<?xml version="1.0" encoding="UTF-8"?>
<data>
<terms url="https://www.bankofcanada.ca/terms/"></terms>
<groupDetail>
    <label>Chart 5: Wage growth continued to ease</label>
    <description><![CDATA[Year-over-year percentage change, monthly and quarterly data

LFS is the Labour Force Survey; SEPH is the Survey of Employment, Payrolls and Hours. LFS, microdata, private sector measures wage growth using microdata from the LFS to abstract from changes in worker characteristics, extracting a quality-adjusted price for labour. For more details, see F. Bounajm, T. Devakos and G. Galassi, “Beyond the averages: Measuring underlying wage growth using Labour Force Survey microdata,” Bank of Canada Staff Analytical Note No. 2024-23 (October 2024). All wage series are measured as compensation per hour except for SEPH, which is measured in terms of average weekly earnings. Private sector in SEPH excludes wages from public administration, education, and health care and social assistance.

Statistics Canada and Bank of Canada calculations]]></description>
    <link>https://www.bankofcanada.ca/?p=246636</link>
</groupDetail>
<seriesDetail>
<series id="MPR_2025M07_WAGES_S1">
<label>LFS, average wage, private sector</label>
<description></description>
<dimension key="d" name="Date"/>
</series>
<series id="MPR_2025M07_WAGES_S2">
<label>LFS, microdata, private sector</label>
<description></description>
<dimension key="d" name="Date"/>
</series>
<series id="MPR_2025M07_WAGES_S3">
<label>SEPH, average weekly earnings, private sector</label>
<description></description>
<dimension key="d" name="Date"/>
</series>
<series id="MPR_2025M07_WAGES_S4">
<label>Unit labour cost, business sector</label>
<description></description>
<dimension key="d" name="Date"/>
</series>
</seriesDetail>
<observations>
<o d="2019-01-01"><v s="MPR_2025M07_WAGES_S1">2.58</v><v s="MPR_2025M07_WAGES_S2">3.56</v><v s="MPR_2025M07_WAGES_S3">1.81</v><v s="MPR_2025M07_WAGES_S4">1.72</v></o>
<o d="2019-02-01"><v s="MPR_2025M07_WAGES_S1">2.57</v><v s="MPR_2025M07_WAGES_S2">3.42</v><v s="MPR_2025M07_WAGES_S3">0.48</v></o>
<o d="2019-03-01"><v s="MPR_2025M07_WAGES_S1">2.55</v><v s="MPR_2025M07_WAGES_S2">3.34</v><v s="MPR_2025M07_WAGES_S3">1.45</v></o>
<o d="2019-04-01"><v s="MPR_2025M07_WAGES_S1">2.39</v><v s="MPR_2025M07_WAGES_S2">3.12</v><v s="MPR_2025M07_WAGES_S3">2.40</v><v s="MPR_2025M07_WAGES_S4">2.37</v></o>
<o d="2019-05-01"><v s="MPR_2025M07_WAGES_S1">2.92</v><v s="MPR_2025M07_WAGES_S2">2.87</v><v s="MPR_2025M07_WAGES_S3">3.98</v></o>
