Canada CAD

Canada Average Hourly Wages YoY

Impact:
Low

Latest Release:

Date:
Actual:
4%
Forecast: 4%
Previous/Revision:
4%
Period: Nov

Next Release:

Date:
Forecast: 4%
Period: Dec
What Does It Measure?
The Canada Average Hourly Wages YoY measures the annual change in wages paid to employees, providing insight into labor market conditions and consumer purchasing power. It primarily focuses on the average wage growth across sectors and assesses the overall health of the labor market, which can indicate inflationary pressures and economic expansion.
Frequency
This event is released monthly, typically on a Friday, and presents final figures that capture wage changes from the previous year.
Why Do Traders Care?
Traders closely watch wage growth as it influences consumer spending, a key driver of economic activity, which can affect various financial markets, including currencies, stocks, and bonds. Higher-than-expected wage growth is often considered bullish for the Canadian dollar and equities, indicating potential inflationary pressures, while lower-than-expected results could have a bearish impact.
What Is It Derived From?
The Average Hourly Wages indicator is derived from a survey of various employers across multiple sectors, capturing wage information from a sample of employees. It uses data collection methodologies that ensure representative sampling and typically employs average calculations to assess wage trends.
Description
Preliminary reports of wage data are based on early estimates and may be revised in future releases, while final reports reflect a more accurate depiction of wage changes based on additional data. Month-over-Month (MoM) comparisons are also available, but the Year-over-Year (YoY) metric is favored for its ability to eliminate seasonality and provide insights on long-term wage trends.
Additional Notes
This indicator serves as a leading economic measure, as rising wages can signal increased consumer spending and potential inflation, influencing broader economic trends in Canada and beyond. It is often compared to other labor indicators such as employment rates and inflation figures to provide a clearer picture of the economic landscape.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for CAD, Bullish for Stocks. Lower than expected: Bearish for CAD, Bearish for Stocks. A dovish tone: Signaling lower interest rates or economic support is usually good for the CAD but bad for Stocks due to cheaper borrowing costs.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
4%
4%
4%
4%
3.3%
3.6%
0.7%
3.3%
3.6%
3.2%
-0.3%
3.6%
3.2%
3.5%
0.4%
3.5%
3.1%
3.2%
0.4%
3.2%
3.5%
3.5%
-0.3%
3.5%
3.5%
3.5%
3.5%
3%
3.5%
0.5%
3.5%
4%
4%
-0.5%
4%
3.5%
3.7%
0.5%
3.7%
3.7%
3.8%
3.7%
3.9%
3.9%
-0.2%
3.9%
4.8%
4.9%
-0.9%
4.9%
4.4%
4.5%
0.5%
4.5%
4.8%
4.9%
-0.3%
4.9%
5.2%
5.2%
6%
5.6%
-0.8%
5.6%
5.3%
5.2%
0.3%
5.2%
4.8%
4.8%
4.9%
5%
-0.1%
5%
4.7%
4.9%
0.3%
 
 
4.9%
5.3%
5.3%
-0.4%
5.3%
5.5%
5.7%
-0.2%
5.7%
5.1%
5%
0.6%
5%
5%
5%
5%
5.3%
5.3%
-0.3%
5.3%
5.5%
5.2%
-0.2%
5.2%
4.8%
5%
0.4%
5%
4.1%
3.9%
0.9%
3.9%
4.3%
5.1%
-0.4%
5.1%
5.1%
5.2%
5.2%
5.4%
5.2%
-0.2%
5.2%
5.5%
5.4%
-0.3%
5.4%
4.4%
4.5%
1%
4.5%
4.4%
4.7%
0.1%
5.2%
5.3%
5.4%
-0.1%
5.4%
4.8%
5.5%
0.6%
5.5%
5.1%
5.2%
0.4%
5.2%
5.4%
5.6%
-0.2%
5.6%
5.4%
5.4%
5.6%
5.6%
4.5%
4.5%
3.4%
3.4%
3.7%
3.4%
3.1%
3.3%
2.3%
2.4%
1%
2.4%
2%
2.7%
0.4%
2.7%
3.1%
3%
-0.4%
3%
2.2%
2.1%
0.8%
2.1%
1.8%
1.7%
0.3%
1.7%
1.6%
1.25%
0.1%
1.25%
0.5%
0.6%
0.75%
0.6%
0.9%
0.1%
-0.3%
0.1%
0.9%
-1.4%
-0.8%
-1.4%
-0.6%
-1.6%
-0.8%
-1.6%
1.9%
2%
-3.5%
2%
4.3%
4.3%
-2.3%
4.3%
5.9%
5.9%
5.4%
5.4%
4.8%
4.8%
5.2%
5.2%
5.4%
5.4%
6%
6%
5.7%
5.7%
6.8%
6.8%
9.96%
10%
10.5%
10.5%
6.1%
6.1%
4.3%
4.3%
4.4%
4.4%
3.8%
3.8%
4.4%
4.4%
4.4%
4.4%
4.3%
4.3%
3.8%
3.8%
4.5%
4.5%
3.6%
3.6%
2.6%
2.6%
2.6%
2.6%
2.3%
2.3%
2.2%
2.2%
1.8%
1.8%
1.5%
Broker Rebates