Disappointing wage gains can partly be blamed on oil slump, but there’s more to it than that: BoC’s Wilkins


Bank of Canada senior deputy governor Carolyn Wilkins.David Kawai/Bloomberg

OTTAWA — A top Bank of Canada official says the lingering effects of the 2014 oil-price crash should take some of the blame for the country’s disappointing wage gains — but she argues it’s just one of many reasons.

Senior deputy governor Carolyn Wilkins offered explanations Thursday for the country’s “puzzling” stretch of weak wage growth at a time when the job market has been experiencing one of its biggest labour shortages in years.

Lower-than-expected wage expansion, which Wilkins noted is present in other advanced economies, has perplexed many experts.