FX.co ★ Canada’s Wage Growth Cools in May as Average Weekly Earnings Rise 3.4% YoY

Canada’s average weekly earnings growth eased in May 2026, signaling a mild cooling in wage momentum as year-over-year gains slowed compared with the prior month.

According to the latest data updated on 30 July 2026, average weekly earnings in Canada rose 3.40% year-over-year in May. This marks a deceleration from April 2026, when earnings increased 3.85% compared with the same month a year earlier.

The figures are based on year-over-year comparisons, with the “actual” showing the change in May 2026 versus May 2025, and the “previous” reflecting April 2026 versus April 2025. The moderation in wage growth may influence expectations around household income trends and broader economic conditions going into the second half of the year.