Canada's Minimum Wage For Federally-Regulated Businesses Is About To Increase
Another day, another (half) dollar an hour, starting next month!
A collection of Canadian coins.
If you work in a federally-regulated industry, your paycheck will see a boost next month. The federal minimum wage is going up on April 1, from $15 to $15.55 hourly.
The rate is adjusted annually based on national inflation, which saw a 3.4% average increase this year.
"For people employed in minimum-wage jobs trying to support themselves and their families, every dollar makes a difference," Employment and Social Development Canada (ESDC) said in a press release. "Affected workers benefit when the minimum wage rises."
Government employees, along with anyone working for Crown corporations, like Canada Post, VIA Rail, and the Bank of Canada, will be impacted by the change.
That's around 955,000 people or six percent of the Canadian workforce, according to ESDC.
By comparison, the Quebec minimum wage is currently $13.50 per hour.
That rate will increase to $14.25 per hour on May 1.
A 2021 study by the Institut de Recherche et d’Informations Socioéconomiques (IRIS) found that Montrealers need to make between $24,433 and $32,607 a year to live "with dignity."
As of last year, around one in five Quebecers were living at or below that income level.
