More than 700,000 Ontario residents just got a raise

Ontario's minimum wage officially increased by 35 cents on Thursday, Oct. 1, rising slightly from $17.60 to $17.95 an hour.

Essentially, over 700,000 residents of the province just got a raise, and minimum-wage workers employed 40 hours per week stand to make an additional $728 per year.

A full-time (40 hours per week) minimum wage employee in Ontario now earns $37,336.

The province adjusts its minimum wage annually on Oct. 1 in accordance with the Employment Standards Act, 2000 (ESA). The annual minimum wage increase was matched to the Ontario Consumer Price Index (CPI) of 1.9 per cent, representing the second-highest increase among Canadian provinces.

Ontario's government calls the annual increases a "balanced approach" that "puts more money into workers' pockets while helping businesses plan for the future."

Trevor Jones, Ontario's Minister of Labour, Immigration, Training and Skills Development, said in a statement on Thursday that "Ontario's workforce is our greatest advantage, and their hard work, skill and dedication keep our province moving forward every day." 

"As families and workers face higher costs and businesses navigate changing trade environments, today's minimum wage increase will help workers keep pace with global economic uncertainty while maintaining a predictable approach that businesses can plan for."

Ontario's minimum wage increased from $16.55 per hour to $17.20 per hour in 2024, and from $17.20 to $17.60 per hour in 2025.

The increases may seem small, but they add up over time. In 2016, Ontario's minimum wage sat at $11.40 per hour, and has increased by $6.55 per hour in the last decade.