<o d="2019-06-01"><v s="MPR_2025M07_WAGES_S1">3.47</v><v s="MPR_2025M07_WAGES_S2">2.94</v><v s="MPR_2025M07_WAGES_S3">2.23</v></o>
<o d="2019-07-01"><v s="MPR_2025M07_WAGES_S1">3.55</v><v s="MPR_2025M07_WAGES_S2">2.54</v><v s="MPR_2025M07_WAGES_S3">2.82</v><v s="MPR_2025M07_WAGES_S4">2.95</v></o>
<o d="2019-08-01"><v s="MPR_2025M07_WAGES_S1">3.62</v><v s="MPR_2025M07_WAGES_S2">2.91</v><v s="MPR_2025M07_WAGES_S3">2.86</v></o>
<o d="2019-09-01"><v s="MPR_2025M07_WAGES_S1">4.17</v><v s="MPR_2025M07_WAGES_S2">3.48</v><v s="MPR_2025M07_WAGES_S3">4.07</v></o>
<o d="2019-10-01"><v s="MPR_2025M07_WAGES_S1">3.77</v><v s="MPR_2025M07_WAGES_S2">3.10</v><v s="MPR_2025M07_WAGES_S3">4.31</v><v s="MPR_2025M07_WAGES_S4">2.61</v></o>
<o d="2019-11-01"><v s="MPR_2025M07_WAGES_S1">3.93</v><v s="MPR_2025M07_WAGES_S2">3.23</v><v s="MPR_2025M07_WAGES_S3">2.99</v></o>
<o d="2019-12-01"><v s="MPR_2025M07_WAGES_S1">3.25</v><v s="MPR_2025M07_WAGES_S2">2.81</v><v s="MPR_2025M07_WAGES_S3">3.77</v></o>
<o d="2020-01-01"><v s="MPR_2025M07_WAGES_S1">3.37</v><v s="MPR_2025M07_WAGES_S2">2.56</v><v s="MPR_2025M07_WAGES_S3">3.97</v><v s="MPR_2025M07_WAGES_S4">2.08</v></o>
<o d="2020-02-01"><v s="MPR_2025M07_WAGES_S1">3.46</v><v s="MPR_2025M07_WAGES_S2">2.68</v><v s="MPR_2025M07_WAGES_S3">3.89</v></o>
<o d="2020-03-01"><v s="MPR_2025M07_WAGES_S1">6.82</v><v s="MPR_2025M07_WAGES_S2">2.82</v><v s="MPR_2025M07_WAGES_S3">2.86</v></o>
<o d="2020-04-01"><v s="MPR_2025M07_WAGES_S1">10.86</v><v s="MPR_2025M07_WAGES_S2">3.20</v><v s="MPR_2025M07_WAGES_S3">10.09</v><v s="MPR_2025M07_WAGES_S4">5.58</v></o>
<o d="2020-05-01"><v s="MPR_2025M07_WAGES_S1">10.23</v><v s="MPR_2025M07_WAGES_S2">3.32</v><v s="MPR_2025M07_WAGES_S3">10.63</v></o>
<o d="2020-06-01"><v s="MPR_2025M07_WAGES_S1">7.60</v><v s="MPR_2025M07_WAGES_S2">3.46</v><v s="MPR_2025M07_WAGES_S3">9.39</v></o>
<o d="2020-07-01"><v s="MPR_2025M07_WAGES_S1">6.63</v><v s="MPR_2025M07_WAGES_S2">3.60</v><v s="MPR_2025M07_WAGES_S3">8.27</v><v s="MPR_2025M07_WAGES_S4">3.10</v></o>
<o d="2020-08-01"><v s="MPR_2025M07_WAGES_S1">6.47</v><v s="MPR_2025M07_WAGES_S2">3.53</v><v s="MPR_2025M07_WAGES_S3">7.12</v></o>
<o d="2020-09-01"><v s="MPR_2025M07_WAGES_S1">4.93</v><v s="MPR_2025M07_WAGES_S2">2.73</v><v s="MPR_2025M07_WAGES_S3">6.19</v></o>
<o d="2020-10-01"><v s="MPR_2025M07_WAGES_S1">6.07</v><v s="MPR_2025M07_WAGES_S2">3.41</v><v s="MPR_2025M07_WAGES_S3">5.61</v><v s="MPR_2025M07_WAGES_S4">3.41</v></o>
<o d="2020-11-01"><v s="MPR_2025M07_WAGES_S1">5.67</v><v s="MPR_2025M07_WAGES_S2">2.81</v><v s="MPR_2025M07_WAGES_S3">6.71</v></o>
