Canada average weekly earnings
- Average weekly earnings year on year up 4.3% vs. 2.14% last month (revised from 2.37%). This compares to a year on year CPI gain of 6.7%
- The monthly gain +0.9% compared to February
- utilities recorded the largest year-over-year increase of 11.7% to $2011
- finance insurance rose 12.1% to $1625
- professional and scientific and technical services increased 8% to $1633
- arts entertainment recreation fell -4.2% to $693. This was the only sector reporting year-over-year decrease in average weekly earnings
- average weekly hours worked were little changed in March at 31.3 hours per week. This is up 2.5% from pre-pandemic levels. Salaried employees worked to 37.1 hours per week up 0.7% compared to February 2020
Job vacancies reached an all-time high level
- Job vacancies (see chart above) reached an all-time high of 1,012,900
- Vacancies increased by 22.6% to 186,400 in the month and were up 60.5% to +382,000 from March 2021
- job vacancy rate which measures a number of vacant positions as a portion of all positions was 5.9% matching the record high observed in September 2021
- there are a record number of job vacancies in healthcare and social assistance and construction
- vacancies were up in all the provinces
With inflation higher than earnings, people's real earnings are lower.
The labor market remains tight with job vacancies reaching an all-time high indicative of employees trouble in finding workers
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