Inflation and the cost of living have been the top of mind for workers and job seekers, while employers are trying to manage employee compensation and battle rising costs of doing business and servicing debt. We've analyzed which jobs have the best salary growth against inflation at their location.
The Bank of Canada has drastically increased its target overnight interest rate in order to tame inflation, from 0.25% in January 2021 to 5.0% in October 2023.
As a result, the forecast for future consumer spending dampens, and businesses’ cash flow becomes increasingly tight. Here are some highlights from our analysis.
Top jobs with the most salary growth from May to June 2023
- Retail Sales Staff, Victoria, British Columbia, +6.46%
- Retail Sales Staff, Vancouver, British Columbia, +6.42%
- Cashier I, Victoria, British Columbia, +6.37%
- Retail Stock Clerk, Victoria, British Columbia, +6.35%
- Cashier I, Vancouver, British Columbia, +6.34%
- Retail Stock Clerk, Vancouver, British Columbia, +6.34%
- Retail Store Customer Service Representative, Victoria, British Columbia, +6.1%
- Retail Store Customer Service Representative, Vancouver, British Columbia, +6.07%
- Stock Clerk I, Victoria, British Columbia, +5.01%
- Retail Receiving Clerk, Victoria, British Columbia, +4.9%
- Contact Center Representative I, Victoria, British Columbia, +4.34%
- Project Engineer III - Construction, Québec, Quebec, +4.15%
- Project Engineer III - Construction, Winnipeg, Manitoba, +4.12%
- Project Engineer III - Construction, Ottawa-Gatineau, Ontario part, Ontario/Quebec, +4.12%
- Project Engineer III - Construction, Halifax, Nova Scotia, +4.11%
- Project Engineer III - Construction, Toronto, Ontario, +4.11%
- Project Engineer III - Construction, Thunder Bay, Ontario, +4.11%
- Project Engineer III - Construction, St. John's, Newfoundland and Labrador, +4.09%
- Project Engineer III - Construction, Victoria, British Columbia, +4.09%
- Project Engineer III - Construction, Montréal, Quebec, +4.08%
Top jobs with the most salary growth against annual inflation from May to June 2023
- Retail Sales Staff, Victoria, British Columbia, Salary +6.46%, Inflation +2.92%
- Cashier I, Victoria, British Columbia, Salary +6.37%, Inflation +2.92%
- Retail Stock Clerk, Victoria, British Columbia, Salary +6.35%, Inflation +2.92%
- Retail Store Customer Service Representative, Victoria, British Columbia, Salary +6.1%, Inflation +2.92%
- Stock Clerk I, Victoria, British Columbia, Salary +5.01%, Inflation +2.92%
- Retail Receiving Clerk, Victoria, British Columbia, Salary +4.9%, Inflation +2.92%
- Contact Center Representative I, Victoria, British Columbia, Salary +4.34%, Inflation +2.92%
- Project Engineer III - Construction, Halifax, Nova Scotia, Salary +4.11%, Inflation +2.41%
- Retail Store Shift Supervisor, Victoria, British Columbia, Salary +2.87%, Inflation +2.92%
- Retail Third Keyholder, Victoria, British Columbia, Salary +2.61%, Inflation +2.92%
- Contact Center Representative I - Outbound, Victoria, British Columbia, Salary +2.27%, Inflation +2.92%
- Audio Visual Technician II, Charlottetown and Summerside, Prince Edward Island, Salary +0.39%, Inflation +0.75%
- HR Operations Clerk II, St. John's, Newfoundland and Labrador, Salary +0.37%, Inflation +2.21%
- Merchandise Allocator, Halifax, Nova Scotia, Salary +0.37%, Inflation +2.41%
- Billing Analyst I, Halifax, Nova Scotia, Salary +0.36%, Inflation +2.41%
- Collections Representative III, St. John's, Newfoundland and Labrador, Salary +0.36%, Inflation +2.21%
- Sales Trainer I, Halifax, Nova Scotia, Salary +0.36%, Inflation +2.41%
- Underwriter I, St. John's, Newfoundland and Labrador, Salary +0.36%, Inflation +2.21%
- Meeting/Event Planner I, Halifax, Nova Scotia, Salary +0.36%, Inflation +2.41%
- Order Fulfillment Clerk III, Charlottetown and Summerside, Prince Edward Island, Salary +0.36%, Inflation +0.75%
Jobs with the least salary growth against inflation from May to June 2023
- Retail Store Construction Director, Thunder Bay, Ontario, Salary -4.09%, Inflation +4.64%
- Project Engineer II - Construction, Thunder Bay, Ontario, Salary -1.08%, Inflation +4.64%
- Cashier I, Montréal, Quebec, Salary +0%, Inflation +5.14%
- Contact Center Representative I, Montréal, Quebec, Salary +0%, Inflation +5.14%
- Credit and Collections Representative I, Montréal, Quebec, Salary +0%, Inflation +5.14%
- Data Entry Clerk I, Montréal, Quebec, Salary +0%, Inflation +5.14%
- Inventory Control Clerk I, Montréal, Quebec, Salary +0%, Inflation +5.14%
- Materials Handler II, Montréal, Quebec, Salary +0%, Inflation +5.14%
- Order Fulfillment Clerk II, Montréal, Quebec, Salary +0%, Inflation +5.14%
- Order Picker II, Montréal, Quebec, Salary +0%, Inflation +5.14%
- Receptionist II, Montréal, Quebec, Salary +0%, Inflation +5.14%
- Retail Sales Staff, Montréal, Quebec, Salary +0%, Inflation +5.14%
- Retail Stock Clerk, Montréal, Quebec, Salary +0%, Inflation +5.14%
- Stock Clerk I, Montréal, Quebec, Salary +0%, Inflation +5.14%
- Assembler I, Québec, Quebec, Salary +0%, Inflation +4.62%
- Assembler II, Québec, Quebec, Salary +0%, Inflation +4.62%
- Bookkeeper, Québec, Quebec, Salary +0%, Inflation +4.62%
- Claims Adjuster I, Québec, Quebec, Salary +0%, Inflation +4.62%
- Claims Clerk I, Québec, Quebec, Salary +0%, Inflation +4.62%
- Customer Service Representative I, Québec, Quebec, Salary +0%, Inflation +4.62%
Adecco also compared jobs with the best salary growth in Canada’s three most populous cities.
