Job Market Monitor
Real Wages
Real wages in Canada – Multiple different, and sometimes conflicting, estimates of average hourly earnings
Average wages in Canada jumped higher during the pandemic, almost entirely because job losses were heavily concentrated at the low end of the earnings scale. When workers started to emerge from lockdowns, and inflation began to surge higher in 2021, wage growth lagged, cutting into household purchasing power. There are multiple different, and sometimes conflicting, … Continue reading
Inflation in UK – Real wages fall at the fastest rate on record
Today’s labour market data tell us a bit more about how the labour market is responding to high inflation and the cost of living shock. We see some things we would expect, some things which may be surprising, and much that remains unresolved. The most eye-popping statistic in today’s labour market data is also the … Continue reading
Wages in US – Man working full-time, year-round earned less in 2014 than in 1973 in real terms
The typical man with a full-time job–the one at the statistical middle of the middle–earned $50,383 last year. The typical man with a full-time job in 1973 earned $53,294, measured in 2014 dollars to adjust for inflation. You read that right: The median male worker who was employed year-round and full time earned less in … Continue reading
US – A major slowdown in real wage growth
[T]he data of figure 1 clearly document a major slowdown in real wage growth. It is largely the product of poor productivity performance over the past decade, but that may not be surprising in view of the enormous economic losses that were precipitated by the financial crises. Nor is it unprecedented if the ICT revolution … Continue reading
Wages in UK – Weekly earnings for full-time employees annual growth: the smallest since 1997 and decreased by 1.6% in real terms finds ONS
Key points In April 2014 median gross weekly earnings for full-time employees were £518, up 0.1% from £517 in 2013. This is the smallest annual growth since 1997, the first year for which ASHE data are available. Growth has been slower since the economic downturn, with the annual increase averaging around 1.4% per year between … Continue reading
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