Labour Federation welcomes $15 Minimum Wage by October 2023
Nova Scotia Federation of Labour President Danny Cavanagh welcomes the news that Nova Scotia’s Minimum Wage will be $15 per hour as of October 1, 2023.
Nova Scotia’s minimum wage rate increase as per below:
-an increase of 90 cents an hour to $14.50 on April 1, 2023.
-an increase of 50 cents an hour to $15 on October 1, 2023.
-starting April 1, 2024, the minimum wage would be adjusted on April 1 of each year by the percentage change in the projected annual national consumer price index (CPI) for the previous calendar year, plus an additional one per cent.
“This is good for the economy, and when we think about it, the minimum wage will increase to $15 this year. A higher minimum wage will lead to a more robust economy,” says Cavanagh.
Cavanagh says the minimum wage can be an essential tool for reducing poverty and income inequality so long as it is high enough to lift workers out of poverty. As we know, poverty and child poverty rates are very high in our province, and this will help with that. It’s not the total answer but one factor that helps families. We know that 16.6% of minimum wage earners in Nova Scotia are single-income providers in their families, and 62.1% of this subset of minimum wage earners rent their living accommodations. With average rents in our Country at $2K a month, many minimum wage earners struggle, and low pay affects their ability to pay for their family essentials such as food, clothing and transportation.
“Our Federation will continue to fight for a higher minimum wage and a living wage because we know that increasing the minimum wage benefits the working poor, not just those working for the minimum wage. The minimum wage is the benchmark or reference point for employers and employees in setting and negotiating salaries. Increasing the minimum wage puts upward pressure on other meagre wages; if it remains low, these wages will stagnate,” says Cavanagh.
