publication . Research . 2013

Asking about wages: Results from the Bank of Canada's Wage Setting Survey of Canadian companies

Amirault, David; Fenton, Paul; Laflèche, Thérèse;
Open Access English
  • Published: 01 Jan 2013
  • Publisher: Bank of Canada Ottawa
Abstract
The Bank of Canada conducted a Wage Setting Survey with a sample of 200 private sector firms from mid-October 2007 to May 2008. Results indicate that wage adjustments for the Canadian non-union private workforce are overwhelmingly time dependent, with a fixed duration of one year, and are clustered in the first four months of the year, suggesting that wage stickiness may not be constant over the year. Ad hoc adjustments between these fixed dates are rare, but when they do occur they are almost always upward and often in response to tight labour markets. The market wage rate is the most important factor managers consider when setting wages for their employees. De...
Subjects
free text keywords: E24, J33, M52, Labour markets, Transmission of monetary policy, ddc:330
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