<o d="2020-12-01"><v s="MPR_2025M07_WAGES_S1">5.96</v><v s="MPR_2025M07_WAGES_S2">3.18</v><v s="MPR_2025M07_WAGES_S3">6.67</v></o>
<o d="2021-01-01"><v s="MPR_2025M07_WAGES_S1">6.77</v><v s="MPR_2025M07_WAGES_S2">3.08</v><v s="MPR_2025M07_WAGES_S3">8.18</v><v s="MPR_2025M07_WAGES_S4">3.26</v></o>
<o d="2021-02-01"><v s="MPR_2025M07_WAGES_S1">6.11</v><v s="MPR_2025M07_WAGES_S2">3.12</v><v s="MPR_2025M07_WAGES_S3">9.21</v></o>
<o d="2021-03-01"><v s="MPR_2025M07_WAGES_S1">2.27</v><v s="MPR_2025M07_WAGES_S2">2.98</v><v s="MPR_2025M07_WAGES_S3">7.21</v></o>
<o d="2021-04-01"><v s="MPR_2025M07_WAGES_S1">-0.73</v><v s="MPR_2025M07_WAGES_S2">2.43</v><v s="MPR_2025M07_WAGES_S3">0.67</v><v s="MPR_2025M07_WAGES_S4">2.49</v></o>
<o d="2021-05-01"><v s="MPR_2025M07_WAGES_S1">-1.11</v><v s="MPR_2025M07_WAGES_S2">2.14</v><v s="MPR_2025M07_WAGES_S3">-0.02</v></o>
<o d="2021-06-01"><v s="MPR_2025M07_WAGES_S1">0.01</v><v s="MPR_2025M07_WAGES_S2">1.86</v><v s="MPR_2025M07_WAGES_S3">1.16</v></o>
<o d="2021-07-01"><v s="MPR_2025M07_WAGES_S1">1.74</v><v s="MPR_2025M07_WAGES_S2">2.23</v><v s="MPR_2025M07_WAGES_S3">1.54</v><v s="MPR_2025M07_WAGES_S4">5.28</v></o>
<o d="2021-08-01"><v s="MPR_2025M07_WAGES_S1">2.08</v><v s="MPR_2025M07_WAGES_S2">2.23</v><v s="MPR_2025M07_WAGES_S3">2.16</v></o>
<o d="2021-09-01"><v s="MPR_2025M07_WAGES_S1">3.21</v><v s="MPR_2025M07_WAGES_S2">2.91</v><v s="MPR_2025M07_WAGES_S3">3.30</v></o>
<o d="2021-10-01"><v s="MPR_2025M07_WAGES_S1">2.06</v><v s="MPR_2025M07_WAGES_S2">2.49</v><v s="MPR_2025M07_WAGES_S3">2.98</v><v s="MPR_2025M07_WAGES_S4">4.44</v></o>
<o d="2021-11-01"><v s="MPR_2025M07_WAGES_S1">3.01</v><v s="MPR_2025M07_WAGES_S2">3.04</v><v s="MPR_2025M07_WAGES_S3">2.29</v></o>
<o d="2021-12-01"><v s="MPR_2025M07_WAGES_S1">3.80</v><v s="MPR_2025M07_WAGES_S2">3.49</v><v s="MPR_2025M07_WAGES_S3">3.10</v></o>
<o d="2022-01-01"><v s="MPR_2025M07_WAGES_S1">3.41</v><v s="MPR_2025M07_WAGES_S2">3.72</v><v s="MPR_2025M07_WAGES_S3">2.01</v><v s="MPR_2025M07_WAGES_S4">6.08</v></o>
<o d="2022-02-01"><v s="MPR_2025M07_WAGES_S1">3.07</v><v s="MPR_2025M07_WAGES_S2">3.42</v><v s="MPR_2025M07_WAGES_S3">2.36</v></o>
<o d="2022-03-01"><v s="MPR_2025M07_WAGES_S1">4.12</v><v s="MPR_2025M07_WAGES_S2">3.73</v><v s="MPR_2025M07_WAGES_S3">5.31</v></o>
<o d="2022-04-01"><v s="MPR_2025M07_WAGES_S1">3.94</v><v s="MPR_2025M07_WAGES_S2">4.29</v><v s="MPR_2025M07_WAGES_S3">3.88</v><v s="MPR_2025M07_WAGES_S4">4.70</v></o>
<o d="2022-05-01"><v s="MPR_2025M07_WAGES_S1">4.53</v><v s="MPR_2025M07_WAGES_S2">4.55</v><v s="MPR_2025M07_WAGES_S3">2.37</v></o>
