A recent report issued by the Canadian Statistics Office showed that the average weekly income of Canadians increased by 3.5 percent in June 2022 compared to the same month last year. However, due to the current inflation, the increase may not be very encouraging for many Canadians. The current inflation rate in the country is 7.6 percent, although it has decreased from 8.1 percent in June - the highest rate we have seen in nearly four decades - the cost of living remains high, especially for certain sectors such as construction and healthcare. Data from StatCan shows that only 5 out of 23 sectors had an average weekly earnings in June that were higher than the current inflation rate.

Price pressures in Canada have also begun to spread across different sectors because the country's economy is largely in a state of excess demand due to a lack of sufficient goods and services to match the increased demand in the economy.

Tiff MacLem, Governor of the Bank of Canada, said at the recent monetary policy report press conference in Ottawa: "Employers cannot find enough workers, and they are raising wages to attract and retain employees."

According to data from StatCan, the average weekly income has been trending upward since June 2021 and this may be the result of various factors such as wage changes and the average weekly working hours.

Average wage increases are also likely to continue in the coming months, according to a report published in June by the Canadian Federation of Independent Business (CFIB), and employers are expected to raise average wages by 3.7 percent over the next year.