Coming up short
Wage growth outpaced by inflation in November
By Rob Roach, ATB Economics 27 January 2023 1 min read
New survey results from Statistics Canada show that seasonally-adjusted average weekly earnings (including overtime) across all sectors in Alberta were 3.8% higher in November 2022 than the same month in 2021.
Consumer prices, however, rose by 6.6% in Alberta over this period (unadjusted).
Nationally, wages increased by 4.2% on a year-over-year basis while inflation was running at 6.8%.
Average earnings were up in every province in November compared to 12 months earlier. Newfoundland and Labrador posted the largest increase at +6.5% while Saskatchewan posted the smallest at +3.7%.
Alberta continues to have the highest average weekly earnings of any province.
When the numbers are broken down by industry, average earnings in Alberta were up the most on a year-over-year basis in the real estate and rental and leasing sector at +13.8% followed by the oil and gas sector at +11.8%.
The arts, entertainment and recreation sector was at the other end of the spectrum at -8.9% followed by the administrative and support, waste management and remediation services sector at -2.8%.
Answer to the previous trivia question: Known as Stornoway, the official residence of Canada’s Leader of the Opposition is (not including the outbuilding) 9,500 square feet or 883 square metres.
Today’s trivia question: Who was the highest paid actor of 2022?