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 in Canada doesn't look to adding any inflationary pressure to the economy, which will be welcome news for policymakers keeping an eye on elevated fuel prices.
Average hourly wages rose by 2% on-year in August, which is much softer than consumer price inflation that has accelerated to 3% and the…