Alberta’s Average Weekly Wages On the Rise

Alberta’s Average Weekly Earnings Are Going Up Once Again!

It’s no secret that Alberta has one of the strongest provincial economies in all of Canada. Where is the proof for such a statement?

Look no further than the fact that even with lower oil prices Alberta’s workers are receiving bigger paycheques on a “weekly basis” than those in all other Canadian provinces.

January 2015

According to some of the latest numbers released by Statistics Canada, Alberta’s average weekly income grew to approximately $1,170.00 in January of 2015 - the highest ever in the history of the province. That number equals about a four percent increase on a year-over-year basis. Alberta Family Household Incomes Also Lead the Country.

Alberta’s increase in weekly wages also outgrew that of inflation (at 0.8 percent) for January of 2015, so it seems that those working in the province are getting ahead of the game.

Unemployment rates on a year-over-year basis were also lower for the month – at 4.5 percent – compared to 5.3 percent in January of 2014.

Meanwhile, on a national basis, Canada’s average weekly earnings also grew by nearly three percent to $947.00. Both averages take into account overtime pay for all employees.

February 2015

In February of 2015, Albertans average weekly earnings dropped a mere 0.1 percent from January’s figure to $1,167.20. Furthermore, between February of 2014 and February of 2015, Alberta’s workers saw a gain of 3.3 percent in their average weekly earnings.

This growth ranked third in all of Canada just after Newfoundland and Labrador’s growth of 4.2 percent and New Brunswick’s growth of 3.6 percent.

Canada’s national average in that time frame was a bit lower than Alberta’s – at 2.7 percent.

What do higher average weekly earnings mean for Albertans? Well, increased wages can become expensive for employers and put a strain on further income growth. But then and again, I am sure that most of us will just be happy with that extra bit of cash in our pockets – for now anyway.

*those who are self-employed, on pensions or unemployed are not included in the figures mentioned above. All statistics sourced from Statistics Canada.

More Economics

For heaps more of relevant economic articles to do with Calgary, Alberta and Western Canada, be sure to check out our Canadian Economic Summary today.