If there's a recession headed for Canada, what's this big spike in wages doing here?
beginning to seriously raise the wages they're offering to new hires. The average offered hourly wage in Canada jumped 5.2 per cent over the past year, to $21.10.
But while the labour shortage is good news for those looking for work or a raise, at these elevated levels it's actually beginning to harm the economy. Some businesses"will not accept new clients, they will refuse contracts. They just can't do it," BDC Canada chief economist Pierre Cléroux told HuffPost Canada last month.Rangasamy believes the spike in the job vacancy rate over the past few years, as the jobless rate dropped, is a sign of"inefficiency and skills mismatch" in Canada's labour market.
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