Canadian Median Wage Rises by 1.1% in 2023, Statistics Canada Reports

Statistics Canada has reported the national median wage for T1 tax filers at $47,650 for the year 2023. This figure marks a 1.1% increase from the year 2022. Importantly, these statistics have been adjusted to account for a 3.9% annual inflation rate, a factor that has affected the real growth of annual wages, salaries, and commissions.

The report highlights the slowing impact of inflation on wage progression, providing context to the changes in income levels as recorded by the agency. Statistics Canada continues its work on compiling these figures to provide insight into the earnings trends across Canada.