Minimum Wage In Canada

The minimum wage in Canada, generally benefits the society entirely. It allows for employment incentive and helps families across the nation. Minimum wage is the lowest wage permitted by law and it is the lowest rate of salary the employer is required to pay their employees. Every single employee is eligible for minimum wage, they are full-time, part-time, casual employees, or are paid an hourly rate, commission, piece rate, or salary. Minimum wage directive was created to protect workers from any exploitation by their employers and also to enable them to afford the basic necessities of life. Minimum wage rate differs between countries and sometimes even between provinces. Currently, in the province of Ontario, the minimum wage is 11$/Hour

In addition, the majority of minimum wage earners are between the ages of 15 and 24.
Unlike mature adults, younger workers are not inclined to save their money for a house or even retirement . Most of the money earned then flows back into economy through different areas of consumer goods on which they spend money – Mostly being food and clothing. In addition to the likely economic growth, the increase in minimum wage can allow for more opportunities for jobs. Since the consumer confidence is increased and the employees are spending more, businesses would be then earning more and would require more employees to keep up with the hike in sales. An economist for Unifor Jim Stanford stated "The wage is relevant, but it's of a second order of magnitude compared to the crucial question for any business, namely, is there a market for what I want to produce and sell? If there is, you'll probably hire people even if the minimum wage is higher.” As long as the company has a product that people are constantly willing to buy, hiring new individuals should not matter. However, if the consumer confidence is at a high because of the increase in the minimum wage, it would be beneficial for the company to higher new employees to keep up with the demand that

An increase in the minimum wage raises the standard of living for those impoverished workers. In the past years minimum wage has not kept up with inflation to pay many workers. particularly those with bigger families, who are currently under the poverty line. According to an analysis on the American minimum wage, by just increasing the wage by $2.85, it could lift at least five million Americans out of poverty. In addition, it would also help fourteen million children see a rise in their family income, fourteen million women, including 6 million working mothers, would receive a raise. That little change in the minimum wage would change the course of everything. Families where finances are at risk , would be able to sustain a managed