April 23, 2024 10:57 PM

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New Minimum Wages to Rise Across Canadian Federally Regulated Private Sectors

Canada will raise the minimum wages across federally regulated sectors, effective April 1, 2024.

The decision to raise minimum wages in several federally regulated private sectors is a measure to maintain these wages in line with inflation. The new minimum wages will benefit employees in these federally regulated private sectors:

  • Banking
  • Postal and Courier Services
  • Interprovincial transportation

The hourly minimum wages in these sectors will rise from $16.65 to $17.30, amounting to a rise of 65 cents. The minimum wage rise will apply to approximately 30,000 workers in these sectors. Higher minimum wages will apply to workers if the minimum wages are more than $17.30 in a particular province or territory.

The rise in minimum wage was higher in the previous year when Canada increased the minimum wage from $15.55 to 16.55 on April 1, 2023, amounting to a rise of $1.10.

All employers in federally regulated public and private sectors must pay wages according to the minimum wage criterion. Canada revises the minimum wages in these sectors each year to maintain parity with the growing inflation rate.

Nunavut has the highest minimum wage in the country, as the province mandates employers to pay $19 to employees. Yukon and British Columbia have the second and third highest minimum wages at $16.77 and $16.75, respectively.

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