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Un examen plus approfondi des pressions salariales au Canada

Author

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  • Dany Brouillette
  • Laurence Savoie-Chabot

Abstract

In this note, we provide a brief outline of the recent developments in wage measures in Canada. We then assess whether wage growth is consistent with its fundamentals. Our analysis indicates that wage pressures remain subdued and almost all measures show that wage growth has remained below its historical average since mid-2015. With respect to the relationship between wage growth and its fundamentals, we find that the wages and total compensation growth was weaker than expected considering the rate of unemployment observed since 2015. This is partly due to the weak labour productivity growth. Finally, we observe that pressures on domestic production costs coming from wages remain modest.

Suggested Citation

  • Dany Brouillette & Laurence Savoie-Chabot, 2016. "Un examen plus approfondi des pressions salariales au Canada," Staff Analytical Notes 16-6, Bank of Canada.
    • Handle: RePEc:bca:bocsan:16-6
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    File URL: https://www.bankofcanada.ca/wp-content/uploads/2016/07/san2016-6.pdf
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    References listed on IDEAS

    as
    1. Andrew Sharpe & Jean-Francois Arsenault & Peter Harrison, 2008. "Why Have Real Wages Lagged Labour Productivity Growth in Canada?," International Productivity Monitor, Centre for the Study of Living Standards, vol. 17, pages 16-27, Fall.
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    Cited by:

    1. Dany Brouillette & Katerina Gribbin & Justin-Damien Guénette & James Ketcheson & Olena Kostyshyna & Jonathan Lachaine & Colin Scarffe, 2017. "A Canada-US Comparison of Labour Market Conditions," Staff Analytical Notes 17-4, Bank of Canada.

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    More about this item

    Keywords

    Labour markets; Productivity;

    JEL classification:

    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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