Effective April 1, 2023, Canada’s federal government and some provinces and territories are implementing a minimum wage increase for federally-regulated occupations.
The move to hike the federal minimum wage by $1.10 helps maintain pace with the rising inflation. The new minimum wage will rise to $16.65 per hour from the present $15.55. Canada wants to ensure that workers can keep pace with the rising cost of living.
Each year, Canada’s federal government announces an increase in the federal minimum wage on April 1. Employment and Social Development Canada (ESDC) declared a rise of 7 percent in the minimum wage rate as the CPI (Consumer Price Index) witnessed a growth of 6.8 percent in 2022.
The rise will affect workers in federally-regulated industries. Workers and interns from the following federally-regulated private sectors will benefit from the minimum wage rise:
- Banks
- Postal and courier services
- Federal Crown corporations, including Canada Post
- Interprovincial transportation (air, rail, road, and marine)
- Radio and television broadcasting
The wage hike will benefit over 26,000 workers across Canada’s provinces and territories. The final wage will be higher of the two if the existing minimum wage is more than the federal minimum wage.
