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By Peter Menyasz
Nov. 3— The continued slow growth of the Canadian economy will limit base salary increases for non-union employees to 2.6 percent in 2016, according to the Conference Board of Canada. Unionized employers project increases of 1.9 percent for their employees in 2016, up slightly from the 1.8 percent actual average wage growth in 2015.
Wage growth projected for 2016 by major employers in the Conference Board's annual Compensation Planning Outlook survey is smaller than the 3.2 percent average salary growth for employees who received an increase in 2015, but larger than the 2.4 percent inflation rate projected for 2016, the Ottawa-based private sector think tank said Oct. 29.
“Employers remain cautious about Canada's economic performance and are opting for modest wage increases,” Lynn Stoudt, the conference board's vice president of leadership and human resources research, said in a statement.
Employers in Alberta, for years the national leaders in wage growth due to a boom in the province's oil and gas sector, expect to provide employee wage increases averaging only 2.4 percent in 2016, higher only than the 2.3 percent average in British Columbia, Stoudt said. Employees in the oil and gas sector are expected to receive increases averaging only 2.1 percent in 2016.
The survey projects above-average wage growth in the chemical, pharmaceutical and allied products industries (2.9 percent); finance, insurance and real estate (2.8 percent); high technology (2.8 percent); and accommodation, food and personal services (2.8 percent), below-average growth in the communications and telecommunications industries (2.4 percent); manufacturing (2.4 percent); natural resources (2.4 percent); wholesale trade (2.4 percent); scientific, construction and engineering services (2.3 percent); utilities (2.3 percent); oil and gas (2.1 percent); and health (1.5 percent).
Other study findings included:
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