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OTTAWA — Wage growth in April reached its highest level in nearly six years as the economy posted a slight net loss of 1,100 jobs and an unemployment rate that held steady at 5.8 per cent.

Statistics Canada released a new jobs report Friday that showed average hourly wages last month were 3.6 per cent higher than they were a year earlier. It was the monthly reading’s largest annual increase since October 2012.

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The indicator, which is closely monitored by the Bank of Canada ahead of its interest-rate decisions, has been creeping upwards. It registered a year-over-year increase of 3.3 per cent in March and 3.1 per cent the month before.

The strengthening numbers for wage growth points to a tightening labour market, which could push inflation higher and nudge the central bank closer to raising its trend-setting rate.

With the economy running close to capacity, the central bank is on a rate-hiking trajectory. The question, however, is around the timing of the next increase.