Minimum wage hikes could cost Canada’s economy 60,000 jobs this year

Minimum wage hikes across Canada this year could cost about 60,000 jobs, despite the benefits they would bring, the Bank of Canada says in a new report.

The central bank published a report over the winter break, attempting to calculate what sort of economic impact a series of minimum wage hikes set to come into force this year will have on Canada’s economy.

As of Jan. 1, Ontario’s minimum wage is now $14 an hour, up from $11.60. By the end of 2018, Alberta, Quebec and Prince Edward Island are also expected to hike their minimum wages.

  • canminuteman

    The minimum wage hike is just the start of it. Now everyone is going to demand a twenty percent wage hike.

    • I would!

      • andycanuck

        Unions in the U.S. have their wages tied to the minimum wage (e.g. like 2.5 times) so if the same thing is true here, alot of people are going to be getting alot more money.

    • Gary

      My first gut feeling was the Wynne wanted to buy the Votes from CUPE , OPSEU and Federal employees in Ontario .
      We know that the average Public Sector job pays almost 30% more that the same Private position as well as the Gold-Plated pension and Jobs-4-Life where few get fired no matter what crimes they commit on the jobs.

      If a burger flipper or coffee server makes almost 50% per hour of a CUPE member doing a perceived high-demand stressful work in Social Services … can damn well be assured that Union bosses will demand that Wynne do a review of the Work Loads to assess the Fair-Wage compared to reduce stress to have more productive employees.
      I can tell you for a fact that in the late 1990’s after the NDP forced
      Quota system for jobs there were low preforming and low qualified employees from ghettos that would screw-up at least 1 day a week .
      The fear of firing the person had forced the HR and Management to make excuses that their life was stressful at their salary level and it caused the mistakes , so the person got a $5000.00 raise and move to a lower stress job.
      And YES…..the Company was NOT a charity wing of the NDP
      to help win election so I watched that Department go automated since the Internet helped switch some function to the Consumers using a PC .
      Sadly…..the hard working employees with 10+ years of a spotless record had been among the sloths and morons that say the jobs vanish .

      The overt silence by Public sector employees over the Hydro prices is no shock to me because they know that Wynne will cut a deal to bump up the COLA raise or hide the raise in Benefits and the Pension.

  • Gheri Celin

    Just enough for the next batch of refugees!

  • Gary

    At the same Time the Somali Immigration Minister smiles and tells us Canada will take in 900,000 immigrant by 2020 on top of the refugees and illegals pouring in across the US border .

  • ontario john

    There was a report on TV the other day, that Ontario farmers will have to cut back on vegetable and fruit crops because of the minimum wage. So Wynne is not only going to let us freeze in the dark from hydro rates, but we are going to starve to death as well.

    • dance…dancetotheradio

      But there’s all those unemployed people in Detroit.

  • Morticiaa

    Oh ya some more corporate psychopathy
    Just like the seniors are eating up all the pensions
    How can anyone survive on two or three minimum wage jobs
    What a joke
    Stop bringing in all tithe uneducated rural refugees every
    Year and the extended families of all immigrants
    Oh ya
    No job losses

  • Jaedo Drax

    The true minimum wage is $0