Canada’s Slowing Job and Wage Growth Suggests Recovery Fading

Canadian employers slowed their pace of job creation, cut back on wage increases and reduced purchases last month, data released today show, adding to evidence the country’s recovery is waning.

Employment rose by 7,100 on a seasonally adjusted basis, Statistics Canada said today in Ottawa, less than the 15,000 median estimate in a Bloomberg News survey of 27 economists and down from an average 36,300 over the prior three months. The annual increase in hourly wages also decelerated in July to its slowest since 2003, the agency said.