To keep pace with inflation, the federal minimum wage will increase from $15.55 to $16.65 per hour on April 1, 2023. Based on the Consumer Price Index, which rose 6.8% in 2022, the increase will help make life more affordable for the approximately 26,000 Canadian workers who earn less than the current rate.
Federally regulated private-sector employers must adjust their payroll information with the new rate to ensure workers and interns are paid correctly as of April 1. Where the provincial or territorial minimum wage rate is higher than the federal minimum wage, employers must apply the higher rate.
The federal minimum wage applies to the federally regulated private sectors, including banks, postal and courier services, and interprovincial air, rail, road, and marine transportation.
“The cost of living is rising, so we’re making sure that wages keep going up too. We’re looking after workers, because that’s how you grow the economy and create more prosperity for everyone.” – Minister of Labour, Seamus O’Regan Jr.
For more information, please see news release.
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