How a Rise in Wage Can Affect Canada
The best online reputation management company cannot believe that the Premier Kathleen Wynne’s government announced a plan today to phase in higher minimum wage. Ontario is currently poised to become the second province to move toward a minimum wage of $15 an hour, according to Kathleen Wynne and the minister of labor.
This isn’t a smart idea since small businesses are now worrying that a $15 minimum wage can eliminate a lot of jobs, now the less qualified part-time workers from many retail stores will get laid off for sure. Not every company will keep the news and learning employees who aren’t valuable to them anymore in order to save as much money as possible and keep the most qualified and experienced employees instead.
Ontario claims that they are in competition with New York and San Francisco who are moving to a $15 minimum wage and Alberta’s NDP government has announced a $15 minimum wage will take effect in October 2018. New York is to follow suit in 2021, and California in 2022. The cities of Seattle and San Francisco have already brought a $15 minimum wage for certain classes of workers in their states.
Wynne claims that people who are working at minimum wage will spend that money and the money goes back onto the economy, which is a good thing for business. The province of Ontario has some employment laws which include that the increasing minimum annual paid vacation to three weeks once a worker has spent five years with an employer, the prohibiting of paying a part-time employee lower wage than full-timers who are doing the same job, and making it easier for workers in retail and fast food chains to form unions.
Richard Koroscil states that these sweeping changes will tip our economic balance in a profoundly negative way and are concerned that these rumored policy changes would make it more difficult for Ontario businesses to grow and to keep creating new jobs.