The Ontario government is increasing the minimum wage from $16.55 per hour to $17.20, effective October 1.
This 3.9 per cent annualized wage increase is based on the Ontario Consumer Price Index (CPI) and brings Ontario’s minimum wage to the second highest in Canada says a news release.
“We are providing businesses with certainty and predictability by announcing this annual wage increase six months in advance, while also helping families offset the rising cost of living so that Ontario continues to be the best place to live, work, and raise a family,” says David Piccini, Minister of Labour,
A worker making the general minimum wage and working 40 hours per week will see an annual pay increase of up to $1,355. There were 935,600 workers earning at or below $17.20 per hour in 2023.
Under the Employment Standards Act, Ontario’s minimum wage increases annually based on the Ontario Consumer Price Index (CPI), a measure of inflation that represents changes in prices experienced by Ontario consumers. The CPI rose by 3.9 per cent, resulting in an increase in the minimum wage of 65 cents an hour, to $17.20.
Ontario’s new minimum wage will be the second highest provincial rate, after British Columbia at $17.40 per hour.
About 35 per cent of workers at or below the current general minimum wage of $17.20 per hour are in retail trade and 24 per cent are in accommodation and food services.
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