Not long after the federal minimum wage bump was announced, it looks like there will also be a minimum wage increase in Ontario this year.
The provincial government released a statement about the upcoming increase on Friday, saying that the new minimum wage will kick in this fall.
“Ontario’s new minimum wage is the highest of any province in the country,” says the statement.
The province can expect a boost of 6.8% on October 1st, 2023.
That will bring the minimum wage to $16.55 per hour, which is over a dollar higher than the current hourly wage of $15.50.
According to the provincial government, a worker making the general minimum wage and working 40 hours per week will see an annual pay increase of nearly $2,200.
Student minimum wage will also rise on October 1st, from $14.60 to $15.60 an hour.
Homeworkers, which refers to employees who work out of their own homes for employers, will go from $17.05 to $18.20 an hour.
The minimum wage for hunting, fishing, and wilderness guides will rise from $77.60 to $82.85 per day when working less than five consecutive hours.
When working five or more hours in a day, compensation will increase from $155.25 to $165.75 per day.
In Ontario, this minimum wage hike is significant compared to previous years.
Over the past three years, general minimum wage increases have been between 10 cents and 65 cents at one time.
The province points out that Quebec has a minimum wage of $14.25 an hour, British Columbia has a minimum wage of $15.65 an hour, and Alberta has a minimum wage of $15.00 an hour.
The minimum wage increase in Ontario will also help “offset the rising cost of living” for low-income workers.
So, get ready to take home some extra cash starting this October.