OTTAWA — The federal minimum wage is rising to $16.65 per hour on April 1, up from $15.55. This increase will take effect immediately as of the new year.
The government has stated that this adjustment is based on the consumer price index (CPI), which rose by 6.8% in 2022. The federal minimum wage applies to employees working in federally regulated private sectors, including banks, postal and courier services, interprovincial air, rail, road, and marine transportation.
OTTAWA has been setting the federal minimum wage annually based on inflation since implementing a federal rate in 2021, with raises each year. For example:
- In 2022, the federal minimum wage was increased to $15 per hour.
- The federal minimum wage will increase again to $16.65 per hour starting on April 1, 2024.
For employees in provinces or territories where the minimum wage is higher than the federal rate, employers must adhere to the higher rate. This applies to all workers in those jurisdictions.
Key Points:
- The federal government has raised the minimum wage by $1.15 per hour over the past three years.
- The increase is tied directly to inflation, as measured by the CPI.
- This adjustment ensures that workers have access to more modest income during economic hardships.
The government emphasizes that this wage hike reflects a commitment to addressing the cost of living while maintaining fair pay standards for low-income workers. Additional details about the calculation methodology and implications can be found in the official bulletin.
Related Articles:
- Federal Minimum Wage Update – A comprehensive guide on how the new minimum wage will impact various industries.
- Impact on Small Businesses – An analysis of how rising wages affect local employment rates and business operations.
- Public Reaction to the Increase – A survey of employee and employer perspectives on the new pay scale.
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