Ontario's minimum wage has been frozen for three years. Currently, the income of minimum wage workers sits a shocking 25% below the poverty line.
The longer the minimum wage remains frozen the more its value erodes, and the longer its earners remain on the sidelines of our economy.
As CCPA Economist Kaylie Tiessen tells us in this blog post, evidence suggests that increasing the minimum wage could benefit the province's economy in numerous ways.
Ontario's Ministry of Labour recently struck an advisory panel to look at how the province sets and raises the province's minimum wage. When the government struck the panel, it stated, “addressing the minimum wage is a key part of the Ontario government’s strategy to build a stronger economy, a more prosperous province and help the most vulnerable.”
Making Every Job a Good Job: A Benchmark for Setting Ontario's Minimum Wage proposes a core benchmark against which to set the minimum wage: 60% of the average industrial wage. Once the benchmark is reached, it proposes that the minimum wage be adjusted annually for inflation. This is approach balances the needs of vulnerable workers with the goal of shared prosperity and ensuring that every job in Ontario is a good job.
Check out our latest infographic for a clear picture of what a $14 minimum wage will acheive, for minimum wage earners, and the economy as a whole.