Toronto/CMEDIA: The federal government reportedly announced Friday in a press release an increase of the current federal minimum wage to $17.75 per hour starting April 1, a 2.4 per cent rise from the current federal minimum wage.
“This increase will ensure salaries for workers in federally regulated private sectors are keeping pace with year-over-year cost of living increases and help Canadians working in part-time, temporary and low- or minimum-wage jobs earn more,” the press release said.
While ensuring salaries for workers in federally regulated private sectors are keeping pace with year-over-year cost of living, this increase would also help Canadians working in part-time, temporary and low- or minimum-wage jobs earn more.
to ensure, the employees are paid the new hourly wage starting April 1, Employers are in the process of adjusting their payroll information.
In the event that the minimum wage of the provincial and territorial government exceeds the federal rate, the press release added, the employers will have to pay the higher of the two.
“The federal minimum wage brings stability and certainty to Canadian workers and businesses alike and helps reduce income inequality across the board,” Steven MacKinnon, minister of Employment, Workforce Development and Labour, said in the press release.
“Today’s increase brings us one step closer to building a more fair economy.”
Being annually adjusted at the beginning of April based on Canada’s annual average Consumer Price Index in relation to the previous calendar year, the federal minimum wage is later rounded up to the closest $0.05, the press release said.
There has been a steady increase in the federal minimum wage from $15 since its introduction in 2021.
The Government of Canada’s growth in the economy helps every generation get ahead including recent legislative changes to support employees working in federally regulated workplaces for accessing the benefits and protections they are entitled to.
The employees can also maintain a healthy work-life balance and having the time they need for health challenges of becoming a parent.
