Bloomberg News

Canada Earnings Grew Slowest in Almost 2 Years in September

November 24, 2011

(Updates with Ontario wages in fourth paragraph.)

Nov. 24 (Bloomberg) -- Canadian average weekly earnings rose at the slowest pace in almost two years in September, government figures showed.

The paychecks of non-farm payroll employees rose 1.1 percent from a year earlier, the least since October 2009, according to Ottawa-based Statistics Canada. The average workweek was little changed at 33 hours in that period.

Wages have trailed inflation partly because labor productivity growth has been poor over the last few years, Bank of Canada Governor Mark Carney told reporters yesterday in Montreal. The central bank estimated last month the economy’s potential can grow by just 2 percent, based on increases in labor input and productivity.

Wages in Ontario, Canada’s most populous province, fell 1.3 percent in September from a year ago, Statistics Canada said today.

The number of employees on payrolls rose by 47,900 in September from August to 15.1 million, a gain of 0.3 percent, Statistics Canada said. The increase from a year ago was 1.8 percent.

The agency’s main employment report, the labor force survey of households, reported a job gain of 60,900 in September and a loss of 54,000 in October. It also reported year-over-year inflation rates of 3.2 percent for September and 2.9 percent for October.

--Editors: Paul Badertscher, David Scanlan

To contact the reporter on this story: Greg Quinn in Ottawa at gquinn1@bloomberg.net

To contact the editors responsible for this story: David Scanlan at dscanlan@bloomberg.net; Chris Wellisz at cwellisz@bloomberg.net


Tim Cook's Reboot
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus