In Canada, Average Weekly Earnings YoY measures the percentage change in gross taxable payroll per employee, including overtime, compared with the same period one year earlier. It encompasses all types of employees and is influenced by factors such as wage growth and variations in employment composition by industry and experience. This indicator can provide insight into labor market conditions and consumer spending potential.
A higher than expected figure should be seen as positive (bullish) for the CAD while a lower than expected figure should be seen as negative (bearish) for the CAD.