Saskatchewan’s minimum wage will increase to $10.50 from $10.20 per hour, effective October 1, 2015. This is the seventh increase in the minimum wage since 2007.
“With Saskatchewan’s economy continuing to grow, the indexation formula used to calculate minimum wage shows that the minimum wage should increase as well,” Labour Relations and Workplace Safety Minister Don Morgan said.
Minimum wage is reviewed yearly using an indexation formula based on an equal weighting of the change of the Consumer Price Index and the Average Hourly Wage for the previous year. Changes are subject to Cabinet approval and are to be announced by June 30 each year. These changes would take effect October 1 of the same year.
“This increase will continue to give youth, students and other minimum wage earners more disposable income and improve their standard of living,” Morgan said. “Announcing the changes in June of each year also provides business owners predictability, allowing businesses to prepare for the changes the following fall.”
There are almost 24,000 minimum wage earners in the Saskatchewan workforce who will benefit from the minimum wage increase. The Government of Saskatchewan is also assisting minimum wage earners by increasing the basic personal tax exemption, the child tax credit and the Saskatchewan Low Income Tax Credit.
