The Ontario government is increasing the minimum wage on October 1st, 2023 to $16.55 an hour. The Minister of Labour, Immigration, Training and Skills Development, Monte McNaughton, acknowledges that this 6.8 percent increase will aid low-income workers with the increased cost of living.
Workers who average 40 hours per week will have an increase of approximately $2,200 annually. Students under 18, with less than 28 hours a week will be paid $15.60 instead of $14.50 and homeworkers will be paid $18.20 instead of $17.05. The new rate will set a precedent in Canada, as Ontario is the first and only one to raise wages this high.