Rising wages represent a complicating factor because central bankers believe they can be inflationary
, marking the seventh consecutive month that paycheques increases faster than prices, as measured by Statistics Canada’s consumer price index.last month, triple the Bay Street consensus, according to a Bloomberg survey of professional forecasters. The jobless rate was unchanged at 5.5 per cent, which is up from the recent low of around five per cent, but still a historically strong number that suggests the economy continues to have decent momentum..
Wage growth has been fuelled in part by historic job vacancies and a shortage of workers in the years following the pandemic. The shortfall gave workers more leverage to negotiate bigger salaries to combat inflation that rose to a four-decade high in June 2022. “While the headline figures will be grabbing most of the attention, we’d caution on getting too excited,” James Orlando, an economist with Toronto-Dominion Bank, said in his
e estimates that wages grew 9.4 per cent on a three-month annualized basis using seasonally adjusted data, “suggesting further acceleration in wage growth in recent months.” “With the unemployment rate off last year’s lows and expected to rise further as job vacancies continue to fall, wage inflation could ease fairly quickly next year,” Grantham said.America is now paying more in interest on its record $33 trillion debt than on national defense — here's who holds the IOUsThe Ohio Republican “knew more about what Donald Trump had planned for January 6th than any other member of the House of Representatives,” she said.
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