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Wages begin to grow again

Wages begin to grow again

Posted on: 9/27/2018 | Author: ATB Financial's Economics + Research Team

​​Paycheques of working Albertans are growing again. According to Statistics Canada, average weekly earnings for Alberta employees came in at $1,148 in July.

Although this is virtually unchanged from June, wages were up nearly 2 per cent from 12 months earlier. Take home pay of Albertans was still greater than the Canadian average. July’s figure was 15 per cent higher than the national average of $997. These figures are adjusted for seasonality and include overtime pay, but exclude taxes.

Statistics Canada notes the rise in wages was due to increased earnings in Alberta’s retail trade sector. Over the past 12 months, earnings have gone up nearly 9 per cent. Wage growth among those working in retail is due to the performance of the sector as a whole. It is also likely due to the anticipation of minimum wage increases that are set to take place on October 1st.

The growth in wages over the last 12 months is more proof that Alberta’s economy is growing once again. Many working Albertans will see thicker paycheques in the coming months as the province’s economy continues to improve and the minimum wage requirements kick in. Although some employers will be negatively affected by these changes, this rise could help continue to boost consumer confidence and nudge sectors like retail and food and beverage higher.

Average weekly earnings, graph​​

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