<o d="2022-06-01"><v s="MPR_2025M07_WAGES_S1">6.10</v><v s="MPR_2025M07_WAGES_S2">4.77</v><v s="MPR_2025M07_WAGES_S3">4.31</v></o>
<o d="2022-07-01"><v s="MPR_2025M07_WAGES_S1">5.14</v><v s="MPR_2025M07_WAGES_S2">4.64</v><v s="MPR_2025M07_WAGES_S3">3.99</v><v s="MPR_2025M07_WAGES_S4">4.10</v></o>
<o d="2022-08-01"><v s="MPR_2025M07_WAGES_S1">5.78</v><v s="MPR_2025M07_WAGES_S2">5.04</v><v s="MPR_2025M07_WAGES_S3">4.35</v></o>
<o d="2022-09-01"><v s="MPR_2025M07_WAGES_S1">5.90</v><v s="MPR_2025M07_WAGES_S2">4.75</v><v s="MPR_2025M07_WAGES_S3">3.94</v></o>
<o d="2022-10-01"><v s="MPR_2025M07_WAGES_S1">6.50</v><v s="MPR_2025M07_WAGES_S2">5.14</v><v s="MPR_2025M07_WAGES_S3">4.03</v><v s="MPR_2025M07_WAGES_S4">6.35</v></o>
<o d="2022-11-01"><v s="MPR_2025M07_WAGES_S1">6.17</v><v s="MPR_2025M07_WAGES_S2">5.39</v><v s="MPR_2025M07_WAGES_S3">4.63</v></o>
<o d="2022-12-01"><v s="MPR_2025M07_WAGES_S1">5.00</v><v s="MPR_2025M07_WAGES_S2">4.90</v><v s="MPR_2025M07_WAGES_S3">2.94</v></o>
<o d="2023-01-01"><v s="MPR_2025M07_WAGES_S1">4.79</v><v s="MPR_2025M07_WAGES_S2">4.95</v><v s="MPR_2025M07_WAGES_S3">3.35</v><v s="MPR_2025M07_WAGES_S4">6.55</v></o>
<o d="2023-02-01"><v s="MPR_2025M07_WAGES_S1">6.26</v><v s="MPR_2025M07_WAGES_S2">5.38</v><v s="MPR_2025M07_WAGES_S3">2.27</v></o>
<o d="2023-03-01"><v s="MPR_2025M07_WAGES_S1">6.13</v><v s="MPR_2025M07_WAGES_S2">5.51</v><v s="MPR_2025M07_WAGES_S3">2.50</v></o>
<o d="2023-04-01"><v s="MPR_2025M07_WAGES_S1">6.14</v><v s="MPR_2025M07_WAGES_S2">5.13</v><v s="MPR_2025M07_WAGES_S3">3.86</v><v s="MPR_2025M07_WAGES_S4">7.55</v></o>
<o d="2023-05-01"><v s="MPR_2025M07_WAGES_S1">6.14</v><v s="MPR_2025M07_WAGES_S2">5.07</v><v s="MPR_2025M07_WAGES_S3">4.04</v></o>
<o d="2023-06-01"><v s="MPR_2025M07_WAGES_S1">4.91</v><v s="MPR_2025M07_WAGES_S2">4.38</v><v s="MPR_2025M07_WAGES_S3">3.92</v></o>
<o d="2023-07-01"><v s="MPR_2025M07_WAGES_S1">5.70</v><v s="MPR_2025M07_WAGES_S2">4.73</v><v s="MPR_2025M07_WAGES_S3">4.30</v><v s="MPR_2025M07_WAGES_S4">8.58</v></o>
<o d="2023-08-01"><v s="MPR_2025M07_WAGES_S1">5.36</v><v s="MPR_2025M07_WAGES_S2">4.30</v><v s="MPR_2025M07_WAGES_S3">3.63</v></o>
<o d="2023-09-01"><v s="MPR_2025M07_WAGES_S1">5.41</v><v s="MPR_2025M07_WAGES_S2">4.54</v><v s="MPR_2025M07_WAGES_S3">3.49</v></o>
<o d="2023-10-01"><v s="MPR_2025M07_WAGES_S1">4.87</v><v s="MPR_2025M07_WAGES_S2">4.12</v><v s="MPR_2025M07_WAGES_S3">3.58</v><v s="MPR_2025M07_WAGES_S4">5.87</v></o>
<o d="2023-11-01"><v s="MPR_2025M07_WAGES_S1">5.20</v><v s="MPR_2025M07_WAGES_S2">4.04</v><v s="MPR_2025M07_WAGES_S3">3.80</v></o>
