Paycheques getting bigger at a faster pace
The average weekly paycheque of a salaried Canadian worker was $907.19 in August, a slight increase from the previous month's level but 3.6 per cent higher than the same month a year earlier.
Statistics Canada reported Thursday that the hike in gross pay was due to several factors including higher salaries per hour worked but also an increase in the number of hours worked. The average workweek of a non-farm salaried Canadian worker was 33.1 hours in August, up from 32.9 during the same period a year ago.
The 3.6 per cent annual gain is the largest pace of increase we've seen since early 2011, when it was 4.1 per cent. For comparison purposes, Canada's inflation rate currently sits at 1.2 per cent.
Pay gains were above average in three sectors: professional, scientific and technical services; accommodation and food services; and construction.
The only sector to post a decline in average earnings was the administrative and support services segment. The average weekly paycheque of those workers was $724.03.
Regionally, the average weekly paycheque was bigger in every Canadian province but notably above the national average in Newfoundland and Labrador and Saskatchewan.
The average weekly paycheque was $942.31 and $938.57, respectively, in those two provinces.