Average hourly wages among Canadian employees rose to $34.95 on a year-over-year basis in April, a 4.7 per cent increase, according to a Statistics Canada report released Friday morning.
Canada’s economy added five times the number of jobs that were forecast for April and the unemployment rate unexpectedly held at 6.1 per cent, but wages grew at the slowest pace in 10 months, data showed on Friday.
The economy added a net 90,400 jobs while analysts polled by Reuters had forecast a gain of 18,000 jobs and the unemployment rate to rise to 6.2 per cent.
The gains - largest since the 110,000 jobs added in January 2023 - were a mix of part-time and full-time work, and entirely in the services-producing industries, data from Statistics Canada showed.
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This is the source of the data for the title of the article, it should answer a lot of the speculative comments in this post.
Table 14-10-0063-01 Employee wages by industry, monthly, unadjusted for seasonality
Also people are significantly associating hourly wage with total annual income much more than it needs to be.