May 15, 2024 Travel Finance Int'l payments

Minimum Wage in Canada (2024)

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Tolu osho

May 15, 2024

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Minimum Wage in Canada (2024)

The minimum wage in Canada varies by province and territory, reflecting the unique economic conditions, cost of living, and local labour markets. As of 2024, the minimum wage ranges from $14.00 to $19.00 per hour, with the Federal minimum wage rising to $17.30 per hour on April 1. Let’s explore the current rates across different provinces and territories, along with a comparison to other countries.

Minimum Wage Rates by Province (2024)

Minimum Wage Rates by Province (2024)

Exceptions, Taxes, and Calculations

The minimum wage rates mentioned may have exceptions based on employment type, such as tipped employees or those in training, which can be subject to different rates. Taxes are also a consideration, as earned income is taxable at both federal and provincial levels. The calculation of the minimum wage typically follows changes in the Consumer Price Index and other economic factors to adjust for the cost of living.

Comparing Minimum Wages: Canada, US, UK, and Australia

When comparing the minimum wage in Canada to other countries like the US, UK, and Australia, it's essential to consider both the exchange rates and the cost of living in each country. Let’s explore the current rates across different provinces and territories, along with a comparison to other countries.

United States (US)

The federal minimum wage in the US is $7.25 per hour. However, individual states can set their own rates, which often exceed the federal minimum. For example, Washington, D.C., has the highest minimum wage at $15.20 per hour.

United Kingdom (UK)

In the UK, the national minimum wage varies based on age and whether the worker is an apprentice. As of April 2024, the rates are as follows:

  • Ages 21 and over: £11.44 per hour
  • Ages 18 to 20: £8.60 per hour
  • Under 18: £6.40 per hour
  • Apprentices: £6.40 per hour

Australia

Australia’s minimum wage is determined by the Fair Work Commission. As of July 2024, the national minimum wage is $23.23 per hour or $882.80 based on a week of 38 ordinary hours

While Canada's minimum wage rates are robust in comparison to many other countries, they reflect the country's commitment to maintaining a decent standard of living for its workers. As the cost of living continues to rise, it's likely these rates will be adjusted to meet the economic demands of each province and territory.

Save while you work in Canada

If you are thinking of moving to Canada or looking to jobs in Canada, getting to know the minimum wage by province is important. Download the Pesa app and create a free account to receive money from friends and family back home in Nigeria or the United Kingdom.

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