FX.co ★ Canada’s Wage Growth Cools Slightly in July as Average Weekly Earnings Rise 3.18% YoY

Canada’s average weekly earnings growth eased in July 2026, signaling a modest cooling in wage momentum. Year-over-year, average weekly earnings increased by 3.18% in July, down from a 3.40% annual gain recorded in June 2026.

Both figures are calculated on a year-over-year basis, comparing each month’s earnings to the same month a year earlier. The latest data, updated on 24 September 2026, suggest that while wages continue to rise, the pace of growth is decelerating slightly compared with earlier in the summer.

This moderation in wage growth may be closely watched by policymakers and market participants assessing underlying inflation pressures and the strength of household income in Canada as the second half of 2026 progresses.