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Canada Payroll Earnings Remain Elevated In Oct

CANADA DATA
  • Canadian average weekly earnings +4.0% YOY in Oct according to StatsCan's secondary payrolls report released Thursday. That follows +3.9% reading for Sept.
  • Payrolls report comes after the agency's main Labour Force Survey and doesn't include self-employment.
  • BOC is closely tracking wage gains; officials have said elevated wage gains are inconsistent with restoring price stability especially at a time of falling worker productivity. 
  • Payroll employment decreased by 44,600 (-0.2%) in October, offsetting an increase of 36,200 (+0.2%) in September and following little variation in July and August.
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

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