<?xml version="1.0" encoding="UTF-8"?>
<data>
<terms url="https://www.bankofcanada.ca/terms/"></terms>
<groupDetail>
    <label>Firms’ average expected wage increase has declined</label>
    <description><![CDATA[Wages (balance of opinion*): Over the next 12 months, are increases in labour costs (wages per hour) expected to be higher, lower or about the same rate as over the past 12 months? Average expected wage increase (year-over-year percentage change): What do you expect your average wage increase to be next year?

* Percentage of firms expecting higher labour cost increases minus the percentage expecting lower labour cost increases]]></description>
    <link>https://www.bankofcanada.ca/?p=228603</link>
</groupDetail>
<seriesDetail>
<series id="COSTS">
<label>Balance of opinion *</label>
<description>Wage Growth - Over the next 12 months, are increases in labour costs expected to be higher, lower or about the same rate as over the past 12 months?</description>
<dimension key="d" name="Date"/>
</series>
<series id="COSTSHIGHER">
<label>Higher</label>
<description>Wage Growth - Over the next 12 months, are increases in labour costs expected to be higher, lower or about the same rate as over the past 12 months?</description>
<dimension key="d" name="Date"/>
</series>
<series id="COSTSLOWER">
<label>Lower</label>
<description>Wage Growth - Over the next 12 months, are increases in labour costs expected to be higher, lower or about the same rate as over the past 12 months?</description>
<dimension key="d" name="Date"/>
</series>
<series id="AVERWAGE">
<label>Average expected wage increase</label>
<description>Wage Growth - Over the next 12 months, are increases in labour costs expected to be higher, lower or about the same rate as over the past 12 months?</description>
<dimension key="d" name="Date"/>
</series>
</seriesDetail>
<observations>
<o d="1999-01-01"><v s="COSTS">13</v><v s="COSTSHIGHER">25</v><v s="COSTSLOWER">13</v></o>
<o d="1999-04-01"><v s="COSTS">26</v><v s="COSTSHIGHER">32</v><v s="COSTSLOWER">7</v></o>
<o d="1999-07-01"><v s="COSTS">25</v><v s="COSTSHIGHER">32</v><v s="COSTSLOWER">7</v></o>
<o d="1999-10-01"><v s="COSTS">26</v><v s="COSTSHIGHER">34</v><v s="COSTSLOWER">8</v></o>
<o d="2000-01-01"><v s="COSTS">35</v><v s="COSTSHIGHER">39</v><v s="COSTSLOWER">4</v></o>
<o d="2000-04-01"><v s="COSTS">50</v><v s="COSTSHIGHER">53</v><v s="COSTSLOWER">3</v></o>
<o d="2000-07-01"><v s="COSTS">37</v><v s="COSTSHIGHER">44</v><v s="COSTSLOWER">8</v></o>
<o d="2000-10-01"><v s="COSTS">45</v><v s="COSTSHIGHER">48</v><v s="COSTSLOWER">3</v></o>
<o d="2001-01-01"><v s="COSTS">32</v><v s="COSTSHIGHER">43</v><v s="COSTSLOWER">10</v></o>
<o d="2001-04-01"><v s="COSTS">15</v><v s="COSTSHIGHER">31</v><v s="COSTSLOWER">15</v></o>
<o d="2001-07-01"><v s="COSTS">11</v><v s="COSTSHIGHER">28</v><v s="COSTSLOWER">17</v></o>
<o d="2001-10-01"><v s="COSTS">-21</v><v s="COSTSHIGHER">16</v><v s="COSTSLOWER">37</v></o>
