The Ontario government has announced an increase in the minimum wage from $16.55 per hour to $17.20, effective October 1, 2024. This 3.9% annualized wage increase, based on the Ontario Consumer Price Index (CPI), makes Ontario’s minimum wage the second highest in Canada. David Piccini, Minister of Labour, Immigration, Training and Skills Development, stated that this initiative, led by Premier Ford, aims to benefit nearly one million workers and their families. The announcement provides businesses with certainty by disclosing the annual wage increase six months in advance. It also helps offset the rising cost of living, contributing to Ontario’s reputation as an ideal place to live, work, and raise a family. Workers earning the general minimum wage and working 40 hours per week stand to gain up to $1,355 annually from this increase. In 2023, there were 935,600 workers earning at or below $17.20 per hour.
For more information, visit: Labour, Immigration, Training and Skills Development.