Canadian workers saw their average hourly wages climb to $35.68 in November, marking a 4.1% increase ($1.40) compared to the same period last year, according to the latest labor market data. This follows a stronger wage growth of 4.9% recorded in October.
The wage increase comes amid a mixed employment landscape, with Canada adding 51,000 jobs in November, representing a modest 0.2% growth. The unemployment rate edged up to 6.8%, as more Canadians entered the job market seeking employment.
Several sectors demonstrated robust job creation, including wholesale and retail trade, construction, and professional services. However, manufacturing, transportation, and natural resources sectors experienced job losses.
The wage growth trend suggests employers are continuing to raise pay rates to attract and retain workers in a competitive labor market. While the pace of wage increases has moderated slightly from October's 4.9% growth, the sustained rise in earnings provides Canadian workers with additional purchasing power amid ongoing economic pressures.
Regionally, employment gains were concentrated in Alberta, Quebec, Manitoba, and Prince Edward Island, while other provinces showed little change in their employment figures.
Despite the steady rise in wages, total hours worked remained relatively stable in November, showing a minor decline of 0.2%, though they remained 1.9% higher compared to the previous year.