<?xml version="1.0" encoding="UTF-8"?>
<data>
<terms url="https://www.bankofcanada.ca/terms/"></terms>
<groupDetail>
    <label>Business Outlook Survey—data by firm size (four quarter moving averages) - Wages</label>
    <description><![CDATA[Firm sizes are defined as follows: small firms have 10 to 99 employees, medium-sized firms have 100 to 499 employees, and large firms have 500 or more employees. Because the responses are presented here as four-quarter moving averages, these charts may not show the same movements as the aggregate BOS data published each quarter.]]></description>
    <link>https://www.bankofcanada.ca/?p=217700</link>
</groupDetail>
<seriesDetail>
<series id="BOS_WAGE_S">
<label>Small firms</label>
<description>Wages, four-quarter moving average - 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="BOS_WAGE_M">
<label>Medium-sized firms</label>
<description>Wages, four-quarter moving average - 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="BOS_WAGE_L">
<label>Large firms</label>
<description>Wages, four-quarter moving average - 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="2004-01-01"><v s="BOS_WAGE_S">10.82</v><v s="BOS_WAGE_M">8.47</v><v s="BOS_WAGE_L">10.67</v></o>
<o d="2004-04-01"><v s="BOS_WAGE_S">15.55</v><v s="BOS_WAGE_M">12.39</v><v s="BOS_WAGE_L">21.35</v></o>
<o d="2004-07-01"><v s="BOS_WAGE_S">23.55</v><v s="BOS_WAGE_M">12.58</v><v s="BOS_WAGE_L">23.14</v></o>
<o d="2004-10-01"><v s="BOS_WAGE_S">27.91</v><v s="BOS_WAGE_M">13.91</v><v s="BOS_WAGE_L">25.57</v></o>
<o d="2005-01-01"><v s="BOS_WAGE_S">25.41</v><v s="BOS_WAGE_M">15.51</v><v s="BOS_WAGE_L">20.61</v></o>
<o d="2005-04-01"><v s="BOS_WAGE_S">22.61</v><v s="BOS_WAGE_M">11.11</v><v s="BOS_WAGE_L">14.44</v></o>
<o d="2005-07-01"><v s="BOS_WAGE_S">26.96</v><v s="BOS_WAGE_M">13.44</v><v s="BOS_WAGE_L">16.94</v></o>
<o d="2005-10-01"><v s="BOS_WAGE_S">25.93</v><v s="BOS_WAGE_M">20.28</v><v s="BOS_WAGE_L">21.16</v></o>
<o d="2006-01-01"><v s="BOS_WAGE_S">28.40</v><v s="BOS_WAGE_M">21.00</v><v s="BOS_WAGE_L">27.92</v></o>
<o d="2006-04-01"><v s="BOS_WAGE_S">33.51</v><v s="BOS_WAGE_M">24.32</v><v s="BOS_WAGE_L">30.88</v></o>
<o d="2006-07-01"><v s="BOS_WAGE_S">35.68</v><v s="BOS_WAGE_M">25.71</v><v s="BOS_WAGE_L">31.24</v></o>
<o d="2006-10-01"><v s="BOS_WAGE_S">32.00</v><v s="BOS_WAGE_M">23.40</v><v s="BOS_WAGE_L">30.50</v></o>
<o d="2007-01-01"><v s="BOS_WAGE_S">35.86</v><v s="BOS_WAGE_M">18.40</v><v s="BOS_WAGE_L">23.49</v></o>
<o d="2007-04-01"><v s="BOS_WAGE_S">26.34</v><v s="BOS_WAGE_M">16.69</v><v s="BOS_WAGE_L">17.84</v></o>
