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Other Wage Growth Measures Not Quite As Strong As Bloomberg Series

CANADA DATA
  • The various measures of wage growth complicate the initial takeaway from the Bloomberg calendar.
  • The series for permanent employees which Bloomberg runs the analyst survey for accelerated from 5.0% to 5.2% Y/Y in August, but the wider measure of all employees moderated marginally from 5.0% to 4.9% Y/Y.
  • Within all employees, those working full-time saw wage growth moderate from 5.2% to 5.0% Y/Y.
  • Either way, Gov. Macklem has noted that “most measures” of wage growth are yet show clear signs of moderation as they stick around 4% to 5%, so the combination of the above prints is still right at the very high end of this range.

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