Wage growth is especially weak for those who haven’t switched jobs over the pandemic, a new report says
Around two-thirds of Canadians have seen inflation outpace their wage gains over the pandemic, translating into an effective pay cut for millions of workers, a new report finds.
Alongside the inflationary surge, employers have gone on a hiring spree, sending Canada’s unemployment rate to a record low of 5.3 per cent in March. But even with a tight labour market and companies’ insistence that workers are difficult to come by, wage growth has generally been meagre over the pandemic.
The report said that workers with shorter tenures have pocketed larger wage gains, a sign of the upside to switching jobs in a tight market.
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