<o d="2007-07-01"><v s="BOS_WAGE_S">11.00</v><v s="BOS_WAGE_M">12.77</v><v s="BOS_WAGE_L">13.72</v></o>
<o d="2007-10-01"><v s="BOS_WAGE_S">3.19</v><v s="BOS_WAGE_M">10.10</v><v s="BOS_WAGE_L">9.44</v></o>
<o d="2008-01-01"><v s="BOS_WAGE_S">-5.05</v><v s="BOS_WAGE_M">9.35</v><v s="BOS_WAGE_L">9.10</v></o>
<o d="2008-04-01"><v s="BOS_WAGE_S">4.25</v><v s="BOS_WAGE_M">11.35</v><v s="BOS_WAGE_L">4.47</v></o>
<o d="2008-07-01"><v s="BOS_WAGE_S">7.40</v><v s="BOS_WAGE_M">9.10</v><v s="BOS_WAGE_L">2.44</v></o>
<o d="2008-10-01"><v s="BOS_WAGE_S">-0.68</v><v s="BOS_WAGE_M">-11.85</v><v s="BOS_WAGE_L">-9.60</v></o>
<o d="2009-01-01"><v s="BOS_WAGE_S">-13.94</v><v s="BOS_WAGE_M">-23.59</v><v s="BOS_WAGE_L">-26.66</v></o>
<o d="2009-04-01"><v s="BOS_WAGE_S">-26.74</v><v s="BOS_WAGE_M">-38.57</v><v s="BOS_WAGE_L">-37.00</v></o>
<o d="2009-07-01"><v s="BOS_WAGE_S">-26.83</v><v s="BOS_WAGE_M">-44.19</v><v s="BOS_WAGE_L">-39.83</v></o>
<o d="2009-10-01"><v s="BOS_WAGE_S">-21.81</v><v s="BOS_WAGE_M">-22.46</v><v s="BOS_WAGE_L">-26.66</v></o>
<o d="2010-01-01"><v s="BOS_WAGE_S">-10.14</v><v s="BOS_WAGE_M">-9.24</v><v s="BOS_WAGE_L">-10.23</v></o>
<o d="2010-04-01"><v s="BOS_WAGE_S">3.15</v><v s="BOS_WAGE_M">9.61</v><v s="BOS_WAGE_L">4.74</v></o>
<o d="2010-07-01"><v s="BOS_WAGE_S">4.29</v><v s="BOS_WAGE_M">18.73</v><v s="BOS_WAGE_L">11.21</v></o>
<o d="2010-10-01"><v s="BOS_WAGE_S">18.18</v><v s="BOS_WAGE_M">17.57</v><v s="BOS_WAGE_L">7.74</v></o>
<o d="2011-01-01"><v s="BOS_WAGE_S">24.14</v><v s="BOS_WAGE_M">24.95</v><v s="BOS_WAGE_L">11.85</v></o>
<o d="2011-04-01"><v s="BOS_WAGE_S">23.65</v><v s="BOS_WAGE_M">22.76</v><v s="BOS_WAGE_L">17.92</v></o>
<o d="2011-07-01"><v s="BOS_WAGE_S">22.51</v><v s="BOS_WAGE_M">19.21</v><v s="BOS_WAGE_L">16.95</v></o>
<o d="2011-10-01"><v s="BOS_WAGE_S">23.27</v><v s="BOS_WAGE_M">18.32</v><v s="BOS_WAGE_L">20.16</v></o>
<o d="2012-01-01"><v s="BOS_WAGE_S">20.41</v><v s="BOS_WAGE_M">15.95</v><v s="BOS_WAGE_L">16.25</v></o>
<o d="2012-04-01"><v s="BOS_WAGE_S">17.55</v><v s="BOS_WAGE_M">16.48</v><v s="BOS_WAGE_L">11.05</v></o>
<o d="2012-07-01"><v s="BOS_WAGE_S">20.28</v><v s="BOS_WAGE_M">14.99</v><v s="BOS_WAGE_L">9.59</v></o>
<o d="2012-10-01"><v s="BOS_WAGE_S">12.15</v><v s="BOS_WAGE_M">12.31</v><v s="BOS_WAGE_L">7.73</v></o>
<o d="2013-01-01"><v s="BOS_WAGE_S">11.96</v><v s="BOS_WAGE_M">2.29</v><v s="BOS_WAGE_L">6.10</v></o>
<o d="2013-04-01"><v s="BOS_WAGE_S">4.98</v><v s="BOS_WAGE_M">-2.39</v><v s="BOS_WAGE_L">6.56</v></o>
<o d="2013-07-01"><v s="BOS_WAGE_S">4.98</v><v s="BOS_WAGE_M">-0.38</v><v s="BOS_WAGE_L">8.68</v></o>
