Quebecers are expecting salary increases of more than 3% in 2024, according to experts, which will weigh on the province even more in the face of inflation.
A salary increase survey conducted by the Normandin Beaudry firm found that in Canada, an average increase of 3.6% excluding freezes was expected, but employers in Quebec expected the largest increase in their salary budget (3.7%). .
“While there is still talk of a recession in the coming months, firms are forecasting budgets above 3% for the third year in a row,” said Anna Potvin, partner and head of the claims practice at Normandin Beaudry.
It’s also worth noting that only 1% of employers in the country implemented a wage freeze this year and 2% plan to do the same next year. In Quebec, 1.2% is expected to freeze in 2024 compared to 0.5% in 2023.
Here are the expected increases by activity sector in Quebec:
– Retail and wholesale trade, distribution: 3.7%
– E-Commerce, Website Design, Multimedia/Digital: 6.0%
– IT design security, IT services and AI: 3.5%
– Building: 3.5%
– Energy, mining and metals: 3.4%
– Manufacturing (durable goods): 3.6%
– Manufacturing (non-durable goods): 3.5%
– Finance and Insurance: 3.9%
– Civil Service: 3.2%
– Foundations, Community Assistance and Health Care: 3.6%
– High Technologies: 3.7%
– Information, culture and entertainment: 3.4%
– Pharmaceuticals and Biotechnology: 3.9%
– IT Consulting Service: 3.2%
– Educational Services: 2.7%
– Real estate, rental and leasing services: 4.0%
– Professional, scientific and technical services: 3.9%
– Telecommunications, data processing, data hosting and related services: 2.9%
– Transport and warehousing: 3.2%