FX.co ★ Canada’s Permanent Wage Growth Cools to 3.3% in January, Easing From December Pace

Average hourly wages for permanent employees in Canada slowed at the start of the year, with annual growth easing to 3.3% in January 2026 from 3.7% in December 2025.

The latest reading, updated on 06 February 2026, marks a moderation in wage pressures compared with the end of last year. While wages are still rising on an annual basis, the deceleration from December suggests a cooler trajectory for earnings growth among permanent workers as the new year begins.

This softer wage momentum may be closely watched by businesses and policymakers assessing labour costs and broader inflation dynamics, given that wage growth is a key input into household spending power and the overall economic outlook in Canada.