Despite signs of a possible recession, Canadian workers are forecast to receive an average salary increase of 3.6 per cent in 2024, according to a new survey by Normandin Beaudry.
Despite signs of a possible recession, Canadian workers are forecast to receive an average salary increase of 3.6 per cent in 2024, according to a new survey byThe Canadian financial management consulting firm released the results of its annual salary increase survey on Tuesday.
Only two per cent of companies are predicting salary freezes for next year, a comparable decrease from the pre-pandemic wage freezes that averaged three to five per cent, the consulting firm notes. There are still various economic challenges that could impact Canadian organization in 2024 including risks of a recession, Canada's rising unemployment rate, labour shortages and interest rates remaining high despite inflation rates slowing down in June.
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Most Canadian workers expected to receive salary increases in 2024: surveyDespite signs of a possible recession, Canadian workers are forecast to receive an average salary increase of 3.6 per cent in 2024, according to a new survey by Normandin Beaudry.
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