Thursday, July 26, 2007

Payroll Employment Numbers

Statscan reports briefly on the May numbers. Highlights:

1) Salaried wages up 3% for the first five months of 2007 compared to 2006, up 0.2% in May.
2) Hourly wages up 0.7% in May, but decreasing work hours offsets the gain.
3) No real job creation.

I suspect the big 3% comes partially from the Quebec pay settlement with goverment workers. Nothing overly inflationary or exciting here.

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