(MENAFN- Trend News Agency) The Canadian government announced Tuesday the federal minimum
wage will increase from 15.55 Canadian dollars (12.4 U.S. dollars)
by 7 percent to 16.65 Canadian dollars per hour on April 1 to keep
pace with inflation, trend reports citing xinhua .
Based on the Consumer Price Index (CPI), which rose 6.8 percent
in 2022, the increase will help make life more affordable for the
approximately 26,000 Canadian workers who earn less than the
current rate, said Employment and Social Development Canada in a
news release.
According to the release, 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
release said.
Every April 1, the federal minimum wage is adjusted based on
Canada's CPI of the previous calendar year. The first adjustment
took place on April 1, 2022.
MENAFN22032023000187011040ID1105833695
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.