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Economic Viewpoint

The Bottom Line on Canadian Wage Growth

June 1, 2017
François Dupuis, Vice-President and Chief Economist • Jimmy Jean, Senior Economist

Job creation is doing well in Canada right now. However, growth in hourly wages, as compiled by Statistics Canada’s Labour Force Survey (LFS), rather tell the story of a disaster currently unfolding in wages. This Economic Viewpoint carries out a counter-verification of the message sent by this survey. We determine that all considered, there is nothing to be alarmed about. Nevertheless, the current experience of several developed countries suggests that even with improving employment, we will need to cope with modest wage growth, which is not without its share of detrimental consequences.

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