A new nationwide survey shows the majority of Canadians have not received a pay increase in the past five years, with wages falling well behind the rising cost of living.
The survey, conducted in August 2025 by Harris & Partners, a licensed insolvency trustee firm, asked more than 1,200 Canadians about their wage growth since 2020. Of the 1,208 respondents who answered, 59.1 per cent said they have not received a pay raise in that period, while 71.9 per cent reported that their salary has not kept pace with inflation. Even more striking, 87 per cent said their wages have not kept up with the rising cost of living.
“These figures paint a worrying picture,” said Joshua Harris, CEO of Harris & Partners. “Even in cases where people have had a pay rise, it has often been swallowed up by inflation, leaving them no better off than they were years ago.”
Over the past five years, Canadians have faced relentless increases in essentials such as groceries, rent, utilities, and transportation. Wage growth has lagged behind, widening the gap between income and basic expenses.
“This is not about wanting luxury items, it is about keeping up with the basics,” Harris said. “When nearly nine in ten Canadians say their wages are not enough to match rising costs, it is clear we have a systemic issue that needs to be addressed.”
The lack of wage growth relative to inflation has had broad effects on households. Many Canadians are struggling to save, dipping into emergency funds more frequently, and experiencing higher levels of financial stress that can affect mental health.
“When people feel like they are working just as hard but falling further behind, it creates frustration, anxiety, and uncertainty about the future,” Harris said. “This level of financial strain is not sustainable for individuals or the economy as a whole.”
Harris & Partners is urging stronger measures to ensure wages reflect the true cost of living and greater access to financial advice and resources for Canadians.
“Canadians are doing their part, budgeting, working harder, and making sacrifices,” Harris said. “But without meaningful wage growth that keeps pace with inflation, it will only get harder for people to make ends meet.”
The survey included responses from 1,210 Canadians aged 18 and older and explored how financial pressures, wage trends, and economic instability are affecting daily life and wellbeing.