Canada's Federal Minimum Wage Is Going Up On April 1
It's double last year's raise. 👛
Canadian coins and bills.
With the federal minimum wage getting a raise to keep up with inflation, working for the Canadian government may get a little more attractive for those looking to make ends meet.
The minimum wage for federally regulated jobs will increase from $15.55 to $16.65 per hour as of April 1. The increase follows a 6.8% rise in the 2022 Consumer Price Index, which has made life more difficult for many Canadians working part-time, temporary and low-wage jobs.
The boost will benefit an estimated 26,000 Canadian workers who earn less than the current rate and work in industries under federal jurisdiction, including banks, postal and courier services, and interprovincial air, rail, road and marine transportation.
\u201c\ud83d\udce2 Workers: Federal minimum wage is going up. It applies to federally regulated private sectors, such as: \n\n\ud83d\udce6 postal and courier services \n\ud83d\ude9a road transportation \n\u260e\ufe0f telecommunications \n\ud83c\udfe6 banks \n\u2795 and more! \n\nLearn more \u27a1\ufe0f https://t.co/BAkVFftdFn\u201d— Employment and Social Development Canada (@Employment and Social Development Canada) 1679749290
Employers must update their payroll systems with the new rate so that workers and interns start receiving the pay increase as of the start of the month. Those in provinces or territories where the minimum wage is already higher than the new federal rate, however, are required to maintain the higher amount.
"The cost of living is rising, so we’re making sure that wages keep going up too. We’re looking after workers, because that’s how you grow the economy and create more prosperity for everyone," Minister of Labour Seamus O’Regan Jr. said in a statement.
In 2022, the minimum wage went up $0.55 based on national inflation, which saw a 3.4% average increase (half that of this year). Hopefully, this newest pay raise marks economic change, not just pocket change, for recipients.