Bussiness

Check Canada’s Average Weekly Earnings As Per New StatCan Report

Published

6 months ago

June 29, 2024

Admin

Check Canada’s Average Weekly Earnings As Per New StatCan Report

1 vote, average: 5.00 out of 5 (1 votes, average: 5.00 out of 5)
You need to be a registered member to rate this.

Loading…
Last Updated On 29 June 2024, 9:37 AM EDT (Toronto Time)

The sectoral average weekly earnings in Canada increased by 3.7% to $1,240 year over year in April, following a 4.1% increase in March.

As per the Statistics Canada report released on June 27, the increase in average weekly earnings can be attributed to a variety of factors, such as changes in wages, the composition of employment, the number of hours worked, and the impact of the base year.

This weekly average earnings were at $1,204 in June 2023.

April was the third consecutive month in which the number of employees receiving pay and benefits from their employer decreased by 22,700 (-0.1%), while the number of job vacancies decreased by 32,000 (-5.3%) to 575,400.

April saw monthly payroll employment declines in 8 out of 20 sectors, with manufacturing (-6,000; -0.4%), administrative and support, waste management and remediation services (-5,200; -0.6%), and accommodation and food services (-4,800; -0.4%) leading the way.

Following decreases in March (-2,300; -0.1%) and February (-8,400; -0.4%), retail trade payroll employment further decreased in April 2024 (-4,200; -0.2%).

In April, payroll employment in the trade sector decreased by 19,600 (-1.0%) on a yearly basis.

The payroll employment in health care and social assistance increased by 5,700 (+0.2%), continuing the upward trend that has been in place since September 2022.

This period has seen a cumulative gain of 149,600 (+6.7%).

In April, the number of job vacancies decreased by 32,000 (-5.3%) to 575,400, which is the third consecutive monthly decrease.

Sectors	April 2024	March 2024	Month-on-Month Change	Year-on-Year change
Average for all sectors	1240.18	1234.94	0.42%	3.69%
Wholesale trade	1545.50	1472.87	4.93%	8.38%
Mining, quarrying, and oil and gas extraction	2397.01	2320.93	3.28%	3.15%
Other services (excluding public administration)	1080.29	1064.72	1.46%	6.41%
Utilities	2145.11	2117.98	1.28%	0.81%
Manufacturing	1325.82	1313.10	0.97%	0.89%
Health care and social assistance	1121.61	1112.10	0.86%	8.28%
Transportation and warehousing	1298.87	1290.29	0.66%	3.81%
Public administration	1587.31	1577.51	0.62%	3.28%
Construction	1495.64	1486.59	0.61%	-0.24%
Real estate, rental and leasing	1261.81	1255.47	0.50%	1.28%
Forestry, logging and support	1368.20	1367.84	0.03%	-3.90%
Professional, scientific and technical services	1744.37	1746.75	-0.14%	2.31%
Information and cultural industries	1702.69	1706.17	-0.20%	4.52%
Arts, entertainment and recreation	756.64	758.53	-0.25%	9.31%
Accommodations and food services	494.79	497.39	-0.52%	3.98%
Administrative and support, waste management and remediation services	1051.45	1059.64	-0.77%	3.81%
Finance and insurance	1600.95	1614.09	-0.81%	0.40%
Educational services	1212.61	1223.11	-0.86%	1.45%
Retail trade	741.99	750.52	-1.14%	5.97%
Management of companies and enterprises	1775.27	1810.81	-1.96%	6.85%

Average weekly earnings in Canada

Average Weekly Earnings by Province

The number of job vacancies in Ontario (-13,900; -6.5%), Alberta (-11,500; -14.7%), Manitoba (-3,500; -15.6%), and Prince Edward Island (-1,000; -37.2%) decreased in April.

The remaining six provinces experienced minimal change.

monthly change in average hourly wages was highest in Yukon and Alberta as compared to other provinces.

Provinces and territories	April 2024	March 2024	Month-on-Month Change	Year-on-Year Change
Yukon	1441.64	1419.63	1.55%	5.38%
Alberta	1317.98	1298.15	1.53%	2.37%
Newfoundland and Labrador	1232.85	1220.66	1.00%	4.56%
Manitoba	1138.33	1127.42	0.97%	3.78%
Prince Edward Island	1063.58	1055.90	0.73%	6.15%
Nunavut	1668.92	1659.83	0.55%	0.60%
Saskatchewan	1199.90	1195.15	0.40%	3.14%
Ontario	1271.04	1267.32	0.29%	3.41%
Nova Scotia	1106.36	1103.25	0.28%	4.22%
Northwest Territories	1664.97	1660.77	0.25%	3.63%
British Columbia	1258.20	1255.52	0.21%	4.63%
Quebec	1181.70	1183.61	-0.16%	3.78%
New Brunswick	1118.20	1129.76	-1.02%	2.15%

Provincial Average Weekly Earnings in Canada

Job Vacancies Decrease

Job vacancies decreased by 223,400 (-28.0%) in April 2024 when contrasted with April 2023.

In April 2024, the number of unemployed individuals per job vacancy increased from 2.2 in March to 2.3.

The unemployment-to-job vacancy ratio in April increased significantly, primarily due to a decrease in the number of job vacancies (-32,000; -5.3%).

The number of unemployed individuals (as reported by the Labour Force Survey) remained substantially unchanged in April.

In April 2024, the number of vacant positions in the retail trade sector decreased by 5,200 (-8.6%) to 55,100.

This was the second consecutive monthly decline, and it led to the lowest number of employment vacancies since November 2019 (54,800).

In April 2024, there were 29,900 fewer job openings in this sector than in April 2023, a decrease of 35.2%.

What is the unemployment rate in Canada?

According to the most recent data from Statistics Canada, the unemployment rate in Canada has increased to 6.2% as of May 2024.

What is the rate of employment vacancies in Canada?

The aggregate job vacancy rate in Canada is now 3.2%, which is defined as the number of vacant positions as a proportion of the total labour demand (the total of filled and vacant job positions).

Gagandeep Kaur Sekhon moved to Canada in 2010 on a study visa. She navigated through the ups and downs of her student life and gained her permanent residency in 2015. Today, she is a proud Canadian citizen residing in Calgary, Alberta. She is mother of 2 beautiful daughters and making her difference through writing and guidance at INC – Immigration News Canada.