Big news for workers in Ontario! Starting next month, the Ontario minimum wage is getting a boost — jumping from $16.55 up to $17.20 an hour.

That’s an extra 65 cents per hour, and while it might not sound like a huge difference, it can add up over time. For anyone working full-time and making minimum wage, this increase means around $1,352 more in your pocket for the year!

The increase, which is set to come into effect on October 1, 2024, marks a 3.9% jump and is based on the Ontario Consumer Price Index (CPI). The province increases the minimum wage each year in an effort to ensure that workers’ earnings keep pace with the rising cost of living.

According to the provincial government, nearly a million people in Ontario are expected to benefit from this increase. So, what does this mean for you? Here’s everything you need to know.

What is Ontario’s minimum wage?

Currently, Ontario’s minimum wage is $16.55 an hour, but as of October 1, 2024, it will increase to $17.20. This is the base wage that most workers in the province must be paid.

What is student minimum wage in Ontario?

For students under 18, Ontario has a slightly different rate, but it’s getting an increase too! Currently, the student minimum wage in Ontario is $15.60 per hour, and starting October 1, 2024, the student minimum wage will go up to $16.20 an hour.

This rate applies if you’re working 28 hours a week or less during the school year, or if you’re working full-time during breaks like summer vacation or holidays.

Do servers in Ontario make minimum wage?

Yes! As of January 1, 2022, the minimum wage for servers and bartenders who serve alcohol is the same as the general minimum wage.

This means that, starting on October 1, 2024, servers will earn at least $17.20 an hour — just like other minimum-wage workers. This applies to all servers and bartenders, even if they earn tips on top of their hourly wage.

When does minimum wage go up in Ontario?

Ontario’s minimum wage increases every year on October 1. The government ties the increase to the Ontario Consumer Price Index (CPI), which measures inflation. This ensures that wages keep up with the rising cost of living.

How much is minimum wage going up in Ontario?

This year, the general minimum wage is increasing by 65 cents, rising from $16.55 to $17.20 an hour. The 3.9% increase is based on the rise in Ontario’s Consumer Price Index, which tracks inflation.

How much more will I be making?

If you’re working 40 hours a week at the new minimum wage, that 65 cents per hour adds up to $1,352 extra per year. It’s not life-changing, but hey, it’s definitely something — especially with the cost of living going up everywhere.

Source: Narcity