Average employee wage now almost $35 in Canada

The average Canadian employee made $34.94 per hour last month, an increase of $1.69 since last year.

The rise was reported in Statistics Canada’s monthly jobs report Friday morning.

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The report is the first major data release following the Bank of Canada’s interest rate cut on Wednesday.

The Canadian job market has softened over the last year as high interest rates weigh on businesses.

The unemployment rate was 6.1 per cent in April, a full percentage point higher than it was a year ago.

The job market is expected to remain weak in the coming months, even as the Bank of Canada continues to lower interest rates.

The report will This report by The Canadian Press was first published June 7, 2024.