Canada’s Federal Minimum Wage To Rise On April 1

Canada’s federal minimum wage is scheduled to increase to $16.65 per hour on April 1 of this year, up from $15.55 previously.

The federal government in Ottawa says the increase is based on the consumer price index, which rose an average of 6.8% in 2022.

The federal minimum wage applies to all federally regulated sectors of the Canadian economy, including banks, postal services, and transportation.

Ottawa set a federal minimum wage of $15 an hour in 2021 and increases it each year based on the average annual inflation rate.

Read:

• International Lithium Buyers Looking to South America to Fill Supply Gaps

• Race to Secure Critical EV Battery Metals Ahead of Chinese Dominance Fully Underway

• Help is on the Way as Rising Alzheimer’s Cases Highlight Urgency for New Treatments

• FDA’s Wave of Fast Track Designations Pushing Momentum in Healthcare Sector in 2023

• Interest in Gold Miners Increases as Bank Fiasco Causes Market to Seek Safe Haven Assets

The changes are made each year on April 1, which is the start of the federal government’s fiscal year.

Where provincial or territorial minimum wage rates are higher than the federal rate, employers in Canada must give workers the higher pay.