<o d="2023-12-01"><v s="MPR_2025M07_WAGES_S1">5.95</v><v s="MPR_2025M07_WAGES_S2">4.21</v><v s="MPR_2025M07_WAGES_S3">4.05</v></o>
<o d="2024-01-01"><v s="MPR_2025M07_WAGES_S1">5.62</v><v s="MPR_2025M07_WAGES_S2">4.11</v><v s="MPR_2025M07_WAGES_S3">3.17</v><v s="MPR_2025M07_WAGES_S4">5.11</v></o>
<o d="2024-02-01"><v s="MPR_2025M07_WAGES_S1">5.09</v><v s="MPR_2025M07_WAGES_S2">3.81</v><v s="MPR_2025M07_WAGES_S3">4.11</v></o>
<o d="2024-03-01"><v s="MPR_2025M07_WAGES_S1">5.07</v><v s="MPR_2025M07_WAGES_S2">3.39</v><v s="MPR_2025M07_WAGES_S3">3.40</v></o>
<o d="2024-04-01"><v s="MPR_2025M07_WAGES_S1">4.75</v><v s="MPR_2025M07_WAGES_S2">3.47</v><v s="MPR_2025M07_WAGES_S3">3.00</v><v s="MPR_2025M07_WAGES_S4">3.22</v></o>
<o d="2024-05-01"><v s="MPR_2025M07_WAGES_S1">5.20</v><v s="MPR_2025M07_WAGES_S2">3.79</v><v s="MPR_2025M07_WAGES_S3">4.14</v></o>
<o d="2024-06-01"><v s="MPR_2025M07_WAGES_S1">5.54</v><v s="MPR_2025M07_WAGES_S2">4.39</v><v s="MPR_2025M07_WAGES_S3">3.35</v></o>
<o d="2024-07-01"><v s="MPR_2025M07_WAGES_S1">5.36</v><v s="MPR_2025M07_WAGES_S2">4.13</v><v s="MPR_2025M07_WAGES_S3">3.90</v><v s="MPR_2025M07_WAGES_S4">2.12</v></o>
<o d="2024-08-01"><v s="MPR_2025M07_WAGES_S1">5.16</v><v s="MPR_2025M07_WAGES_S2">4.29</v><v s="MPR_2025M07_WAGES_S3">5.01</v></o>
<o d="2024-09-01"><v s="MPR_2025M07_WAGES_S1">4.59</v><v s="MPR_2025M07_WAGES_S2">3.98</v><v s="MPR_2025M07_WAGES_S3">4.93</v></o>
<o d="2024-10-01"><v s="MPR_2025M07_WAGES_S1">5.20</v><v s="MPR_2025M07_WAGES_S2">4.34</v><v s="MPR_2025M07_WAGES_S3">5.52</v><v s="MPR_2025M07_WAGES_S4">2.63</v></o>
<o d="2024-11-01"><v s="MPR_2025M07_WAGES_S1">4.10</v><v s="MPR_2025M07_WAGES_S2">3.78</v><v s="MPR_2025M07_WAGES_S3">4.68</v></o>
<o d="2024-12-01"><v s="MPR_2025M07_WAGES_S1">3.54</v><v s="MPR_2025M07_WAGES_S2">3.43</v><v s="MPR_2025M07_WAGES_S3">5.71</v></o>
<o d="2025-01-01"><v s="MPR_2025M07_WAGES_S1">2.92</v><v s="MPR_2025M07_WAGES_S2">3.26</v><v s="MPR_2025M07_WAGES_S3">6.02</v><v s="MPR_2025M07_WAGES_S4">1.59</v></o>
<o d="2025-02-01"><v s="MPR_2025M07_WAGES_S1">3.14</v><v s="MPR_2025M07_WAGES_S2">3.46</v><v s="MPR_2025M07_WAGES_S3">4.55</v></o>
<o d="2025-03-01"><v s="MPR_2025M07_WAGES_S1">2.74</v><v s="MPR_2025M07_WAGES_S2">3.34</v><v s="MPR_2025M07_WAGES_S3">3.78</v></o>
<o d="2025-04-01"><v s="MPR_2025M07_WAGES_S1">2.73</v><v s="MPR_2025M07_WAGES_S2">3.37</v><v s="MPR_2025M07_WAGES_S3">3.92</v></o>
<o d="2025-05-01"><v s="MPR_2025M07_WAGES_S1">2.61</v><v s="MPR_2025M07_WAGES_S2">2.95</v></o>
<o d="2025-06-01"><v s="MPR_2025M07_WAGES_S1">2.58</v><v s="MPR_2025M07_WAGES_S2">2.86</v></o>
</observations>
</data>