Canada raises minimum wages – The Canadian government increased the Federal Minimum Wage Rate for private sector workers, providing some respite for Indians studying and residing in Canada amidst the country’s high cost of living. Canada increased the minimum wage for workers in the federally regulated private sector from 17.30 Canadian dollars to $17.75 per hour on April 1.
“The federal minimum wage helps lower income inequality overall and provides security and assurance to Canadian firms and workers alike. “We are one step closer to creating a more equitable economy with today’s increase,” said Steven MacKinnon, Minister of Employment, Workforce Development, and Labour, in a statement.
State-by-state revisions have been made to the minimum wage rate, and the higher rate will be in effect.
In order to guarantee that all workers, including interns, receive the improved rate of pay, employers have been directed to update their payroll systems.
Every year on April 1st, the federal minimum wage rate is modified in accordance with Canada’s annual average Consumer Price Index as compared to the prior calendar year.
Some Canadians experienced a crisis after foodbanks returned international students because of the overwhelming demand placed on them; therefore, this increase in the minimum wage rate would be welcomed.
An crucial issue in the 2025 Canadian elections will be the country’s rising inflation, which was a major critique of the Justin Trudeau administration.
Indians will also benefit from this 2.4% increase in the minimum wage.
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INDIANS IN THE CANAD GIG ECONOMY: SOME RELIEF
Indians, who comprise 3.7% of Canada’s population, stand to gain greatly from this increase.
In 2024, 22 percent of Canada’s gig economy or temporary labor will be Indian.
According to a research, immigrants make up the bulk of gig workers in Canada, and their percentage of all workers increased from 5.05% to 10.0% between 2005 and 2020.
Furthermore, more than 1.35 million Canadians identified as being of Indian heritage.
Indians in Canada are employed in a variety of industries, including construction, healthcare, and retail.
Due to the fact that this rise affects both interns and all staff, Indian students will also profit.
Indian students are Canada’s largest group of international students and are expected to contribute around $4.9 billion to the country’s economy in 2021, according to the Canadian Bureau of Higher Education.
Temporary workers, students, and Indians in Canada who are struggling due to high living expenses may find some respite from the hike in the Federal Minimum Wage Rate.
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Reference: Indiatoday.in