Canada is experiencing high inflation and inflation rate surpassed 5 per cent for the first time since September 1991 and reached 5.1 per cent in February on a year-over-year basis.
Photo: IANS
Employment and Social Development Canada announced the federal minimum wage will increase from C$15 to $15.55 per hour on April 1 in line with inflation hike.
The federal minimum wage, which came into force on December 29, 2021, is adjusted automatically on April 1 of every year, based on the average annual increase of the Consumer Price Index (CPI), Xinhua news agency quoted Statistics Canada as saying.
“This is to ensure that the federal minimum wage keeps pace with inflation and this year’s rate increase reflects the 3.4% annual average rise of the CPI for Canada in the previous calendar year.”
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This change will apply to workers and interns in federally regulated private sectors, including banks, postal and courier services, and inter-provincial air, rail, road, and marine transportation.
There are approximately 18,500 employers in federally regulated industries, including federal Crown corporations, which together employ 955,000 people, or 6 per cent of all employees in Canada.
For those working in provinces or territories where the general minimum wage rate is higher, the higher rate will continue to apply, the release said.
Canada is experiencing high inflation and inflation rate surpassed 5 per cent for the first time since September 1991 and reached 5.1 per cent in February on a year-over-year basis.
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