<o d="2013-10-01"><v s="BOS_WAGE_S">8.88</v><v s="BOS_WAGE_M">4.92</v><v s="BOS_WAGE_L">9.83</v></o>
<o d="2014-01-01"><v s="BOS_WAGE_S">11.21</v><v s="BOS_WAGE_M">15.48</v><v s="BOS_WAGE_L">6.55</v></o>
<o d="2014-04-01"><v s="BOS_WAGE_S">15.66</v><v s="BOS_WAGE_M">15.66</v><v s="BOS_WAGE_L">7.04</v></o>
<o d="2014-07-01"><v s="BOS_WAGE_S">13.73</v><v s="BOS_WAGE_M">17.27</v><v s="BOS_WAGE_L">6.26</v></o>
<o d="2014-10-01"><v s="BOS_WAGE_S">12.57</v><v s="BOS_WAGE_M">12.70</v><v s="BOS_WAGE_L">1.84</v></o>
<o d="2015-01-01"><v s="BOS_WAGE_S">9.88</v><v s="BOS_WAGE_M">8.95</v><v s="BOS_WAGE_L">-2.30</v></o>
<o d="2015-04-01"><v s="BOS_WAGE_S">7.81</v><v s="BOS_WAGE_M">8.66</v><v s="BOS_WAGE_L">-7.75</v></o>
<o d="2015-07-01"><v s="BOS_WAGE_S">10.58</v><v s="BOS_WAGE_M">3.02</v><v s="BOS_WAGE_L">-15.83</v></o>
<o d="2015-10-01"><v s="BOS_WAGE_S">12.18</v><v s="BOS_WAGE_M">-2.44</v><v s="BOS_WAGE_L">-17.24</v></o>
<o d="2016-01-01"><v s="BOS_WAGE_S">15.81</v><v s="BOS_WAGE_M">4.43</v><v s="BOS_WAGE_L">-13.56</v></o>
<o d="2016-04-01"><v s="BOS_WAGE_S">13.98</v><v s="BOS_WAGE_M">0.59</v><v s="BOS_WAGE_L">-11.92</v></o>
<o d="2016-07-01"><v s="BOS_WAGE_S">16.60</v><v s="BOS_WAGE_M">8.05</v><v s="BOS_WAGE_L">-7.75</v></o>
<o d="2016-10-01"><v s="BOS_WAGE_S">18.70</v><v s="BOS_WAGE_M">16.63</v><v s="BOS_WAGE_L">0.58</v></o>
<o d="2017-01-01"><v s="BOS_WAGE_S">18.65</v><v s="BOS_WAGE_M">7.88</v><v s="BOS_WAGE_L">8.24</v></o>
<o d="2017-04-01"><v s="BOS_WAGE_S">21.75</v><v s="BOS_WAGE_M">16.30</v><v s="BOS_WAGE_L">16.89</v></o>
<o d="2017-07-01"><v s="BOS_WAGE_S">17.35</v><v s="BOS_WAGE_M">18.02</v><v s="BOS_WAGE_L">22.53</v></o>
<o d="2017-10-01"><v s="BOS_WAGE_S">18.28</v><v s="BOS_WAGE_M">17.86</v><v s="BOS_WAGE_L">23.99</v></o>
<o d="2018-01-01"><v s="BOS_WAGE_S">16.01</v><v s="BOS_WAGE_M">25.34</v><v s="BOS_WAGE_L">27.17</v></o>
<o d="2018-04-01"><v s="BOS_WAGE_S">20.48</v><v s="BOS_WAGE_M">18.20</v><v s="BOS_WAGE_L">27.67</v></o>
<o d="2018-07-01"><v s="BOS_WAGE_S">21.45</v><v s="BOS_WAGE_M">18.24</v><v s="BOS_WAGE_L">25.70</v></o>
<o d="2018-10-01"><v s="BOS_WAGE_S">14.68</v><v s="BOS_WAGE_M">25.50</v><v s="BOS_WAGE_L">23.79</v></o>
<o d="2019-01-01"><v s="BOS_WAGE_S">18.32</v><v s="BOS_WAGE_M">21.77</v><v s="BOS_WAGE_L">15.98</v></o>
<o d="2019-04-01"><v s="BOS_WAGE_S">12.51</v><v s="BOS_WAGE_M">23.16</v><v s="BOS_WAGE_L">11.35</v></o>
<o d="2019-07-01"><v s="BOS_WAGE_S">15.29</v><v s="BOS_WAGE_M">16.70</v><v s="BOS_WAGE_L">10.70</v></o>
<o d="2019-10-01"><v s="BOS_WAGE_S">19.37</v><v s="BOS_WAGE_M">5.77</v><v s="BOS_WAGE_L">9.19</v></o>
