The minimum wage in Ontario will increase tomorrow, October 1st, and will be the second highest of any province in the country.
The change was announced in a media release by the Ontario government in March 2024. There were almost one million workers at or below $17.20 per hour in 2023. Ontario increases the minimum wage every year based on the province’s inflation.
Credits: Fanshawe College
One minimum wage student at Fanshawe says that the increase isn’t enough “I think it should be at like $20(per hour).”
A student who thinks the wage increase isn’t going to have much effect says “Everything is increasing…..so it feels like everything is staying the same.” Another feels that increases to the minimum wage need to continue and says “To survive in our economy these days…you need to have at least two or three jobs.”
According to market professionals online here are many pros and cons to the increase in the minimum wage, the largest pro is that the million people who have their wage increased will have more money to take home and spend on local businesses.
One major argument against the raise is that the minimum wage increase could cause an increase in the cost of everything across the board because employers have to pay more and still make similar profit margins.
The minimum wage in BC is up to $17.40 an hour, the country’s highest province, and the lowest being Saskatchewan and Manitoba with $15 per hour.
