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OTTAWA — A brand new report says Canada ought to exchange its “haphazard and unpredictable” strategy to minimal wages throughout the nation with a transparent components primarily based on common incomes.
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The Convention Board of Canada says provinces ought to take into account pegging grownup minimal wages to 50 per cent of common incomes and making a graduated wage scale for youngsters.
It says the components might be mechanically adjusted yearly, giving staff and employers higher certainty over future wages.
The convention board says the minimal wage components might be tailor-made to native financial circumstances and adjusted inside completely different areas of a province, just like how employment insurance coverage advantages are set.
The report says Canada’s low unemployment charge and excessive variety of job vacancies makes it a really perfect time to vary how minimal wages are set.
It says there may be proof that increased minimal wages scale back labour turnover — sometimes extra a problem throughout a labour crunch — which is a “appreciable burden to employers within the type of coaching prices and misplaced productiveness.”
This report by The Canadian Press was first printed July 5, 2022.
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