Canadian employers projecting 4.2% salary increase in 2023: Survey

Canadian employers project the national average base salary to increase by 4.2 per cent next year, a new survey says.

According to the report by consulting firm Eckler Ltd., the forecast comes as organizations try to balance inflationary pressures, surging interest rates, recession risks and a tight labour market.

British Columbia, Ontario and Quebec are projecting the highest average salary increases, with the Yukon, Nunavut and Prince Edward Island projecting the lowest.

The largest average salary increases are expected to be in the technology sector at 5.4 per cent.