Wednesday, August 31, 2022
HomeWealth ManagementCanadian wages up 5% despite pressures for businesses

Canadian wages up 5% despite pressures for businesses


While 8% of all businesses said they expect to have more vacancies in the third quarter, this rose to 22% among accommodation and food services.

Eight in ten businesses expect to maintain their current level of staffing in the next three months.

Inflation remains the main concern for Canadian businesses with 60% of respondents saying it is likely to be an obstacle, followed by the rising cost of inputs, including labour, capital, energy, and raw materials (50%); transportation costs (38%); and the cost of insurance (32%).

Supply chain issues are expected to remain with 27% expecting difficulty acquiring inputs, products or supplies domestically over the next three months.

Holding down prices

Despite the challenges, fewer businesses (34%) said they plan to raise prices in the next three months compared to the previous quarter (39%).

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