Canada Minimum Wage Increase April 2024, List of Provinces with the raised amount.
17 Apr
As of April 1, 2024, Employment and Social Development Canada (ESDC) has announced an increase in the federal minimum wage to $17.30 per hour. This adjustment is a more minor increase from the previous year’s raise, which saw the minimum wage rise from $15.55 to $16.65 per hour.
The federal government decided to increase the minimum wage to address the rising cost of living and inflationary pressures affecting Canadians. The new wage rate of $17.30 per hour represents a meaningful increase compared to the previous rate of $16.65 per hour. It aims to provide relief to workers in federally regulated sectors who earn minimum wage.
It is estimated that employees earning the federal minimum wage will receive an extra $5.20 for an eight-hour workday or $26 per week, which will provide some relief to workers experiencing economic challenges and rising living costs. This increase is expected to have a positive impact on workers across different sectors, such as banking, telecommunications, and transportation.
The minimum wage adjustment is linked to the Consumer Price Index (CPI), which tracks the average price change consumers pay for goods and services over time. In 2023, the CPI saw an annual increase of 3.9%, following a 6.8% increase in 2022, which was the highest in 40 years. This means that the minimum wage will continue to be adjusted in line with changes in the CPI.
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