The average salary in Ontario is rising — but these 4 spots still earn more money

Salaries in Ontario are climbing, but when it comes to the highest average income in Canada, the province still has some competition. If you've been wondering how your paycheque stacks up, the latest salary data from Statistics Canada might have some answers.

The federal agency just dropped its December 2024 earnings report, and it turns out that the average salary in Ontario has climbed — but it's still trailing behind a few other places in Canada.

According to Statistics Canada, the average weekly earnings in Ontario hit $1,328.24 in December, marking a solid 6.7% increase compared to the same time last year. That works out to about $69,068 per year.

That's above the national average of $1,290.82 per week ($67,123 per year), but it's definitely not enough to put Ontario at the top of the earnings leaderboard.

But while Ontario might not be leading the pack, it did see one of the strongest salary increases in the country. The province's 6.7% year-over-year jump was the third-highest in the country — outpacing provinces like Alberta (3.8%), B.C. (4.4%) and Quebec (6.4%) — proving that wages here are climbing at a solid pace.

The Northwest Territories, however, continues to dominate Canada's salary rankings, with an average of $1,835.40 per week ($95,441 per year) — a whopping 13.8% increase from the previous year. Nunavut and Yukon also stayed in the top three, reflecting the high wages needed to offset the cost of living in remote northern communities.

Meanwhile, Alberta remains the top-paying province in Canada, boasting weekly earnings of $1,339.21 ($69,639 per year). This keeps it just ahead of Ontario, though Ontario's wages are quickly closing the gap.

Why are salaries rising?

Across Canada, average weekly earnings rose by 5.8% year-over-year, with certain industries seeing even bigger jumps.

According to Statistics Canada, wage growth can be driven by many factors, including demand for workers, industry shifts and general inflation adjustments.

Some of the biggest gains in December were seen in the transportation and warehousing sector, which saw a 3.7% employment increase after bouncing back from the Canada Post strike in November. Meanwhile, industries like health care, social assistance and public administration all recorded employment gains.

On the flip side, job vacancies also went up by 15,500 across the country, particularly in retail trade and utilities, meaning some businesses are still struggling to fill positions despite rising wages.

What are the average salaries across Canada?

With all this salary growth, you might be wondering where different provinces and territories actually rank. Here's a breakdown of how much each region is making on average:

1. Northwest Territories — $1,835.40 ($95,441/year)
2. Nunavut — $1,719.74 ($89,427/year)
3. Yukon — $1,452.04 ($75,506/year)
4. Alberta — $1,339.21 ($69,639/year)
5. Ontario — $1,328.24 ($69,068/year)
6. British Columbia — $1,289.38 ($67,047/year)
7. Newfoundland and Labrador — $1,279.09 ($66,493/year)
8. Saskatchewan — $1,242.31 ($64,602/year)
9. Quebec — $1,241.50 ($64,558/year)
10. New Brunswick — $1,181.42 ($61,434/year)
11. Manitoba — $1,141.74 ($59,371/year)
12. Nova Scotia — $1,135.67 ($59,055/year)
13. Prince Edward Island — $1,099.43 ($57,170/year)

What does it all mean for Ontario workers?

If you're working in Ontario, your paycheque is (statistically) growing, and the province is keeping pace with Canada's higher-earning regions. However, Ontario's cost of living — especially housing — remains a big factor in how far that money goes. Not to mention the fact that a growing average salary doesn't necessarily mean every Ontarian feels it in their own wallet.

While higher salaries in the territories might look tempting, those regions also come with some of the highest living costs in Canada, making the trade-off more complicated.

For now, Ontario is still one of the best places to earn a solid income, but if you're looking for the absolute highest pay, you might want to check out Alberta — while it's still ahead, that is.

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