<o d="2002-01-01"><v s="COSTS">9</v><v s="COSTSHIGHER">26</v><v s="COSTSLOWER">17</v></o>
<o d="2002-04-01"><v s="COSTS">16</v><v s="COSTSHIGHER">28</v><v s="COSTSLOWER">13</v></o>
<o d="2002-07-01"><v s="COSTS">19</v><v s="COSTSHIGHER">30</v><v s="COSTSLOWER">10</v></o>
<o d="2002-10-01"><v s="COSTS">9</v><v s="COSTSHIGHER">22</v><v s="COSTSLOWER">13</v></o>
<o d="2003-01-01"><v s="COSTS">23</v><v s="COSTSHIGHER">31</v><v s="COSTSLOWER">8</v></o>
<o d="2003-04-01"><v s="COSTS">2</v><v s="COSTSHIGHER">22</v><v s="COSTSLOWER">20</v></o>
<o d="2003-07-01"><v s="COSTS">6</v><v s="COSTSHIGHER">19</v><v s="COSTSLOWER">13</v></o>
<o d="2003-10-01"><v s="COSTS">9</v><v s="COSTSHIGHER">22</v><v s="COSTSLOWER">13</v></o>
<o d="2004-01-01"><v s="COSTS">24</v><v s="COSTSHIGHER">29</v><v s="COSTSLOWER">6</v></o>
<o d="2004-04-01"><v s="COSTS">29</v><v s="COSTSHIGHER">36</v><v s="COSTSLOWER">7</v></o>
<o d="2004-07-01"><v s="COSTS">19</v><v s="COSTSHIGHER">28</v><v s="COSTSLOWER">9</v></o>
<o d="2004-10-01"><v s="COSTS">18</v><v s="COSTSHIGHER">27</v><v s="COSTSLOWER">9</v></o>
<o d="2005-01-01"><v s="COSTS">14</v><v s="COSTSHIGHER">24</v><v s="COSTSLOWER">10</v></o>
<o d="2005-04-01"><v s="COSTS">11</v><v s="COSTSHIGHER">24</v><v s="COSTSLOWER">13</v></o>
<o d="2005-07-01"><v s="COSTS">31</v><v s="COSTSHIGHER">35</v><v s="COSTSLOWER">4</v></o>
<o d="2005-10-01"><v s="COSTS">34</v><v s="COSTSHIGHER">43</v><v s="COSTSLOWER">9</v></o>
<o d="2006-01-01"><v s="COSTS">28</v><v s="COSTSHIGHER">37</v><v s="COSTSLOWER">9</v></o>
<o d="2006-04-01"><v s="COSTS">27</v><v s="COSTSHIGHER">36</v><v s="COSTSLOWER">9</v></o>
<o d="2006-07-01"><v s="COSTS">35</v><v s="COSTSHIGHER">41</v><v s="COSTSLOWER">6</v></o>
<o d="2006-10-01"><v s="COSTS">25</v><v s="COSTSHIGHER">35</v><v s="COSTSLOWER">10</v></o>
<o d="2007-01-01"><v s="COSTS">14</v><v s="COSTSHIGHER">31</v><v s="COSTSLOWER">17</v></o>
<o d="2007-04-01"><v s="COSTS">4</v><v s="COSTSHIGHER">21</v><v s="COSTSLOWER">17</v></o>
<o d="2007-07-01"><v s="COSTS">6</v><v s="COSTSHIGHER">25</v><v s="COSTSLOWER">20</v></o>
<o d="2007-10-01"><v s="COSTS">6</v><v s="COSTSHIGHER">26</v><v s="COSTSLOWER">20</v></o>
<o d="2008-01-01"><v s="COSTS">4</v><v s="COSTSHIGHER">27</v><v s="COSTSLOWER">24</v><v s="AVERWAGE">3.6</v></o>
<o d="2008-04-01"><v s="COSTS">13</v><v s="COSTSHIGHER">30</v><v s="COSTSLOWER">17</v><v s="AVERWAGE">4.0</v></o>
<o d="2008-07-01"><v s="COSTS">4</v><v s="COSTSHIGHER">23</v><v s="COSTSLOWER">19</v><v s="AVERWAGE">3.7</v></o>
<o d="2008-10-01"><v s="COSTS">-47</v><v s="COSTSHIGHER">11</v><v s="COSTSLOWER">58</v><v s="AVERWAGE">2.2</v></o>
<o d="2009-01-01"><v s="COSTS">-52</v><v s="COSTSHIGHER">6</v><v s="COSTSLOWER">58</v><v s="AVERWAGE">1.5</v></o>
<o d="2009-04-01"><v s="COSTS">-41</v><v s="COSTSHIGHER">13</v><v s="COSTSLOWER">53</v><v s="AVERWAGE">1.6</v></o>
<o d="2009-07-01"><v s="COSTS">-7</v><v s="COSTSHIGHER">19</v><v s="COSTSLOWER">26</v><v s="AVERWAGE">2.0</v></o>