<o d="2020-01-01"><v s="BOS_WAGE_S">19.16</v><v s="BOS_WAGE_M">2.91</v><v s="BOS_WAGE_L">9.19</v></o>
<o d="2020-04-01"><v s="BOS_WAGE_S">11.68</v><v s="BOS_WAGE_M">-8.05</v><v s="BOS_WAGE_L">-3.66</v></o>
<o d="2020-07-01"><v s="BOS_WAGE_S">1.40</v><v s="BOS_WAGE_M">-13.05</v><v s="BOS_WAGE_L">-13.12</v></o>
<o d="2020-10-01"><v s="BOS_WAGE_S">-0.34</v><v s="BOS_WAGE_M">-16.08</v><v s="BOS_WAGE_L">-16.91</v></o>
<o d="2021-01-01"><v s="BOS_WAGE_S">1.10</v><v s="BOS_WAGE_M">-12.04</v><v s="BOS_WAGE_L">-15.39</v></o>
<o d="2021-04-01"><v s="BOS_WAGE_S">16.10</v><v s="BOS_WAGE_M">11.42</v><v s="BOS_WAGE_L">4.52</v></o>
<o d="2021-07-01"><v s="BOS_WAGE_S">32.64</v><v s="BOS_WAGE_M">26.42</v><v s="BOS_WAGE_L">25.81</v></o>
<o d="2021-10-01"><v s="BOS_WAGE_S">43.24</v><v s="BOS_WAGE_M">46.11</v><v s="BOS_WAGE_L">48.28</v></o>
<o d="2022-01-01"><v s="BOS_WAGE_S">53.35</v><v s="BOS_WAGE_M">58.06</v><v s="BOS_WAGE_L">62.73</v></o>
<o d="2022-04-01"><v s="BOS_WAGE_S">57.09</v><v s="BOS_WAGE_M">57.40</v><v s="BOS_WAGE_L">72.29</v></o>
<o d="2022-07-01"><v s="BOS_WAGE_S">52.92</v><v s="BOS_WAGE_M">53.36</v><v s="BOS_WAGE_L">72.94</v></o>
<o d="2022-10-01"><v s="BOS_WAGE_S">46.74</v><v s="BOS_WAGE_M">43.12</v><v s="BOS_WAGE_L">59.56</v></o>
<o d="2023-01-01"><v s="BOS_WAGE_S">30.66</v><v s="BOS_WAGE_M">29.27</v><v s="BOS_WAGE_L">54.19</v></o>
<o d="2023-04-01"><v s="BOS_WAGE_S">15.46</v><v s="BOS_WAGE_M">8.48</v><v s="BOS_WAGE_L">32.25</v></o>
<o d="2023-07-01"><v s="BOS_WAGE_S">-7.87</v><v s="BOS_WAGE_M">-9.64</v><v s="BOS_WAGE_L">6.13</v></o>
<o d="2023-10-01"><v s="BOS_WAGE_S">-21.67</v><v s="BOS_WAGE_M">-23.21</v><v s="BOS_WAGE_L">-6.24</v></o>
<o d="2024-01-01"><v s="BOS_WAGE_S">-29.07</v><v s="BOS_WAGE_M">-26.17</v><v s="BOS_WAGE_L">-26.52</v></o>
<o d="2024-04-01"><v s="BOS_WAGE_S">-34.49</v><v s="BOS_WAGE_M">-30.68</v><v s="BOS_WAGE_L">-38.83</v></o>
<o d="2024-07-01"><v s="BOS_WAGE_S">-24.76</v><v s="BOS_WAGE_M">-31.98</v><v s="BOS_WAGE_L">-37.69</v></o>
<o d="2024-10-01"><v s="BOS_WAGE_S">-23.60</v><v s="BOS_WAGE_M">-40.28</v><v s="BOS_WAGE_L">-44.26</v></o>
<o d="2025-01-01"><v s="BOS_WAGE_S">-31.76</v><v s="BOS_WAGE_M">-46.53</v><v s="BOS_WAGE_L">-42.32</v></o>
<o d="2025-04-01"><v s="BOS_WAGE_S">-32.47</v><v s="BOS_WAGE_M">-39.30</v><v s="BOS_WAGE_L">-38.78</v></o>
<o d="2025-07-01"><v s="BOS_WAGE_S">-30.33</v><v s="BOS_WAGE_M">-33.19</v><v s="BOS_WAGE_L">-34.47</v></o>
<o d="2025-10-01"><v s="BOS_WAGE_S">-25.13</v><v s="BOS_WAGE_M">-23.43</v><v s="BOS_WAGE_L">-24.75</v></o>
</observations>
</data>