Rapid Wage Growth in Canada to Keep BOC Sidelined -- Market Talk

Dow Jones

Dec 02, 2025

1141 ET - Robust wage growth in Canada is going to keep the central bank on hold for the foreseeable future, says the economics team at National Bank Financial. Even with the presence of excess slack, indicators of hourly wage growth indicate a 3.5% jump from a year ago -- and NBF adds that masks a sharp 5% jump over the past 6 months. This kind of wage growth is keeping measures of core inflation at or above 3%, the firm says. Services inflation, which is more dependent on wage pressures, rose 3.5% excluding shelter in October, or the highest rate since May, 2023. The wage gains likely reflect unionized workers ability to win pay increases to compensate for this decade's runup in inflation, NBF says. (paul.vieira@wsj.com; @paulvieira)

(END) Dow Jones Newswires

December 01, 2025 11:41 ET (16:41 GMT)

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Even with the presence of excess slack, indicators of hourly wage growth indicate a 3.5% jump from a year ago -- and NBF adds that masks a sharp 5% jump over the past 6 months. This kind of wage growth is keeping measures of core inflation at or above 3%, the firm says. Services inflation, which is more dependent on wage pressures, rose 3.5% excluding shelter in October, or the highest rate since May, 2023. The wage gains likely reflect unionized workers ability to win pay increases to compensate for this decade's runup in inflation, NBF says. (paul.vieira@wsj.com; @paulvieira) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 01, 2025 11:41 ET (16:41 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Rapid Wage Growth in Canada to Keep BOC Sidelined -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRapid Wage Growth in Canada to Keep BOC Sidelined -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-12-02 00:41</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     1141 ET - Robust wage growth in Canada is going to keep the central bank on hold for the foreseeable future, says the economics team at National Bank Financial. Even with the presence of excess slack, indicators of hourly wage growth indicate a 3.5% jump from a year ago -- and NBF adds that masks a sharp 5% jump over the past 6 months. This kind of wage growth is keeping measures of core inflation at or above 3%, the firm says. Services inflation, which is more dependent on wage pressures, rose 3.5% excluding shelter in October, or the highest rate since May, 2023. The wage gains likely reflect unionized workers ability to win pay increases to compensate for this decade's runup in inflation, NBF says. (paul.vieira@wsj.com; @paulvieira) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 01, 2025 11:41 ET (16:41 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4009","symbol_name":"广告","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2588477430","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2588477430","pubTimestamp":1764607260,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1141 ET - Robust wage growth in Canada is going to keep the central bank on hold for the foreseeable future, says the economics team at National Bank Financial. Even with the presence of excess slack, indicators of hourly wage growth indicate a 3.5% jump from a year ago -- and NBF adds that masks a sharp 5% jump over the past 6 months. This kind of wage growth is keeping measures of core inflation at or above 3%, the firm says. Services inflation, which is more dependent on wage pressures, rose 3.5% excluding shelter in October, or the highest rate since May, 2023. The wage gains likely reflect unionized workers ability to win pay increases to compensate for this decade's runup in inflation, NBF says. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4009":"广告","BOC":"Boston Omaha Corporation"},"translate_title":"加拿大工资快速增长让中国银行袖手旁观——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BOC":1.5},"content_text":"1141 ET - Robust wage growth in Canada is going to keep the central bank on hold for the foreseeable future, says the economics team at National Bank Financial. Even with the presence of excess slack, indicators of hourly wage growth indicate a 3.5% jump from a year ago -- and NBF adds that masks a sharp 5% jump over the past 6 months. This kind of wage growth is keeping measures of core inflation at or above 3%, the firm says. Services inflation, which is more dependent on wage pressures, rose 3.5% excluding shelter in October, or the highest rate since May, 2023. The wage gains likely reflect unionized workers ability to win pay increases to compensate for this decade's runup in inflation, NBF says. (paul.vieira@wsj.com; @paulvieira) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 01, 2025 11:41 ET (16:41 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}