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Missing Wages Keep the Bank of Canada on its Heels

  • Sluggish growth in worker salaries has befuddled policy makers
  • Any rebound may alter central banker’s dovish bias on rates
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Missing Wages, Union Power and Poloz's Dilemma

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At first blush, recent wage settlements with the big three North American automakers may not seem like much of a victory for workers, with average annual increases of about 1 percent over four years.

But it beats nothing, which is about what they’d received from prior settlements with Fiat Chrysler Automobiles NV, Ford Motor Co. and General Motors Co.