Anyone who weighs such data equally with a few people reporting "I'm all right, Jack" is sticking their head in the sand. They've got lots of company- most people in Canada's engineering advocacy and regulatory bodies have their heads in the sand on this issue too, as does Citizenship and Immigration Canada's bureaucracy. Our so-called federal advocacy body, teh Canadian Council of Professional Engineers, has its collective head shoved in an even darker and less pleasand place. Fortunately, the current Minister Joe Volpe has woken up to the issue and has publicly stated that the current system has supplied Canada with "...more engineers than we could hope to use."
As to comparing salaries, "comparative advantage" has to be taken into account. Cost of living in Canada is far lower than it is in the UK. But what matters most is a comparison of the relative compensation levels of occupations with similar educational and personal responsibility/accountability/liability levels. In this regard, Canadian engineers have slipped relative to the other senior professions by more than 50% in the past forty years.
This Canadian engineer isn't going to let his profession slide further into the toilet without a fight. If that costs me corus's respect, that's a very small price to pay.