According to the most recent data released on March 28, 2024, Canadian average weekly earnings experienced a slight decline in January 2024 compared to the same period the previous year. The average weekly earnings indicator stopped at 3.9% in January 2024, down from 4.46% in December 2023.
The comparison, which is year-over-year, shows a decrease in the growth rate of average weekly earnings in Canada. While the difference is modest, it indicates a slowdown in the rate of increase in earnings from the previous year.
These figures provide valuable insights into the labor market trends in Canada and offer a glimpse into the economic landscape of the country. Economists will continue to monitor these indicators closely to assess the overall health of the Canadian economy and its impact on individuals and households.