<o d="2009-10-01"><v s="COSTS">6</v><v s="COSTSHIGHER">28</v><v s="COSTSLOWER">22</v><v s="AVERWAGE">2.4</v></o>
<o d="2010-01-01"><v s="COSTS">3</v><v s="COSTSHIGHER">32</v><v s="COSTSLOWER">29</v><v s="AVERWAGE">2.3</v></o>
<o d="2010-04-01"><v s="COSTS">22</v><v s="COSTSHIGHER">35</v><v s="COSTSLOWER">13</v><v s="AVERWAGE">2.5</v></o>
<o d="2010-07-01"><v s="COSTS">15</v><v s="COSTSHIGHER">27</v><v s="COSTSLOWER">11</v><v s="AVERWAGE">2.7</v></o>
<o d="2010-10-01"><v s="COSTS">16</v><v s="COSTSHIGHER">33</v><v s="COSTSLOWER">16</v><v s="AVERWAGE">3.0</v></o>
<o d="2011-01-01"><v s="COSTS">26</v><v s="COSTSHIGHER">44</v><v s="COSTSLOWER">18</v><v s="AVERWAGE">3.0</v></o>
<o d="2011-04-01"><v s="COSTS">29</v><v s="COSTSHIGHER">43</v><v s="COSTSLOWER">14</v><v s="AVERWAGE">3.2</v></o>
<o d="2011-07-01"><v s="COSTS">7</v><v s="COSTSHIGHER">23</v><v s="COSTSLOWER">16</v><v s="AVERWAGE">3.5</v></o>
<o d="2011-10-01"><v s="COSTS">20</v><v s="COSTSHIGHER">35</v><v s="COSTSLOWER">15</v><v s="AVERWAGE">3.2</v></o>
<o d="2012-01-01"><v s="COSTS">14</v><v s="COSTSHIGHER">27</v><v s="COSTSLOWER">13</v><v s="AVERWAGE">3.1</v></o>
<o d="2012-04-01"><v s="COSTS">19</v><v s="COSTSHIGHER">27</v><v s="COSTSLOWER">8</v><v s="AVERWAGE">2.9</v></o>
<o d="2012-07-01"><v s="COSTS">7</v><v s="COSTSHIGHER">23</v><v s="COSTSLOWER">16</v><v s="AVERWAGE">2.9</v></o>
<o d="2012-10-01"><v s="COSTS">3</v><v s="COSTSHIGHER">21</v><v s="COSTSLOWER">18</v><v s="AVERWAGE">2.9</v></o>
<o d="2013-01-01"><v s="COSTS">-1</v><v s="COSTSHIGHER">18</v><v s="COSTSLOWER">19</v><v s="AVERWAGE">2.6</v></o>
<o d="2013-04-01"><v s="COSTS">4</v><v s="COSTSHIGHER">17</v><v s="COSTSLOWER">13</v><v s="AVERWAGE">2.7</v></o>
<o d="2013-07-01"><v s="COSTS">12</v><v s="COSTSHIGHER">25</v><v s="COSTSLOWER">13</v><v s="AVERWAGE">2.7</v></o>
<o d="2013-10-01"><v s="COSTS">17</v><v s="COSTSHIGHER">24</v><v s="COSTSLOWER">7</v><v s="AVERWAGE">2.8</v></o>
<o d="2014-01-01"><v s="COSTS">9</v><v s="COSTSHIGHER">23</v><v s="COSTSLOWER">14</v><v s="AVERWAGE">2.9</v></o>
<o d="2014-04-01"><v s="COSTS">11</v><v s="COSTSHIGHER">22</v><v s="COSTSLOWER">11</v><v s="AVERWAGE">2.7</v></o>
<o d="2014-07-01"><v s="COSTS">11</v><v s="COSTSHIGHER">19</v><v s="COSTSLOWER">8</v><v s="AVERWAGE">3.1</v></o>
<o d="2014-10-01"><v s="COSTS">2</v><v s="COSTSHIGHER">15</v><v s="COSTSLOWER">13</v><v s="AVERWAGE">2.5</v></o>
<o d="2015-01-01"><v s="COSTS">-6</v><v s="COSTSHIGHER">17</v><v s="COSTSLOWER">23</v><v s="AVERWAGE">2.3</v></o>
<o d="2015-04-01"><v s="COSTS">1</v><v s="COSTSHIGHER">18</v><v s="COSTSLOWER">17</v><v s="AVERWAGE">2.2</v></o>
<o d="2015-07-01"><v s="COSTS">-3</v><v s="COSTSHIGHER">22</v><v s="COSTSLOWER">25</v><v s="AVERWAGE">2.1</v></o>
<o d="2015-10-01"><v s="COSTS">-4</v><v s="COSTSHIGHER">17</v><v s="COSTSLOWER">21</v><v s="AVERWAGE">2.3</v></o>
<o d="2016-01-01"><v s="COSTS">17</v><v s="COSTSHIGHER">34</v><v s="COSTSLOWER">17</v><v s="AVERWAGE">2.3</v></o>
