Canadian wage growth climbs to highest mark since 2009: StatsCan
But the unemployment rate moved up to 5.7% as Canada shed 24,200 jobs, the agency also said.
Wage growth accelerated in July 2019 to its fastest clip in more than 10 years, a new report from Statistics Canada says.
The increase in wages – as measured by year-over-year average hourly wage growth for all employees – marked the indicator’s strongest month since January 2009.
But the news wasn’t all good last month, StatsCan said, as the unemployment rate moved up to 5.7% as Canada shed 24,200 jobs. But even with the July decline, compared to a year earlier, the numbers show Canada added 353,000 new, mostly full-time positions, for an overall increase of 1.9%.
A closer look at the numbers shows the economy lost 69,300 private-sector employee positions last month, while the public sector gained 17,500 jobs.
“While employment was little changed overall in July, it decreased in Alberta, Nova Scotia and New Brunswick, and increased in Quebec and Prince Edward Island. Employment held steady in the other provinces,” StatsCan said. “There were fewer people working in wholesale and retail trade; transportation and warehousing; ‘other services’; and natural resources. In contrast, employment increased in construction and public administration.”
The number of private sector employees fell in July, StatsCan said, while self-employment rose.
“Employment declined in July both for youth aged 15 to 24 and for women in the core working ages of 25 to 54, while it increased for core-aged men,” the agency added.