The federal government and the provincial or territorial governments of Canada revise the hourly wage each year for the welfare of workers in the country. However, these hourly wage rates may differ as per the province or territory in which a person is residing. The minimum hourly wage increase depends on inflation and cost of living. The increase in Canada’s annual Consumer Price Index (CPI) determines the wage increase. The foremost reason behind the minimum wage increase is to keep up with the inflation in the country. Check out the article to get all the latest updates on the Canada Hourly Wage Increase 2024 as well as province-wise wage rates.
Canada Hourly Wage Increase 2024
On April 1, 2022, the federal minimum hourly wage became indexed to inflation and cost of living. Due to the same reasons, the minimum wage for workers in Canada revises each year as per the inflation measured by the consumer price index. As of April 1, 2024, the federal minimum hourly wage has increased from $16.65 to $17.30 per hour. The low-income workers in Canada can now manage their finances to keep pace with the rising cost of living. Though adjustments in Canada Hourly Wage Increase 2024 are made as per the inflation, the hourly wage rates in provinces and territories vary with the federal minimum wage.
Unlike the federal hourly wage, each province revises wage rates differently as per their schedule. For instance, the province of Manitoba is all set to increase the minimum wage from $15.30 to $15.80 on October 1, 2024. In case the hourly wage exceeds the federal wage rate, employers are required to pay a higher minimum wage to their employees. As of now, the Nunavut territory stands at the top with the highest minimum wage of $19 per hour. On the other hand, Saskatchewan has the lowest hourly wage of $14 per hour. However, it is all set to increase in October 2024.
Canada Prime Rate Increase 2025
Canada Hourly Wage Increase 2024 Brief Overview
|
Post Name |
Canada Hourly Wage Increase 2024 |
|
Country |
Canada |
|
Administer by |
Provincial and Territorial Governments |
|
Hourly Wage Indexed to |
Inflation and cost of living |
|
Measured by |
Consumer Price Index (CPI) |
|
Frequency of Wage Increase |
Once a year |
|
Wage increase status |
May vary in provinces and territories |
|
Federal minimum wage rate |
$17.30 per hour |
|
Applicable since |
April 1, 2024 |
|
Year |
2024 |
|
Official website |
canada.ca |
Canada Hourly Wage Increase Frequency
Generally, the federal minimum hourly wage increases on an annual basis. The federal government of Canada believes if the cost of living rises in the country, so should the minimum wage for the workers. As of April 1, 2024, the Canada Hourly Wage Increase 2024 increases from $16.65 to $17.30 for the employees in the federally regulated private sector.
On the other hand, the provinces and the territories revise hourly wages as per their guidelines. For instance, the province of Ontario has a current minimum wage of $16.55 per hour which is effective from October 1, 2023. However, as per the revision in hourly wage, it is all set to increase up to $17.20 per hour applicable from October 1, 2024. In addition to this, the provinces of Saskatchewan and Manitoba also increase their minimum wage from October 1, 2024.
Province Wise Hourly Wage Increase 2024
Currently, Alberta and Saskatchewan have the lowest minimum hourly wage in Canada. While the province of Alberta has had the same hourly wage since October 1, 2028, the province of Saskatchewan is all set to increase its hourly wage to $15.00 from October 1, 2024. Citizens can check their Canada Hourly Wage Increase 2024 as per their respective province or territories in the following table:
|
Province / Territory |
Current Hourly Wage |
Effective as of |
|
Minimum Wage Alberta |
$15.00 |
October 1, 2018 |
|
Minimum Wage British Columbia |
$17.40 |
June 1, 2024 |
|
Minimum Wage Manitoba |
$15.30 |
October 1, 2023, and will rise to $15.80 from October 1, 2024 |
|
Minimum Wage New Brunswick |
$15.30 |
April 1, 2024 |
|
Minimum Wage Newfoundland & Labrador |
$15.60 |
April 1, 2024 |
|
Minimum Wage Northwest Territories |
$16.05 |
September 1, 2023 |
|
Minimum Wage Nova Scotia |
$15.20 |
April 1, 2024 |
|
Minimum Wage Nunavut |
$19.00 |
January 1, 2024 |
|
Minimum Wage Ontario |
$16.55 |
Set to increase from $16.55 to $17.20 from October 1, 2024 |
|
Minimum Wage Prince Edward Island |
$15.40 |
April 1, 2024, and will increase to $16.00 from October 1, 2024 |
|
Minimum Wage Quebec |
$15.75 |
May 1, 2024 |
|
Minimum Wage Saskatchewan |
$14.00 |
October 1, 2023, and will increase to $15.00 from October 1, 2024 |
|
Minimum Wage Yukon |
$17.59 |
April 1, 2024 |
Canada Hourly Wage Increase 2024 Latest Updates
The Federal Government of Canada implements certain measures to make sure low-income workers do not face any financial hardships due to inflation and cost of living. In the last two years, the Canada Hourly Wage increases to $17.30 from $15.55 in 2022 and $16.65 in 2023. In the last year, the minimum hourly wage increases by 3.9%. As a result, low-income workers in Canada can manage their expenditures during the time of rising cost of living. For more information regarding the Canada Hourly Wage Increase 2024, you can also visit the official website of the Canada Revenue Agency.
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Raul joined SD News team in 2021, bringing his experience as a editor-cum writer on global financial & trending topics. From a young age, Raul developed a keen interest in Finance, which propelled his to pursue an undergraduate degree in global and international studies. Raul skillfully combines his knowledge of political economy and finance to empower readers with crucial insights.