According to forecasts from the Hay Group company, Canadian wages should rise in 2014 once again, but less than this year, for which an increase of 2.9% is expected.
Unsurprisingly, the provinces with the most natural resources will have the most significant wage increases. In Newfoundland and Labrador, a rise of 4% is forecast for next year, compared to 3.4% in Saskatchewan and 3.2% in Alberta. For the other provinces, the Hay Group expects a less significant increase in wages: 2.6% in Quebec and Manitoba, 2.5% in Ontario, 2.3% in British Colombia and 2.1% in the maritime provinces.
The oil and gas sector in the lead
The business sector will also have an impact on wage trends. Oil and gas workers are expected to see the highest increase at 4%. They are followed by workers in services (+3.3%), credit unions (+3.3%), chemical products (+3.1%) and public services (+3%). At the bottom of the scale are the sectors of leisure and hospitality (+2%), retail sales, consumer durables and forestry and paper (+2.1%) which will benefit from less significant increases.
Neither more nor less
The results of the survey place Canada in the middle of rankings of industrialized countries. The salary forecasts are located above those of France (+2.5%), Italy (+2.2%) and Japan (+2%) but below those of the United States (+2.8%) and the United Kingdom (+2.9%). There is nothing to compare either with the forecasts for India (+10.8%), China (+9%) and Russia (+8%).