Canada Sees Steady Increase in Average Weekly Earnings Despite Employment Shifts

In a positive economic development, Canada experienced a 3.7% increase in sectoral average weekly earnings in April, reaching $1,240, according to a Statistics Canada report released on June 27.

This follows a 4.1% increase in March and reflects a healthy rise from $1,204 in June 2023. The growth in average weekly earnings is attributed to improvements in wages, changes in the composition of employment, increased hours worked, and adjustments from the base year.

Average Weekly Pay and Benefits

While there was a slight decrease in the number of employees receiving pay and benefits, with a reduction of 22,700 (-0.1%) in April, the Canadian workforce continues to show resilience. The number of job vacancies decreased by 32,000 (-5.3%) to 575,400, indicating a tightening of the job market, which could lead to better opportunities for job seekers.

Average Weekly Earnings and Payroll Employment by Sector (April 2024 vs. March 2024)

Despite some declines in payroll employment in 8 out of 20 sectors, including manufacturing, administrative and support services, and accommodation and food services, several sectors demonstrated robust growth.

The health care and social assistance sector, for instance, saw an increase of 5,700 (+0.2%) in payroll employment in April, continuing its positive trend since September 2022, with a cumulative gain of 149,600 (+6.7%).

Average weekly earnings showed promising increases across various sectors. Wholesale trade saw a significant monthly rise of 4.93% to $1,545.50, while the mining, quarrying, and oil and gas extraction sector experienced a 3.28% increase to $2,397.01.

Other sectors, such as public administration and manufacturing, also enjoyed modest gains in average weekly earnings, highlighting the diverse growth across the economy.

• Average for all sectors: $1,240.18 (up 0.42%)
• Wholesale trade: $1,545.50 (up 4.93%)
• Mining, quarrying, and oil and gas extraction: $2,397.01 (up 3.28%)
• Other services (excluding public administration): $1,080.29 (up 1.46%)
• Utilities: $2,145.11 (up 1.28%)
• Manufacturing: $1,325.82 (up 0.97%)
• Health care and social assistance: $1,121.61 (up 0.86%)
• Transportation and warehousing: $1,298.87 (up 0.66%)
• Public administration: $1,587.31 (up 0.62%)
• Construction: $1,495.64 (up 0.61%)
• Real estate, rental and leasing: $1,261.81 (up 0.50%)

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Average Weekly Pay/Earnings by Province (April 2024 vs. March 2024)

The monthly change in average hourly wages was highest in Yukon and Alberta, demonstrating strong regional growth.

• Yukon: $1,441.64 (up 1.55%)
• Alberta: $1,317.98 (up 1.53%)
• Newfoundland and Labrador: $1,232.85 (up 1.00%)
• Manitoba: $1,138.33 (up 0.97%)
• Prince Edward Island: $1,063.58 (up 0.73%)
• Nunavut: $1,668.92 (up 0.55%)
• Saskatchewan: $1,199.90 (up 0.40%)
• Ontario: $1,271.04 (up 0.29%)

Job vacancies saw notable decreases in several provinces, including Ontario, Alberta, Manitoba, and Prince Edward Island, suggesting a more competitive job market. However, the remaining provinces experienced minimal changes in job vacancies.

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Overall, Canada's economy is showcasing resilience and adaptability, with positive trends in average weekly earnings and sectoral growth, signaling a promising future for the nation's workforce

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