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Last Updated On 29 June 2024, 9:37 AM EDT (Toronto Time)
The sectoral average weekly earnings in Canada increased by 3.7% to $1,240 year over year in April, following a 4.1% increase in March.
As per the Statistics Canada report released on June 27, the increase in average weekly earnings can be attributed to a variety of factors, such as changes in wages, the composition of employment, the number of hours worked, and the impact of the base year.
This weekly average earnings were at $1,204 in June 2023.
April was the third consecutive month in which the number of employees receiving pay and benefits from their employer decreased by 22,700 (-0.1%), while the number of job vacancies decreased by 32,000 (-5.3%) to 575,400.
April saw monthly payroll employment declines in 8 out of 20 sectors, with manufacturing (-6,000; -0.4%), administrative and support, waste management and remediation services (-5,200; -0.6%), and accommodation and food services (-4,800; -0.4%) leading the way.
Following decreases in March (-2,300; -0.1%) and February (-8,400; -0.4%), retail trade payroll employment further decreased in April 2024 (-4,200; -0.2%).
In April, payroll employment in the trade sector decreased by 19,600 (-1.0%) on a yearly basis.
The payroll employment in health care and social assistance increased by 5,700 (+0.2%), continuing the upward trend that has been in place since September 2022.
This period has seen a cumulative gain of 149,600 (+6.7%).
In April, the number of job vacancies decreased by 32,000 (-5.3%) to 575,400, which is the third consecutive monthly decrease.
| Sectors | April 2024 | March 2024 | Month-on-Month Change | Year-on-Year change |
|---|---|---|---|---|
| Average for all sectors | 1240.18 | 1234.94 | 0.42% | 3.69% |
| Wholesale trade | 1545.50 | 1472.87 | 4.93% | 8.38% |
| Mining, quarrying, and oil and gas extraction | 2397.01 | 2320.93 | 3.28% | 3.15% |
| Other services (excluding public administration) | 1080.29 | 1064.72 | 1.46% | 6.41% |
| Utilities | 2145.11 | 2117.98 | 1.28% | 0.81% |
| Manufacturing | 1325.82 | 1313.10 | 0.97% | 0.89% |
| Health care and social assistance | 1121.61 | 1112.10 | 0.86% | 8.28% |
| Transportation and warehousing | 1298.87 | 1290.29 | 0.66% | 3.81% |
| Public administration | 1587.31 | 1577.51 | 0.62% | 3.28% |
| Construction | 1495.64 | 1486.59 | 0.61% | -0.24% |
| Real estate, rental and leasing | 1261.81 | 1255.47 | 0.50% | 1.28% |
| Forestry, logging and support | 1368.20 | 1367.84 | 0.03% | -3.90% |
| Professional, scientific and technical services | 1744.37 | 1746.75 | -0.14% | 2.31% |
| Information and cultural industries | 1702.69 | 1706.17 | -0.20% | 4.52% |
| Arts, entertainment and recreation | 756.64 | 758.53 | -0.25% | 9.31% |
| Accommodations and food services | 494.79 | 497.39 | -0.52% | 3.98% |
| Administrative and support, waste management and remediation services | 1051.45 | 1059.64 | -0.77% | 3.81% |
| Finance and insurance | 1600.95 | 1614.09 | -0.81% | 0.40% |
| Educational services | 1212.61 | 1223.11 | -0.86% | 1.45% |
| Retail trade | 741.99 | 750.52 | -1.14% | 5.97% |
| Management of companies and enterprises | 1775.27 | 1810.81 | -1.96% | 6.85% |
The number of job vacancies in Ontario (-13,900; -6.5%), Alberta (-11,500; -14.7%), Manitoba (-3,500; -15.6%), and Prince Edward Island (-1,000; -37.2%) decreased in April.
The remaining six provinces experienced minimal change.
monthly change in average hourly wages was highest in Yukon and Alberta as compared to other provinces.
| Provinces and territories | April 2024 | March 2024 | Month-on-Month Change | Year-on-Year Change |
|---|---|---|---|---|
| Yukon | 1441.64 | 1419.63 | 1.55% | 5.38% |
| Alberta | 1317.98 | 1298.15 | 1.53% | 2.37% |
| Newfoundland and Labrador | 1232.85 | 1220.66 | 1.00% | 4.56% |
| Manitoba | 1138.33 | 1127.42 | 0.97% | 3.78% |
| Prince Edward Island | 1063.58 | 1055.90 | 0.73% | 6.15% |
| Nunavut | 1668.92 | 1659.83 | 0.55% | 0.60% |
| Saskatchewan | 1199.90 | 1195.15 | 0.40% | 3.14% |
| Ontario | 1271.04 | 1267.32 | 0.29% | 3.41% |
| Nova Scotia | 1106.36 | 1103.25 | 0.28% | 4.22% |
| Northwest Territories | 1664.97 | 1660.77 | 0.25% | 3.63% |
| British Columbia | 1258.20 | 1255.52 | 0.21% | 4.63% |
| Quebec | 1181.70 | 1183.61 | -0.16% | 3.78% |
| New Brunswick | 1118.20 | 1129.76 | -1.02% | 2.15% |
Job vacancies decreased by 223,400 (-28.0%) in April 2024 when contrasted with April 2023.
In April 2024, the number of unemployed individuals per job vacancy increased from 2.2 in March to 2.3.
The unemployment-to-job vacancy ratio in April increased significantly, primarily due to a decrease in the number of job vacancies (-32,000; -5.3%).
The number of unemployed individuals (as reported by the Labour Force Survey) remained substantially unchanged in April.
In April 2024, the number of vacant positions in the retail trade sector decreased by 5,200 (-8.6%) to 55,100.
This was the second consecutive monthly decline, and it led to the lowest number of employment vacancies since November 2019 (54,800).
In April 2024, there were 29,900 fewer job openings in this sector than in April 2023, a decrease of 35.2%.
According to the most recent data from Statistics Canada, the unemployment rate in Canada has increased to 6.2% as of May 2024.
The aggregate job vacancy rate in Canada is now 3.2%, which is defined as the number of vacant positions as a proportion of the total labour demand (the total of filled and vacant job positions).
Gagandeep Kaur Sekhon moved to Canada in 2010 on a study visa. She navigated through the ups and downs of her student life and gained her permanent residency in 2015. Today, she is a proud Canadian citizen residing in Calgary, Alberta. She is mother of 2 beautiful daughters and making her difference through writing and guidance at INC – Immigration News Canada.
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