Some Canadians will be seeing a bump in their paycheques starting this week.
As of Monday, the federal minimum wage went up from $16.65 per hour to $17.30 per hour. The increase reflects the 3.9 per cent in Canada's annual average Consumer Price Index (CPI) for 2023.
The federal minimum wage was introduced three years ago and is tied to the annual CPI average from the year before.
"Everyone's feeling the pinch of inflation. So, wages must keep up with the cost of living," said Federal Minister of Labour and Seniors Seamus O'Regan.
About 30,000 Canadians working in the public sector, or federally-regulated private industries, will benefit from the increase. Employers must adjust their payrolls so all workers, including interns, get the proper hourly wage.
Ontario's current minimum wage is $16.55 per hour and will rise to $17.20 per hour starting October 1. In the event of a discrepancy between the federal and provincial rates, the employer must pay the higher of the two.