The provincial government has announced Wednesday that the minimum wage will increase to $11.70 per hour on April 1, from the current rate of $11.50 per hour.
“Our government is committed to energizing the private sector and creating the environment that our businesses need to succeed,” said Post-Secondary Education, Training and Labour Minister Trevor Holder.
READ MORE: N.S. minimum wage to increase by $1 an hour to $12.55 on April 1
“We have established predictable minimum wage increases to benefit both employers and employees. This allows New Brunswick businesses to be better prepared for increases when they occur.”
The minimum wage rate is indexed to New Brunswick’s consumer price index, rounded to the nearest five cents.
According to Statistics Canada, “the Consumer Price Index (CPI) is an indicator of changes in consumer prices experienced by Canadians.” It is obtained by comparing, over time, the cost of a fixed group of goods and services purchased by consumers. These include food, health, education and household operations.
READ MORE: Increasing the minimum wage can reduce suicide rates, study finds
According to the province, the New Brunswick consumer price index grew by 1.7 per cent in 2019.
Residents of Nova Scotia, Prince Edward Island, and Newfoundland and Labrador will also see their minimum wages increase on the same date.
Comments