Rob Roach, ATB Economics | January 31, 2022

Earnings growth lagging inflation

Average weekly earnings in Alberta across all industries reached $1,241.94 in November.* This represents a 3.2% increase compared to 12 months earlier. Over this same period, the inflation rate in Alberta was 4.3%.

Average wages in Alberta’s goods producing sector rose by 8.5% between November 2020 and November 2021 while service sector wages rose by just 0.8%.

Forestry jobs (which are distinct from sawmill and other wood manufacturing jobs) saw the largest percentage increase in average earnings at 24.9% followed by the earnings of mining and oil and gas extraction sector workers at 10.9%.

The average earnings of workers in the finance and insurance (-0.02%), health care and social assistance (-2.9%) and the management of companies (-5.2%) sectors actually contracted over the reference period.

Mining and oil and gas sector workers remain the highest paid across the major sectors at $2,489.48 per week.

Nationally, average earnings rose by 1.9% compared to 12 months earlier while the Consumer Price index went up by 4.7%. Average earnings rose in every province and territory except Prince Edward Island.

*The data in today’s Owl have not been adjusted for seasonality.  

Answer to the previous trivia question: Prince Edward Island was the last province to pass minimum wage legislation covering both men and women, which it did in 1960.

Today’s trivia question: According to Rolling Stone magazine, which musician made the most money in 2021?

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