FX.co ★ Canada’s Wage Growth Accelerates in August as Average Weekly Earnings Rise 3.7% YoY

Canada’s average weekly earnings growth picked up pace in August 2026, with the year-over-year increase reaching 3.70%, according to data updated on 29 October 2026. This marks an acceleration from July 2026, when average weekly earnings were up 3.18% compared with the same month a year earlier.

The figures are calculated on a year-over-year basis, meaning the August reading reflects the change in average weekly earnings compared to August of the previous year, while the July figure compares earnings to July a year earlier. The uptick from 3.18% to 3.70% suggests mounting wage pressures in the Canadian labor market, a development that investors and policymakers will be watching closely for its potential implications on inflation, consumer spending, and future monetary policy decisions.