Canada: Wage growth in focus in labour report - Scotiabank

Today brings out another batch of Canadian job market figures for the month of May and the key thing to watch has increasingly become wage growth and it could well be bottoming suggest analysts at Scotiaank.

Key Quotes

“Recall that the April figures hit the lowest rate of wage gains since the revised Labour Force Survey has tracked them starting in 1998. You can call it a record low if you wish, but I’m pretty sure there were nastier episodes (hint: think tumbleweeds and farm foreclosures). If this May performs anywhere in keeping with the historic norms for the month of May when seasonally unadjusted wages dip in month-ago terms by a fairly modest amount, then we could be carving out a bottom in year-ago wage growth terms.”