In this article, you will get to know about the Canada Minimum Wage Increased from $16 to $19 Per Hour from 1st January: Who gets it? The Canadian territory of Nunavut has raised its minimum wage rates from 16 CAD to 19 CAD, with an intended rise of 18%. The Federal Government revised the minimum wage on 1 April of each year, but Nunavut has raised their wage rate from 1 Jan 2024. The federal Department of Justice has recommended these rates after a comprehensive survey of rising inflation among businesses and employees. To know further related details regarding the Canada Minimum Wage Increase from $16 to $19 Per House from 1st January, continue browsing this article.
Canada Minimum Wage Increased from $16 to $19 Per Hour from 1st January
The territorial Government has announced the new minimum wages for their workers. These wages are meant after recognizing the reflection of living and working on employees and employers. In Nunavut, the Department of Justice has increased the federal minimum wage from $16 to $19 per hour. This increase in strikes has been appropriate with the balance of the rising cost of inflation.
With the increase of 3 CAD, there are certain couple of stakeholders who are criticizing the new Canada Minimum Wage rate. After increasing the minimum wage, Nunavut has the highest minimum wage in Canada. This increase will offer the 120 extra weekly bucks through which the employees are able to manage their federal wages and monthly expenditures throughout the rising cost of living.
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However, the Government has made these steps to improve the workers’ income with a positive effect. With this increase, the employer and employees will have a positive effect, and they will be able to manage their financial vulnerability. The increase will have an 18% raise, as Nunavummiut is facing the highest cost of living with the time of increasing cost of living and higher inflation.
The increase in Canada’s Minimum Wage was acknowledged with an approach of targeting the individuals who are major affected by inflation. From 1 Jan 2024, the Nunavut workers will be granted $19 per hour rates, and these rates are applicable to all workers. This change has taken place with the aim of combating the higher cost of living and inflation in Nunavut.
What is Minimum Wage?
A minimum wage is the lowest sum of payment that is paid to a worker as legal pay. These are the federal rates on which the employer has to pay the wages to each worker. The Canada Minimum Wage is set at $16.65 per hour since Apr 2023. These are the federal rates that are provided on an hourly basis and set in a fiscal year according to the rising inflation.
But, in 2024, the Nunavut Government has set the new minimum wage for their resident with an increment of 3 CAD on the previous rates. Every employer in Canada has to deliver wages according to the minimum wage as it ensures the basic requirements and health needs of employees. The Canada Minimum Wage ensures fair wages, decent living with respected names, provide them protection, and overall growth.
Who gets $19 in Canada?
The minimum wages are granted to the workers who workers under the employer. In Canada, the $19 minimum wage will be provided in the territory of Nunavut, which is also the highest minimum wage rate in Canada. In 2023, the Nunavut has a 16 CAD hourly wage rate.
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The federal Canada minimum wage is provided to working employees in federally regulated drives. These wages are generally applicable to all employees above the age of 18 years. The Nunavut-eligible workers will have the $19 minimum wage, which will help them with individual and household with more hourly payments.
Along with this highest wage, the Yukon has the second-highest minimum wage in provincial pay, at $16.77 per hour. All these rates are effective on April 1 of each year, and federal wages are set according to the consumer price index with rising cost of living adjustment due to rising inflation. These minimum wages are applicable to all Canadian worker according to their province or territory wage rates.
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