adian economy and the challenge of minimum wages.
The Global Economy is reshaping rapidly.Human resources are being replaced by technology and mechanical resources. However, still human resources are very much important to benefit from the technological and mechanical revolution.This technical and mechanical emergents has though minimized the numerical requirement of human resources yet it has not diminished the importance of the Human resources.The argument of HR being replaced by technology and machines has given a space fpr redesigning minimum wages all over the world including Canada. The issue has , where generated a sport for all tijme high wages for highly skilled HR,there it is also threatening the future of low skilled or unskilled …show more content…
Former Premier Kathleen Wynne had announced the 75-cent-an-hour hike — the first minimum wage increase in the province since 2010, terming the move as a “fair adjustment” that reflects the rise in the Consumer Price Index. She was quoted by media as saying that she thought the vast majority of people in Ontario understood that it was very difficult to make ends meet living on minimum wage, and that there required to be a fair way of allowing minimum wage to keep u the makp with the living cost. At $11 an hour, Ontario joined Nunavut in having the highest minimum wage across Canada.
Prior to this move, Ontario was about the middle of the pack for provinces and territories, with minimum hourly rates ranging from $9.95 in Alberta to $11. Canadian government has been facing demand from anti-poverty activists and unions for an immediate increase to a $14-an-hour minimum wage.
The Ontario Convenience Stores Association is on record to have admitted some of its members do not support the idea of the $11 dollar minimum wage, “but it’s better than $14,” CEO Dave Bryans is quoted as saying by …show more content…
Small business owners aim to offer competitive wages that will help them attract and retain good staff. However, large jumps in the minimum wage force small businesses to find ways to offset the impact of higher costs by cutting back on employee hours, laying-off current staff or putting future hiring plans on hold, reducing training, and/or raising prices.
CFIB has advocated for more effective policies from the government which work for both employee and employer.)CFIB
Employment effects
• Canadian evidence suggests that a 10% increase in the minimum wage is likely to reduce the employment of teens by 3% to 6%, and slightly lower for young adults. This implies that a 25% increase in the minimum wage could lead to a 7.5% to 15% reduction in teen employment, with limited evidence suggesting it could be twice that amount (i.e., 15% to 30%) based on such a large increase compared to a series of smaller increases of the same magnitude.
• The employment impacts are similar for pre-announced, pre-specified increases compared to ad hoc increases of the same amount that are not pre-specified and
The Global Economy is reshaping rapidly.Human resources are being replaced by technology and mechanical resources. However, still human resources are very much important to benefit from the technological and mechanical revolution.This technical and mechanical emergents has though minimized the numerical requirement of human resources yet it has not diminished the importance of the Human resources.The argument of HR being replaced by technology and machines has given a space fpr redesigning minimum wages all over the world including Canada. The issue has , where generated a sport for all tijme high wages for highly skilled HR,there it is also threatening the future of low skilled or unskilled …show more content…
Former Premier Kathleen Wynne had announced the 75-cent-an-hour hike — the first minimum wage increase in the province since 2010, terming the move as a “fair adjustment” that reflects the rise in the Consumer Price Index. She was quoted by media as saying that she thought the vast majority of people in Ontario understood that it was very difficult to make ends meet living on minimum wage, and that there required to be a fair way of allowing minimum wage to keep u the makp with the living cost. At $11 an hour, Ontario joined Nunavut in having the highest minimum wage across Canada.
Prior to this move, Ontario was about the middle of the pack for provinces and territories, with minimum hourly rates ranging from $9.95 in Alberta to $11. Canadian government has been facing demand from anti-poverty activists and unions for an immediate increase to a $14-an-hour minimum wage.
The Ontario Convenience Stores Association is on record to have admitted some of its members do not support the idea of the $11 dollar minimum wage, “but it’s better than $14,” CEO Dave Bryans is quoted as saying by …show more content…
Small business owners aim to offer competitive wages that will help them attract and retain good staff. However, large jumps in the minimum wage force small businesses to find ways to offset the impact of higher costs by cutting back on employee hours, laying-off current staff or putting future hiring plans on hold, reducing training, and/or raising prices.
CFIB has advocated for more effective policies from the government which work for both employee and employer.)CFIB
Employment effects
• Canadian evidence suggests that a 10% increase in the minimum wage is likely to reduce the employment of teens by 3% to 6%, and slightly lower for young adults. This implies that a 25% increase in the minimum wage could lead to a 7.5% to 15% reduction in teen employment, with limited evidence suggesting it could be twice that amount (i.e., 15% to 30%) based on such a large increase compared to a series of smaller increases of the same magnitude.
• The employment impacts are similar for pre-announced, pre-specified increases compared to ad hoc increases of the same amount that are not pre-specified and