Canada's average hourly wages rose by 5.4% in 2023

Highlights: Canada average hourly wages rose by 5.4% in 2023

• According to LFS, the employment rate was held steady.
• From the age group of 15, the employment rate fell.
• The employment rate increased in professional, scientific, and technical services, healthcare, and social assistance.
• Employment increased in four provinces in December, with a decline in Ontario.

 

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Detail of employment and unemployment rate in December 2023:

Employment was unchanged in December, whereas there was a slight change in November and October.

 

The unemployment rate was steady in December 2023. From April to November, the rate increased to 0.8% in five months. In December, there were 1.2 million unemployed people, an increase to 202,000.

 

Here is the table that show the unemployment rate in 2023:

Age-group	Unemployment rate
15 to 24	1.7 percentage points to 11.3%
55 and older	1.1 percentage points to 5.0%
25 to 54	0.5 percentage points

 

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Employment rises in the professional field:

Here is the table that shows the employment rate in which sectors increased and decreased in 2023:

Sectors	Employment rate
professional, scientific and technical services	Increased by 78,000 (+4.2%)
health care and social assistance rose	Increased by124,000 (+4.8%)
wholesale and retail trade	decreased by 21,000; -0.7%

 

Employment increased in four provinces:

Provinces	Employment rate increased by
British Columbia	18,000; +0.6%
Nova Scotia	+6,300; +1.3%
Saskatchewan	4,800; +0.8%
Newfoundland and Labrador	2,400; +1.0%

 

In Ontario, the employment rate fell drastically. The employment in Ontario decreased by 48,000 in December. The employment rate fell from a recent peak

 

• 6.3% in April
• 60.8% in December

 

The unemployment rate reached 6.3% in December.

 

Quebec faced a severe unemployment rate:

Quebec's unemployment rate fell 0.5 % to 4.7%. Teachers, nurses, and other employees were on strike in Quebec's public sector. In December 2023, 162,000 (4.0%) estimated (36.1% or 108,000) lost their work hours as they were on strike. The majority among them were women.

 

The unemployment rate increased for the most radicalized population group:

 

The labor market is comprised of different types of labor irrespective of color, sex, gender, etc. It is essential to understand the unique composition of the population. The radicalized group comprised 30.1% of the labor force 2023, up from 28.5% in December 2022. The largest population group was :

 

• South Asian Canadians (8.3%)
• Chinese (5.1%)
• Black Canadians (4.5%).

 

Here is the table of the unemployment rate increase in racial group

Groups	Unemployment rate
core-aged Black Canadians (aged 25 to 54)	1.6 percentage points to 8.5%
Black Canadian youth	4.4 percentage
South Asian Canadians	5.70%
Core-aged Chinese Canadians	5.1%

 

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