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MNI: Canadian Firms See Record 3.7% Wage Increases

(MNI) Ottawa
OTTAWA (MNI)

Wage increases expected by small Canadian firms climbed to the highest level in data back to 2009.

Small businesses predict record wage increases and near-record price gains over the next year, according to a Canadian Federation of Independent Business survey published Thursday.

Expected wage increases climbed to 3.7% from 3.5% in May, the highest in in CFIB data back to 2009. The measure has climbed from 2.8% in January and 1.7% in May 2021. Almost a quarter of firms in the latest survey expect wage increases of at least 6%.

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Small businesses predict record wage increases and near-record price gains over the next year, according to a Canadian Federation of Independent Business survey published Thursday.

Expected wage increases climbed to 3.7% from 3.5% in May, the highest in in CFIB data back to 2009. The measure has climbed from 2.8% in January and 1.7% in May 2021. Almost a quarter of firms in the latest survey expect wage increases of at least 6%.

Keep reading...Show less