Ontario Government to Increase Minimum Wage to $16.55 from October 1
The Ontario government will be increasing the minimum hourly wage to $16.55 from October 1, 2023. The announcement comes in the form of an official news release that states that this is meant to help people deal with the rising cost of living. Presently, the minimum hourly wage is $15.50 and a significant amount of those earning this wage are working in retail.
As per the news release, the Ontario government is increasing the minimum wage to $16.55 an hour from October 1, 2023. This is a 6.8 percent pay raise from the current minimum wage of $15.50 per hour. This will amount to an annual pay increase of $2,200 for those working 40 hours per week.
Monte McNaughton, Minister of Labour, Immigration, Training and Skills Development said, “Under the leadership of Premier Ford, our government is putting workers in the driver’s seat of their careers, and their lives. This latest increase is a fair and balanced approach that means more money in their pockets so they can support their families and continuing building a stronger Ontario for all of us.”
He also stated that “minimum wage jobs should be a starting point and not an endpoint. That’s why we’re investing hundreds of millions of dollars to retrain and upskill workers for bigger paycheques.”