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Canada April Wage Growth Quickens But Distorted By Base Effect

CANADA
  • StatsCan says Thurs seasonally adjusted payroll employment wages +2.9% YOY in April vs +1.8% in March
  • Agency says base effect after earlier wage surge distorted March wage figure
  • Employment -25.1K in April (-0.1%) excluding public sector strikes which drive the figure to -140k. YOY April is up +319k.
  • Avg weekly hours little changed MOM at 33.1. YOY hours worked -0.9%
  • BOC hiked earlier this month and officials said they are watching for signs of entrenched inflation and wage gains

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