Canada wage growth cools; hourly pay rises 2% YoY in August
Average hourly wages in Canada rose 2% year-on-year in August, a softer pace than consumer price inflation, which has accelerated to 3%. Market talk links the slowdown to easing inflation pressure.
Pay growth in Canada is not adding inflationary pressure to the economy, a development that will be welcome for policymakers watching elevated fuel prices. Average hourly wages rose 2% year over year in August, below consumer price inflation, which accelerated to 3% and the…