Toronto: Jobs with the most salary growth from May to June 2023 (Inflation +3.50%)
- Project Engineer III - Construction, Salary +4.11%
- Production Control Clerk I, Salary +0.37%
- Materials Planning Assistant I, Salary +0.36%
- Production Painter II, Salary +0.36%
- Electrical Engineering Technician I, Salary +0.36%
- Customer Experience Coordinator, Salary +0.35%
- Audio Visual Technician II, Salary +0.35%
- Customer Service Trainer I, Salary +0.35%
- Contact Center Representative III - Outbound, Salary +0.35%
- Lead Dispatcher, Salary +0.34%
- Mechanic Technician I, Salary +0.34%
- Credit and Collections Analyst I, Salary +0.33%
- Packaging Machine Operator III, Salary +0.33%
- Production Control Clerk II, Salary +0.33%
- Fleet Administrator, Salary +0.33%
- Materials Handler III, Salary +0.33%
- Office Services Professional I, Salary +0.33%
- Human Resources Generalist I, Salary +0.33%
- Collections Representative III, Salary +0.33%
- Facility Maintenance Technician III, Salary +0.32%
Montreal: Jobs with the most salary growth from May to June 2023 (Inflation +5.14%)
- Project Engineer III - Construction, Salary +4.08%
- Payroll Clerk I, Salary +0.39%
- Accounts Payable/Receivable Clerk II, Salary +0.36%
- Lead Dispatcher, Salary +0.36%
- Heavy Truck Driver II, Salary +0.35%
- Fleet Administrator, Salary +0.35%
- Materials Handler III, Salary +0.35%
- Office Services Professional I, Salary +0.35%
- Purchasing Clerk II, Salary +0.34%
- Payroll Clerk II, Salary +0.34%
- Underwriter (Life) I, Salary +0.34%
- Credit Analyst I, Salary +0.34%
- Legal Assistant I, Salary +0.33%
- Systems Support Assistant, Salary +0.33%
- IT Quality Assurance Analyst I, Salary +0.33%
- Welder I, Salary +0.33%
- Payroll Administrator I, Salary +0.33%
- Business Systems Analyst I, Salary +0.33%
- Office Services Assistant III, Salary +0.33%
- HR Operations Clerk III, Salary +0.33%
Calgary: Jobs with the most salary growth from May to June 2023 (Inflation +3.49%)
- Project Engineer III - Construction, Salary +4.07%
- Office Services Assistant I, Salary +0.39%
- Payroll Clerk I, Salary +0.35%
- Underwriting Assistant, Salary +0.35%
- Shipping Coordinator II, Salary +0.35%
- Purchasing Clerk I, Salary +0.35%
- Production Painter II, Salary +0.34%
- Audio Visual Technician II, Salary +0.33%
- Desktop Publishing Operator II, Salary +0.33%
- Inventory Control Clerk II, Salary +0.33%
- HR Operations Clerk II, Salary +0.33%
- Technical Customer Support Specialist I, Salary +0.33%
- Recruiter I, Salary +0.33%
- Graphic Design Specialist I, Salary +0.32%
- Product Development Analyst I, Salary +0.32%
- Strategic Sourcing Specialist I, Salary +0.32%
- Merchandise Allocator, Salary +0.31%
- Field Service Rep. I - Electronic Equipment, Salary +0.31%
- General Maintenance Worker I, Salary +0.31%
- Production Control Clerk II, Salary +0.31%
In contrast, Charlottetown and Summerside had the lowest inflation rate of +0.75% out of the 15 locations. Here are jobs there with the most salary growth from May to June 2023:
- Project Engineer III - Construction, Salary +4.08%
- Audio Visual Technician II, Salary +0.39%
- Order Fulfillment Clerk III, Salary +0.36%
- Security Guard - Armed, Salary +0.36%
- HR Business Partner I, Salary +0.35%
- Organizational Development Specialist I, Salary +0.35%
- Contracts Administration Clerk, Salary +0.34%
- Program Management Office Analyst I, Salary +0.34%
- Credit and Collections Analyst II, Salary +0.34%
- Product/Brand Management Analyst I, Salary +0.34%
- Logistics Clerk III, Salary +0.34%
- Inventory Control Analyst II, Salary +0.34%
- Warehouse Operations Associate I, Salary +0.34%
- Risk Analyst I, Salary +0.34%
- Bank Secrecy Act Analyst II, Salary +0.34%
- CAD Support Technician II, Salary +0.34%
- Quality Control Inspector II, Salary +0.33%
- Engineering Aide II, Salary +0.33%
- Package Designer II, Salary +0.33%
- Millwright I, Salary +0.33%
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About the data
The compensation data used in this report is based, in part, on data provided by Salary.com, Inc, and analysis conducted by Adecco Employment Services Limited and reproduced with permission by Salary.com, Inc. Only job titles with data in both May and June 2023 were included in the analysis. The Bank of Canada determines the target for the overnight rate. Inflation by location was sourced and computed from Statistics Canada. Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted.