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Canada’s fastest-growing earnings can be found in its smallest province

Click to play video: 'B.C. job growth bleak outside major cities' B.C. job growth bleak outside major cities
Mon, Jan 9: British Columbia is growing when it comes to job creation and recent numbers show our province fares better compared to the rest of Canada, with Metropolitan areas like Vancouver seeing a boom. But according to Iglika Ivanova of the Canadian Centre for Policy Alternatives, the growth isn't being seen in other regions of the province – Jan 9, 2017

Prince Edward Island (P.E.I.): it may be Canada’s smallest province, but it stands tall when it comes to the growth of weekly average earnings, according to data released Thursday by Statistics Canada.

The federal data agency released the Survey of Employment, Payrolls and Hours (SEPH) for November 2016. It showed that P.E.I.’s average weekly earnings grew by 2.3 per cent year-over-year, more than any other province.

READ MORE: Canada’s best cities for full-time jobs

P.E.I. didn’t have the highest average weekly earnings — that was Alberta’s $1,114.21, which represented a 0.6 per cent decline from November 2015 — but it saw stronger annual growth than anyone else.

Quebec came in second with growth of 2.1 per cent, followed by New Brunswick with 1.8 per cent.

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SEPH is a monthly survey that provides a snapshot of weekly earnings, occupied jobs and hours worked in most industries at the provincial and national levels.

It’s distinct from the Labour Force Survey (LFS), which offers estimates of employment and unemployment rates across Canada.

And it’s a more “proper signal” for how employment is faring because it “culls data from actual payrolls” in the provinces, BMO senior economist Robert Kavcic wrote in a note released Thursday.

For example, the LFS showed that Alberta kept “chugging along” during the oil price shock, while “SEPH was reporting deteriorating conditions,” he wrote.

READ MORE: Canada’s worst cities for full-time jobs

Average weekly earnings in P.E.I. stood at $824.26 in November, which provides an annualized rate of $42,861.52. And that’s up from an annualized wage of $41,892.76 year-over-year.

The results came in a month when average weekly earnings grew in five of the 10 biggest industrial sectors.

The information and cultural industries sector, which includes businesses such as telecommunications, film production and publishing, saw the strongest growth in average weekly earnings at 7.2 per cent.

It was followed by mining, quarrying and oil and gas extraction, which grew by 5.9 per cent, and finance and insurance, which jumped by 5.2 per cent.

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Here’s how provinces stacked up when it came to average weekly earnings growth:

10) Alberta: -0.6 per cent

Downtown Calgary skyline. Dani Lantela, Global News

Average weekly earnings (November 2016): $1,114.21

Annualized weekly earnings (November 2016): $57,938.92

Average weekly earnings (November 2015): $1,132.07

Annualized weekly earnings (November 2015): $58,867.64

9) Saskatchewan: 0.7 per cent

Jan. 14: This Your Saskatchewan photo was taken by Kathleen Kirchhofer in Saskatoon. Kathleen Kirchhofer / Supplied

Average weekly earnings (November 2016): $988.81

Annualized weekly earnings (November 2016): $51,418.12

Average weekly earnings (November 2015): $981.97

Annualized weekly earnings (November 2015): $51,062.44

8) Ontario: 1.0 per cent

Steam rises from Lake Ontario in front of the skyline during extreme cold weather in Toronto on Saturday, February 13, 2016. THE CANADIAN PRESS/Mark Blinch
Steam rises from Lake Ontario in front of the skyline during extreme cold weather in Toronto on Saturday, February 13, 2016. THE CANADIAN PRESS/Mark Blinch. THE CANADIAN PRESS/Mark Blinch

Average weekly earnings (November 2016): $978.24

Annualized weekly earnings (November 2016): $50,869

Average weekly earnings (November 2015): $968.12

Annualized weekly earnings (November 2015): $50,342.24

7) Newfoundland and Labrador: 1.2 per cent

A couple walk along a boardwalk on their way to Western Brook Pond in Gros Morne, N.L., on August 14, 2007.
A couple walk along a boardwalk on their way to Western Brook Pond in Gros Morne, N.L., on August 14, 2007. THE CANADIAN PRESS/Jonathan Hayward

Average weekly earnings (November 2016): $1,035.18

Annualized weekly earnings (November 2016): $53,829.36

Average weekly earnings (November 2015): $1,023.10

Annualized weekly earnings (November 2015): $53,201.20

5) (tie) British Columbia: 1.5 per cent

Peter Lonergan stops part way down the newly opened Top of the World Mountain alpine trail to take in the view July 28, 2012 at the peak of Whistler Mountain. John Lehmann/The Globe and Mail via CP

Average weekly earnings (November 2016): $924.46

Annualized weekly earnings (November 2016): $48,071.92

Average weekly earnings (November 2015): $910.40

Annualized weekly earnings (November 2015): $47,340.80

5) (tie) Nova Scotia: 1.5 per cent

The Halifax skyline is seen from Dartmouth, N.S. on Saturday, August 15, 2009. Adrian Wyld/TCPI/The Canadian Press

Average weekly earnings (November 2016): $847.27

Annualized weekly earnings (November 2016): $44,058.04

Average weekly earnings (November 2015): $834.97

Annualized weekly earnings (November 2015): $43,418.44

4) Manitoba: 1.6 per cent

The Canadian Museum for Human Rights in Winnipeg in September 2014. Brent Williamson / Global News

Average weekly earnings (November 2016): $898.14

Annualized weekly earnings (November 2016): $46,703.28

Average weekly earnings (November 2015): $883.63

Annualized weekly earnings (November 2015): $45,948.76

3) New Brunswick: 1.8 per cent

Visitors take in Hopewell Rocks in New Brunswick on Thursday, Aug. 20, 2015. Alex Abdelwahab/Global News

Average weekly earnings (November 2016): $878.82

Annualized weekly earnings (November 2016): $45,698.64

Average weekly earnings (November 2015): $863.20

Annualized weekly earnings (November 2015): $44,886.40

2) Quebec: 2.1 per cent

The Chateau Frontenac in old historic Quebec City on Monday, December 23, 2013. THE CANADIAN PRESS/Jacques Boissinot

Average weekly earnings (November 2016): $878.82

Annualized weekly earnings (November 2016): $45,698.64

Average weekly earnings (November 2015): $860.42

Annualized weekly earnings (November 2015): $44,741.84

1) Prince Edward Island: 2.3 per cent

The Roman Catholic Saint Dunstan’s Basilica dominates the Charlottetown, P.E.I. skyline from this vantage point on the historic city’s waterfront. The waterfront is where the Fathers of Confederation landed for the 1864 Charlottetown Conference. The area is now home to crafts shops, boutiques and restaurants. THE CANADIAN PRESS/Brian McInnis

Average weekly earnings (November 2016): $824.26

Annualized weekly earnings (November 2016): $42,861.52

Average weekly earnings (November 2015): $805.63

Annualized weekly earnings (November 2015): $41,892.76

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