<o d="2016-04-01"><v s="COSTS">-5</v><v s="COSTSHIGHER">14</v><v s="COSTSLOWER">19</v><v s="AVERWAGE">2.0</v></o>
<o d="2016-07-01"><v s="COSTS">14</v><v s="COSTSHIGHER">27</v><v s="COSTSLOWER">13</v><v s="AVERWAGE">2.4</v></o>
<o d="2016-10-01"><v s="COSTS">21</v><v s="COSTSHIGHER">31</v><v s="COSTSLOWER">10</v><v s="AVERWAGE">2.4</v></o>
<o d="2017-01-01"><v s="COSTS">13</v><v s="COSTSHIGHER">25</v><v s="COSTSLOWER">12</v><v s="AVERWAGE">2.6</v></o>
<o d="2017-04-01"><v s="COSTS">22</v><v s="COSTSHIGHER">27</v><v s="COSTSLOWER">5</v><v s="AVERWAGE">3.0</v></o>
<o d="2017-07-01"><v s="COSTS">20</v><v s="COSTSHIGHER">31</v><v s="COSTSLOWER">11</v><v s="AVERWAGE">3.0</v></o>
<o d="2017-10-01"><v s="COSTS">25</v><v s="COSTSHIGHER">39</v><v s="COSTSLOWER">14</v><v s="AVERWAGE">3.4</v></o>
<o d="2018-01-01"><v s="COSTS">25</v><v s="COSTSHIGHER">37</v><v s="COSTSLOWER">12</v><v s="AVERWAGE">3.4</v></o>
<o d="2018-04-01"><v s="COSTS">18</v><v s="COSTSHIGHER">34</v><v s="COSTSLOWER">16</v><v s="AVERWAGE">3.8</v></o>
<o d="2018-07-01"><v s="COSTS">18</v><v s="COSTSHIGHER">34</v><v s="COSTSLOWER">16</v><v s="AVERWAGE">3.2</v></o>
<o d="2018-10-01"><v s="COSTS">23</v><v s="COSTSHIGHER">37</v><v s="COSTSLOWER">14</v><v s="AVERWAGE">3.9</v></o>
<o d="2019-01-01"><v s="COSTS">15</v><v s="COSTSHIGHER">30</v><v s="COSTSLOWER">15</v><v s="AVERWAGE">3.0</v></o>
<o d="2019-04-01"><v s="COSTS">7</v><v s="COSTSHIGHER">28</v><v s="COSTSLOWER">21</v><v s="AVERWAGE">3.2</v></o>
<o d="2019-07-01"><v s="COSTS">13</v><v s="COSTSHIGHER">28</v><v s="COSTSLOWER">15</v><v s="AVERWAGE">3.0</v></o>
<o d="2019-10-01"><v s="COSTS">11</v><v s="COSTSHIGHER">21</v><v s="COSTSLOWER">10</v><v s="AVERWAGE">3.2</v></o>
<o d="2020-01-01"><v s="COSTS">10</v><v s="COSTSHIGHER">26</v><v s="COSTSLOWER">16</v><v s="AVERWAGE">2.8</v></o>
<o d="2020-04-01"><v s="COSTS">-35</v><v s="COSTSHIGHER">13</v><v s="COSTSLOWER">48</v><v s="AVERWAGE">1.5</v></o>
<o d="2020-07-01"><v s="COSTS">-21</v><v s="COSTSHIGHER">20</v><v s="COSTSLOWER">41</v><v s="AVERWAGE">2.2</v></o>
<o d="2020-10-01"><v s="COSTS">0</v><v s="COSTSHIGHER">29</v><v s="COSTSLOWER">29</v><v s="AVERWAGE">3.3</v></o>
<o d="2021-01-01"><v s="COSTS">20</v><v s="COSTSHIGHER">37</v><v s="COSTSLOWER">16</v><v s="AVERWAGE">2.6</v></o>
<o d="2021-04-01"><v s="COSTS">43</v><v s="COSTSHIGHER">49</v><v s="COSTSLOWER">6</v><v s="AVERWAGE">4.0</v></o>
<o d="2021-07-01"><v s="COSTS">50</v><v s="COSTSHIGHER">58</v><v s="COSTSLOWER">8</v><v s="AVERWAGE">4.4</v></o>
<o d="2021-10-01"><v s="COSTS">72</v><v s="COSTSHIGHER">81</v><v s="COSTSLOWER">9</v><v s="AVERWAGE">4.8</v></o>
<o d="2022-01-01"><v s="COSTS">68</v><v s="COSTSHIGHER">74</v><v s="COSTSLOWER">6</v><v s="AVERWAGE">5.2</v></o>
<o d="2022-04-01"><v s="COSTS">61</v><v s="COSTSHIGHER">73</v><v s="COSTSLOWER">12</v><v s="AVERWAGE">5.8</v></o>
<o d="2022-07-01"><v s="COSTS">38</v><v s="COSTSHIGHER">57</v><v s="COSTSLOWER">19</v><v s="AVERWAGE">4.9</v></o>
</observations>
</data>