Wages in Canada will rise in 2022
The shortage of specialists forces companies to increase salaries.
Canadian staffing company LifeWorks conducted a labour market survey of employers. Wages in Canada are projected to increase by 2.5-2.7% by 2022.
The survey showed an increase in confidence in the economic prospects of the country. The highest wage growth is expected in wholesale trade — by 3.1%. And in the sectors of construction, hospitality, catering and information technology — by 3%.
Anand Parsan, a partner at LifeWorks, said that employers are mainly forced to raise salaries by competition in the labour market. There is a staff shortage across the country at the moment. Many employees are also reluctant to leave remote work for offices.
Despite the projected increase in wages, inflation in Canada has risen at a record high during the pandemic. Therefore, it is possible that the rising prices will not increase the purchasing power of the country's residents. But we should not forget that the average wage in Canada remains high as it is. The most "typical" wage in Canada, which is what most people get, is $59,300 CAD a year.