As per the guidelines set by Employment and Social Development Canada (ESDC), the federal minimum wage is slated to ascend to $17.30 per hour, effective April 1, 2024. This adjustment, along with all subsequent increases, hinges upon Canada’s Consumer Price Index (CPI) from the preceding calendar year.

Statistics Canada's data indicates a 3.9% rise in the CPI on an annual average basis in 2023, following a peak increase of 6.8% in 2022 and a 3.4% increase in 2021. The agency pointed out in January that, except for 2022, the annual average surge in 2023 stands as the most significant since 1991.

In compliance with Canadian legislation, the federal minimum wage applies to employees and interns within the federally regulated private sector, encompassing industries such as banking, telecommunications, and interprovincial transportation by air, sea, rail, and road.

Various provinces are poised to raise their minimum hourly wages on April 1, with New Brunswick at $15.30, Yukon at $17.59, Newfoundland and Labrador at $15.60, Nova Scotia at $15.20, and Prince Edward Island at $15.40. An additional increment is scheduled for Prince Edward Island on October 1, reaching $16.

Saskatchewan is set to elevate its minimum wage to $15 on October 1, while British Columbia will implement an increase to $17.40 per hour on June 1, up from the 2023 rate of $16.75. Ontario is anticipated to witness another increase effective October 1, though specifics have yet to be announced. For updates on Ontario rates, refer to Current Ontario Minimum Wage for updates.

In instances where the provincial or territorial minimum wage exceeds the federal threshold, federally regulated employers in the respective jurisdiction must adhere to the higher rate.

For further details regarding the wage adjustments, please consult Canada's Federal Labour Standards.