New Minimum Wage in Canada and five Provinces Coming in Early 2024

Last Updated On 9 December 2023, 9:36 AM EST (Toronto Time)

Last Updated On 9 December 2023, 9:36 AM EST (Toronto Time)

A new minimum wage in Canada and five Canadian provinces is expected to come into effect in or just after the first quarter of 2024, based on historical hikes.

The minimum wage in Canada is the lowest salary rate that an employer must legally pay their employees.

The Government of Canada sets the federal minimum wage, which is applicable to all federal government agencies, regardless of province.

While provincial governments establish their own provincial minimum wages for employees of the provincial government and private firms operating in the respective provinces,

In this article, we delve into the new minimum wages that are expected to come into effect for five Canadian provinces in or just after the first quarter of 2024.

Highest Minimum Wage in Nunavut, Effective January 1, 2024

The Nunavut government will raise the minimum wage from $16.00 to $19.00 per hour on January 1, 2024.

Nunavut will again have the highest minimum wage in Canada at $19.00 per hour.

The last raise to Nunavut’s minimum wage was from $13.00 to $16.00 per hour on April 1, 2020.

New Minimum Wage in Canada for Federally Regulated Sectors

The new minimum wage for federally regulated private sectors will also be revised on April 1, 2024, to reflect Canada’s Consumer Price Index (CPI) for the year 2023.

The current federal minimum wage in Canada is $16.65 per hour, as revised on April 1, 2023, based on CPI in 2022. Previously, it was $15.55 per hour.

Federally regulated private sectors include employees and interns in federally regulated commercial sectors such as banking, postal and courier services, as well as interprovincial air, rail, road, and maritime transportation.

The next raise on April 1, 2024, is expected to be around $17.17 per hour, just after the end of the first quarter in 2024.

This calculation is based on a 12-month moving average CPI of 3.1% that Statistics Canada reported in October 2023.

New Minimum Wage in Nova Scotia

Nova Scotians are expected to get an increase in the minimum wage of 4.1% in 2024, based on the current rate of inflation.

This province has set up a standard for revising the minimum wage every April 1 in accordance with the inflation rate plus an additional 1%.

As a result, Nova Scotians are expected to see a wage increase from the current $15 per hour to around $15.60 per hour, effective April 1, 2024.

Prince Edward Island’s New Minimum Wage

The minimum wage in Prince Edward Island is already scheduled for an increase to $15.40 per hour on April 1, 2024.

Previously, the minimum wage in PEI increased from $14.50 to $15 per hour on October 1, 2023.

Furthermore, this minimum wage will rise to $16 per hour on October 1, 2024.

Expected Raise in Minimum Wage for New Brunswick

New Brunswick is also expected to revise the minimum wage in the province based on the Consumer Price Index (CPI), as they did in 2023.

Currently, New Brunswick has a minimum wage of $14.75 per hour, which was increased from $13.75 per hour on April 1, 2023.

The new minimum wage in New Brunswick is expected to rise to near $15 per hour on April 1, 2024.

Minimum Wage Increase For Yukon

Yukon will also be raising the minimum wage on April 1, 2024, based on the annual inflation rate.

Currently, Yukon has a minimum wage of $16.77 per hour and is expected to raise it beyond $17.62 per hour on April 1, 2024.

Ontario Minimum Wage Increase 2024

Even Ontario will be announcing the amount of the minimum wage they will increase on or before April 1, 2024.

However, this announced new minimum wage in Ontario will only come into effect on October 1, 2024.

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