Canada’s federal minimum wage is set to increase by $1.10 today, in an effort to keep up with inflation. The move comes as the Consumer
Canada’s federal minimum wage is set to increase by $1.10 today, in an effort to keep up with inflation. The move comes as the Consumer Price Index rose by 6.8% in 2022, prompting the government to adjust the federal minimum wage rate to $16.65 as of April 1, 2023. Seamus O’Regan Jr., the Minister of Labour, stated that the increase is necessary to ensure that wages remain in line with the rising cost of living.
According to Employment and Social Development Canada, approximately 26,000 Canadian workers currently earn less than $15.55 per hour, which is the current federal minimum wage rate. This increase in the minimum wage rate will apply to workers and interns in federally regulated private sectors, such as banks, courier services, and interprovincial transportation services. The government hopes that this will help workers keep up with the rising cost of living and contribute to growing the economy and creating more prosperity for everyone.
