Wage growth might be nearing a peak as the Canadian labour market shows underlying signs of easing, according to one economist.
That's because one economist says wage growth in Canada is likely near the top after almost a year of above-average pay increases. Canada's job vacancy rate was 4.8 per cent in the fourth quarter last year, and while that's still above pre-pandemic levels, it marked a slowdown from the previous quarter when the rate was 5.6 per cent.Between September and March, 383,000 more jobs were addedHowever, Brown notes job vacancies in white-collar service sectors in particular, such as professional services and information technology, are starting to fall.
Average wage growth remained above five per cent between March and last June in all but one month, Statistics Canada data show. The latest wage growth figure for April will be released on Friday in the Labour Force Survey.